India's renewable energy sector is witnessing a surge in green job opportunities, driven by recent government initiatives and the country's commitment to climate mitigation. With the Ministry of New and Renewable Energy approving 50 solar parks across 12 states, totalling approximately 37,490 MW capacities; the sector is set for significant growth. India ranks among the top countries globally in renewable energy installed capacity, standing fourth in wind power and fifth in solar power capacity, according to the International Renewable Energy Agency.

At the COP26 summit in 2021, India pledged to achieve ambitious targets under its ?Panchamrit? pledge, including reaching 500 GW of non-fossil electricity capacity, generating half of all energy from renewables, and reducing emissions by 1 billion tonnes by 2030. The country also aims to reduce emissions intensity of GDP by 45% and achieve net-zero emissions by 2070. Currently, about 44% of India's energy comes from non-fossil sources, a figure expected to rise to 65% by 2030.

The transition to green energy is creating a demand for skilled professionals, with studies suggesting India could generate 35 million green jobs by 2047. The renewable energy sector saw a significant increase in hiring, with solar and wind energy sectors alone adding close to 53,000 workers in project development roles in 2021-22. The expansion of solar manufacturing capacity, targeting 220 GW of solar capacity by 2030, presents additional job opportunities.

Key players in the renewable energy sector, such as AdSolar, Tata Solar Power, Vikram Solar, and Emmvee, are driving innovation and employment growth. AdSolar's ambitious solar manufacturing ecosystem in Mundra, Gujarat, aims to create over 13,000 green jobs. Similarly, Tata Solar Power employs around 1,000 people and has shipped over 3 GW of solar modules worldwide. Vikram Solar and Emmvee are also expanding their manufacturing capacities, contributing to job creation.

Renewable energy's share in India's installed power capacity is growing, with solar energy alone constituting 18.66% and renewable energy overall contributing 32.69%. Policy reforms and production-linked incentives are expected to further boost local manufacturing of green products. India's focus on sustainable living through initiatives like the LiFE Mission and global leadership in initiatives like the International Solar Alliance position it as a key player in shaping global green growth.

These trends indicate the potential for India to unlock significant economic value, estimated at $1 trillion by 2030 and $15 trillion by 2070, through green initiatives and renewable energy expansion. (Source: ET)