In a recent report released by global energy think tank Ember on Wednesday, India’s 14th National Electricity Plan (NEP) has unveiled an ambitious goal to significantly boost its renewable energy capacity by more than threefold by the year 2030. However, achieving this ambitious target comes with a hefty price tag, requiring a staggering USD 293 billion in investments.

The International Energy Agency (IEA) has emphasised the urgent need for global action, asserting that the world must triple its renewable energy capacity and double its energy efficiency by 2030. This concerted effort is crucial to reduce dependence on fossil fuels and to limit global warming to a maximum of 1.5 degrees Celsius by the end of the century.

This call for action has gained substantial international support, with over 60 countries, including the United States, the European Union (EU), and the United Arab Emirates (UAE), now backing the commitment to triple renewable energy capacity and double energy efficiency.

Also Read | Transition towards Renewable energy

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