India’s renewable energy capacity will be more than double by 2022, according to the latest renewables market analysis and forecast report by the International Energy Agency (IEA).
The increase, according to the report, would be enough for India to overtake renewable expansion in the European Union for the first time ever.
The country’s renewable energy installed capacity is 58.30 GW as per the recent government data. The government has an ambitious target of raising it to 175 GW by 2022 including 100 GW of solar and 60 GW of wind energy.
IEA stated in its report that the solar PV and wind together represent 90 per cent of India’s capacity growth as auctions yielded some of the world’s lowest prices for both technologies. Read More…
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