{"id":10568,"date":"2022-05-07T11:03:01","date_gmt":"2022-05-07T11:03:01","guid":{"rendered":"https:\/\/www.niir.org\/blog\/?p=10568"},"modified":"2022-05-07T11:03:01","modified_gmt":"2022-05-07T11:03:01","slug":"renewable-energy-industry-in-india","status":"publish","type":"post","link":"https:\/\/www.niir.org\/blog\/renewable-energy-industry-in-india\/","title":{"rendered":"Renewable Energy Industry in India"},"content":{"rendered":"

The Renewable Energy Market in India<\/strong><\/p>\n

Indian renewable energy<\/a><\/span> market was projected to be worth $7.5 billion in 2012, according to India Solar Guide. The market includes revenues from solar photovoltaic (PV)<\/a>,<\/span> wind power, hydropower and biopower segments. Asia\u2019s third-largest economy is expected to attract $14 billion investment in renewable energy through 2015. A number of factors have contributed to the growth of renewable energy market in India including rapid industrialization, rising electricity demand and increasing need for cleaner fuels. In addition, government incentives such as feed-in tariffs (FiTs) are also boosting investments in clean technology. Moreover, growing awareness about environmental concerns has led consumers to adopt green products resulting in a rise in demand for eco-friendly products<\/span><\/a> including solar PV panels and wind turbines among others. Government support in terms of tax rebates on import duties and FiTs is required to further promote development of renewable technologies. Nonetheless, with an ever-increasing demand for clean fuel sources across industries coupled with government initiatives, it can be predicted that growth opportunities will only continue to increase over time.<\/p>\n

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Visit this Page for More Information: <\/strong>Start a Business in Renewable Energy Industry<\/strong><\/a><\/span><\/p>\n

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Creating a Sustainable World<\/strong><\/p>\n

India ranks 3rd in renewable energy country attractive index in 2021.<\/em><\/p>\n

The country has set an ambitious target to achieve a capacity of 175 GW worth of renewable energy by the end of 2022, which expands to 500 GW by 2030. This is the world’s largest expansion plan is in renewable energy.<\/p>\n

India\u2019s installed renewable energy capacity has increased 286%\u00a0 in the last 7.5 years and stands at more than 151.4 Giga Watts (including large Hydro), which is about 39 per cent of the country\u2019s total capacity (as on 31st December 2021). The installed solar energy<\/a><\/span> capacity has increased by 17 times in the last 7 years, and stands at 49.5 GW. The installed Renewable energy capacity (including large hydro) has increased from 76.37 GW in March 2014 to 151.4 GW in December 2021, i.e. an increase of around 98%.<\/p>\n

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