Solar Sector shines with 20.1 GW surge, reached 92.12 GW in October 2024

CIOTechOutlook Team | Wednesday, 13 November 2024, 10:38 IST

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The solar industry experienced an impressive growth of 20.1 GW (27.9 percent), rising from 72.02 GW in October 2023 to 92.12 GW in October 2024. Wind energy exhibited consistent growth, with installed capacity rising by 7.8 percent, from 44.29 GW in October 2023 to 47.72 GW in 2024.

The total capacity for wind projects in the pipeline has now hit 72.35 GW. Between April and October 2024, India increased its renewable energy capacity by 12.6 GW. In October 2024, 1.72 GW was installed, signaling an intensified transition to renewable energy.

The renewable energy initiatives currently in progress and those that have been tendered experienced notable growth, totaling 143.94 GW in progress and 89.69 GW tendered by October 2024. This marks a significant rise from 99.08 GW currently being implemented and 55.13 GW that have been tendered as of October 2023, thereby guaranteeing steady advancement towards India's clean energy goals.

According to an official statement, India's overall renewable energy capacity grew by 13.5 percent or 24.2 GW within a year, reaching 203.18 GW in October 2024, up from 178.98 GW in October 2023. This increase is in line with India's ambitious goals in the renewable energy sector, as stated by the Ministry of New and Renewable Energy.

With nuclear energy included, the overall capacity for non-fossil fuels increased to 211.36 GW in 2024, up from 186.46 GW in 2023, it reported. By October 2024, major hydroelectric initiatives added 46.93 GW to India's renewable energy mix, whereas nuclear power capacity accounted for 8.18 GW.

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