The renewable energy sector is set to dominate India’s power industry in the coming years, according to Prashant Kumar Singh, Secretary of the Ministry of New and Renewable Energy (MNRE). Speaking at the Brainstorming Conclave on the Indian Power Sector Scenario by 2047, organised by the Central Electricity Authority in New Delhi, Singh noted that India’s RE capacity has surged from 76 GW in 2014 to nearly 210 GW today, with a goal of reaching 500 GW by 2030.

Singh emphasized that the solar sector will drive much of this growth. Solar capacity has increased dramatically from 2.6 GW in 2014 to 91 GW today and is expected to approach 300 GW by 2030. Key initiatives such as PM Surya Ghar and PM KUSUM are spurring demand, while advancements in manufacturing are bolstering supply. Solar power module manufacturing capacity has skyrocketed from 2 GW in 2014 to 60 GW today, with a projection of over 100 GW by 2030.

The solar cell manufacturing sector has also experienced significant growth, increasing from 1 GW in 2014 to an estimated 8-10 GW today, with expectations to reach 20 GW by March 2025 and surpass 70 GW by 2030. Between 2014 and 2023, investments in the RE sector totalled ₹8.5 lakh crore, and at the recent ReInvest event, financial institutions, including public sector banks, pledged ₹25 lakh crore towards RE projects by 2030.

P.K. Singh highlighted the role of initiatives such as the Production-Linked Incentive (PLI) scheme and the Green Hydrogen Mission in advancing the RE sector. He called for industry collaboration to push forward the Green Hydrogen agenda, with India targeting 7.7 metric tonnes of green hydrogen production by 2030 and establishing 15 GW of electrolyser capacity. Shri Singh also mentioned a key development from the National Physical Laboratory—the creation of a reference solar cell—a major milestone in research and development.

Also Read | India’s Renewable Energy Sector Surges Towards Dominance, Targets 500 GW by 2030

The Brainstorming Conclave was inaugurated by Union Minister of Power Shri Manohar Lal Khattar and featured an address by Union Minister of State for Power & New and Renewable Energy Shri Shripad Y. Naik. The event gathered policymakers, government leaders, senior officials, industry experts, and other stakeholders to foster knowledge exchange and collaboration aimed at building a sustainable and resilient power sector.

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