As India enters the new year, it concludes 2024 with an impressive 214 GW of installed green energy capacity, positioning the country on track to meet its ambitious target of 500 GW of non-fossil fuel-based energy by 2030, as reported by the Union Ministry of New and Renewable Energy. 

Between April and November 2024, India added nearly 15 GW of renewable energy capacity—almost double the 7.57 GW added during the same period in 2023. India surpassed the 200 GW milestone in renewable energy capacity in September 2024, reaching 214 GW by November, a 14 per cent increase from 187.05 GW in the same period last year. India’s solar capacity reached 94.17 GW in 2024, with wind energy capacity standing at 47.96 GW. The combined total of installed and pipeline solar projects as of November 2024 is 261.15 GW, showcasing a strong pipeline for growth. 

The 'PM Surya Ghar: Muft Bijli Yojana' (PMSGMBY), launched in February 2024, has seen significant progress, with 700,000 installations within just 10 months. With an allocated budget of Rs 750.21 billion (bn), the scheme aims to install rooftop solar systems in 10 million households, offering up to 300 units of free electricity monthly, and subsidies ranging from Rs 30,000 to Rs 78,000 per household. 

The government has also introduced incentives for DISCOMs worth Rs 49.5 bn, focusing on facilitating net meter availability and installation. Under the PM KUSUM scheme, over 295,000 off-grid solar water pumps have been installed for farmers, while 3.5 million grid-connected agricultural pumps have been solarised. By November 2024, approximately 11.34 GW of solar capacity had been installed. On the wind energy front, India’s cumulative wind power capacity stood at 47.96 GW by November 2024, with total installed and pipeline wind energy projects reaching 74.44 GW.