Renewable Energy in India
India’s cumulative grid interactive or grid tied renewable energy capacity (excluding large hydro) has reached about 42.85 GW surpassing the installed capacity of its Hydroelectric power in India for the first time in Indian history. 63% of the renewable power comes from wind, while solar contributed nearly 16%.
Fig : Installed Grid Interactive Renewable Power Capacity in India as of April 30, 2016
Buoyed by the sharp increase in solar power capacity addition in FY2015–2016, Indian Government has set ambitious capacity addition targets for FY2016–2017 as well.
The Ministry of New and Renewable Energy (MNRE) communicated targets for the coming financial year in the annual union budget proposal tabled in Parliament on 29 February. MNRE plans to add 12 GW of solar power capacity between April 2016 and March 2017. This is a massive target when compared to the target set for FY2015–2016 of just 1.4 GW.
Wind energy capacity addition target for FY2016–2017 has been set at 4.1 GW, compared to 2.4 GW in FY2015–2016. Some may call this target ambitious, especially since government is set to limit a crucial financial incentive for wind energy project developers.