Rapid urbanization has fuelled power requirements for the smooth functioning of modern lifestyle. There is a spurt in the demand for renewable energy with the gradual exhaustion of conventional electricity generation methods such as thermal power. In India, solar and wind are the most popular renewable energy sources. The Ministry of New and Renewable Energy (MNRE) regulates the market. Some of the major producers are Adani Power Limited, The Tata Power Company Limited, ReNew Energy Global Plc, and JSW Energy Limited.
Market insights:
In 2021, investment in the renewable energy market picked up during the April - September period, reaching ~INR 1.00 Trn. The cumulative installed renewable energy capacity (excluding large hydro) stood at 92.54 GW by January 2021. It is expected to increase in the coming years, with a 13.15% growth rate between 2021 and 2026. The government has undertaken various schemes and programs to increase capacity and promote growth of renewable energy.
Segment insights:
The market is segmented into solar, wind, small hydro, and biopower. In FY 2020, India ranked fourth in the wind and renewable power and fifth in solar power installed capacity. Solar power capacity has increased by more than 15 times in the last seven years. The government widely promotes wind power projects around the country with the help of several private sector investments. The ministry is promoting efficient designs of water mills for mechanical utility and electricity generation and setting up micro hydel projects up to 100 KW for remote village electrification. About 32% of the primary energy is derived from biomass and a large number of the population is dependent on it.
COVID-19 impact analysis:
During the pandemic, the renewable energy sector was hit by multiple demand and supply shocks. However, the impact on the renewable power sector was relatively mild as the government announced a series of relief measures during the 2020 - 2021 period. The demand from commercial and industrial (C&I) consumers had declined by about 18% during the 2020 - 2021 period, while that of residential consumers increased by 5% - 7%. The overall drop in power demand led to a slowdown in the market's growth. Hence the government introduced various policy measures including tenders, power project construction, and expansion plans to mitigate the impact of COVID-19.
| Price : US$ 3500 | Date : Mar 2024 |
| Category : Electronics | Pages : 160 |
| Price : US$ 3500 | Date : Mar 2024 |
| Category : Automotive | Pages : 233 |
| Price : US$ 3500 | Date : Mar 2024 |
| Category : Energy, Mining and Utilities | Pages : 160 |
| Price : US$ 3500 | Date : Mar 2024 |
| Category : Manufacturing and Construction | Pages : 135 |
| Price : US$ 3500 | Date : Mar 2024 |
| Category : Energy, Mining and Utilities | Pages : 142 |
We will be happy to help you find what you need. Please call us or write to us:
Want us to send you latest updates of the current trends, insights, and more, signup to our newsletter (for alerts, special offers, and discounts).
This website is secured Origin CA certificate on the server, Comodo, Firewall and Verified Sitelock Malware Protection
Request Sample 
Request Discount 
Inquire Before Buy
