In its journey towards the 175 GW renewable energy capacity target by December 2022, India surpassed the 100 GW milestone in August 2021. With just over a year remaining for the target deadline, we have a lot of ground to cover. More importantly, the story does not end in 2022, but becomes even more challenging, considering the much larger target of 500 GW non-fossil capacity by 2030 announced in COP26.
Since our last report tracking the 175 GW journey, the renewable sector has witnessed some important milestones which include the all-time low tariff of Rs.1.99 per unit for solar PV projects, introduction of Green Term-Ahead and Day-Ahead markets and a strong boost to local manufacturing in solar and battery industries through govt. support. While covering such aspects, this report provides a snapshot of progress of renewables in the country and points to emerging policy and regulatory issues which need to be addressed in order to sustain the growth of renewables. This is the fourth update to three earlier reports looking at India's journey towards 175 GW renewables, published by Prayas (Energy Group) in October, 2016 , July, 2017 and September, 2018.