India is ranked as the third-largest solar power generator.
POWER & RENEWABLE ENERGY

India is ranked as the third-largest solar power generator.

As per global energy think tank Ember, India became the world's third-largest solar power generator, surpassing Japan and improving from ninth place in 2023, driven by significant growth in solar generation. The report also shows the world's fastest-growing electricity source for the nineteenth consecutive year is solar. The report, highlighting 80 countries representing 92% of global electricity demand, found that solar produced a record 5.5% of global electricity in 2023. In line with this trend, India will generate 5.8% of its electricity from solar in 2023. The port has been published by The Global Electricity Review. Aditya Lolla, Ember's Asia Programme Director, stated that a renewables-powered future was now becoming a reality. He further mentioned that solar power, specifically, was experiencing remarkable growth. Lolla concluded that the increase in clean electricity was not only aimed at reducing carbon emissions in the power sector but also necessary to meet the growing electricity demand in an increasingly electrified economy. He emphasised the importance of decoupling economic growth from emissions to effectively address climate change. In India, solar power generation increased by 17 times between 2015 and 2023, whereas globally, it increased by more than six times. India's percentage of power generated by solar energy grew from 0.5% in 2015 to 5.8% in 2023. For the nineteenth year in a row, solar energy remained the fastest-growing electricity source in the world in 2023. In terms of solar generation, India increased by 18 terawatt hours (TWh) in 2023, ranking fourth globally, after China (+156 TWh), the US (+33 TWh), and Brazil (+22 TWh). 75% of the increase in 2023 came from the top four solar-growing countries combined. The Ember study indicates that India will not be able to reach this capacity objective without a major increase in yearly capacity expansions. The decarbonisation of power pathways indicates that solar energy will be essential to the energy system of the future. The IEA's net zero emissions scenario predicts that by 2030, solar energy will account for 22% of the world's power production. The possibility of setting the world on this path lies in the 2030 target set at COP28 to triple global renewable capacity. India is one of the few countries planning to triple its renewable capacity by 2030.

As per global energy think tank Ember, India became the world's third-largest solar power generator, surpassing Japan and improving from ninth place in 2023, driven by significant growth in solar generation. The report also shows the world's fastest-growing electricity source for the nineteenth consecutive year is solar. The report, highlighting 80 countries representing 92% of global electricity demand, found that solar produced a record 5.5% of global electricity in 2023. In line with this trend, India will generate 5.8% of its electricity from solar in 2023. The port has been published by The Global Electricity Review. Aditya Lolla, Ember's Asia Programme Director, stated that a renewables-powered future was now becoming a reality. He further mentioned that solar power, specifically, was experiencing remarkable growth. Lolla concluded that the increase in clean electricity was not only aimed at reducing carbon emissions in the power sector but also necessary to meet the growing electricity demand in an increasingly electrified economy. He emphasised the importance of decoupling economic growth from emissions to effectively address climate change. In India, solar power generation increased by 17 times between 2015 and 2023, whereas globally, it increased by more than six times. India's percentage of power generated by solar energy grew from 0.5% in 2015 to 5.8% in 2023. For the nineteenth year in a row, solar energy remained the fastest-growing electricity source in the world in 2023. In terms of solar generation, India increased by 18 terawatt hours (TWh) in 2023, ranking fourth globally, after China (+156 TWh), the US (+33 TWh), and Brazil (+22 TWh). 75% of the increase in 2023 came from the top four solar-growing countries combined. The Ember study indicates that India will not be able to reach this capacity objective without a major increase in yearly capacity expansions. The decarbonisation of power pathways indicates that solar energy will be essential to the energy system of the future. The IEA's net zero emissions scenario predicts that by 2030, solar energy will account for 22% of the world's power production. The possibility of setting the world on this path lies in the 2030 target set at COP28 to triple global renewable capacity. India is one of the few countries planning to triple its renewable capacity by 2030.

Next Story
Infrastructure Urban

Shoals' Q3 2024 revenue falls 23.9% due to project delays, supply chain

Shoals Technologies Group, a U.S.-headquartered manufacturer of electrical balance of systems (EBOS) for solar, energy storage, and e-mobility, reported a 23.9% year-over-year (YoY) decline in revenue, which dropped to $102.2 million in the third quarter (Q3) of 2024. This decline was mainly attributed to project delays and supply chain disruptions. The company posted a net loss of $300,000, a significant improvement compared to the $9.8 million net loss in Q3 2023. Adjusted net income was reported at $13.9 million, reflecting a 58.2% YoY decrease. Adjusted EBITDA stood at $24.5 million, a 4..

Next Story
Infrastructure Energy

FTC Solar sees 67% YoY decline in Q3 revenue from lower volumes

FTC Solar, a U.S.-based provider of solar tracker systems, reported a revenue of $10.14 million in the third quarter (Q3) of 2024, surpassing analyst expectations by $240,680. However, this figure marked a 66.8% year-over-year (YoY) decline compared to the same quarter in 2023, primarily attributed to reduced product volumes. The decline in solar tracker revenue was mainly due to an 82% decrease in the amount of MW produced, which was negatively impacted by delays in customer projects. This was partially offset by an increase in the average selling price (ASP), which led to better pricing an..

Next Story
Infrastructure Urban

Dilip Buildcon wins bid for BharatNet Phase III broadband project

Dilip Buildcon announced on Tuesday, November 12, that its STL-DBL consortium had submitted the lowest bid for BSNL's BharatNet Phase III broadband connectivity project. The USOF-funded project, which aims to provide middle and last-mile connectivity in Jammu Kashmir and Ladakh, is valued at Rs.1,625.36 Crore. Dilip Buildcon holds a 70.23% stake in the implementation of the project. The project is expected to be completed in three years, and the corporation will secure a 10-year maintenance contract. In recent days, BSNL has awarded several contracts for the BharatNet project. On Monday, No..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000