India’s renewable energy capacity to increase by 30 per cent by 2024 says IEA

According to a recent report issued by International Energy Agency (IEA), India’s renewable energy generation capacity is expected to spike by 30 percent by 2024 as compared to 2021.


The report titled ‘Electricity Market Report’ also highlighted that the nation’s demand for electricity surged in 2021 and hence the boost in the renewable generation capacity through coal-fired generation and other low carbon sources could help in meeting these demands starting from 2022.

Last year’s rise of over 1,500 terawatt-hours was the largest on record in terms of overall generation capacity but the carbon emissions from this power generation witnessed a record hike of 7 percent as compared to the previous two years, the report reveals.

IEA also reported that renewables are expected to grow by 8 percent per year on average to meet the rising electricity demands and will shift from coal-fired generation to help in achieving India’s 500 GWH renewable energy target by 2030.