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India is on the cusp of a transformative energy revolution. As one of the world’s fastest-growing economies, it faces the dual challenge of sustaining growth while addressing environmental concerns. The solution lies in transitioning to renewable energy. Renewable energy not only promises to mitigate the environmental impacts of fossil fuels but also offers an opportunity for economic development, job creation, and energy security.
Environmental Imperatives for India’s Energy Transition
India’s reliance on coal for electricity generation has long been a major contributor to global greenhouse gas emissions. The country’s energy sector accounts for approximately 70% of its total emissions (International Energy Agency, 2023), with coal still providing around 55% of its power generation needs. However, India is also one of the most vulnerable nations to the impacts of climate change. Extreme weather events, such as floods, heatwaves, and cyclones, have become increasingly frequent, threatening agriculture, infrastructure, and human lives.
Transitioning to renewable energy offers a sustainable way to reduce carbon emissions. In line with its commitments under the Paris Agreement, India has set a target to achieve net-zero carbon emissions by 2070 and increase its renewable energy capacity to 500 GW by 2030. Solar energy plays a pivotal role in this vision. According to the International Renewable Energy Agency (IRENA), India has already become the world’s fourth-largest producer of solar energy, with over 48 GW of installed solar capacity as of 2024 (IRENA, 2024).
Economic Opportunities and Job Creation
The economic opportunities created by renewable energy are immense. The renewable energy sector has been a key driver of job creation in India, with the country becoming one of the largest markets for clean energy technologies globally. As of 2024, India’s renewable energy industry employs over 1.5 million people, with most of these jobs concentrated in the solar, wind, and bioenergy sectors (IRENA, 2024). The solar energy industry is a significant employer, with thousands of people engaged in the installation, maintenance, and manufacturing of solar panels and other equipment.
The economic impact of renewables extends beyond job creation. The growth of renewable energy infrastructure boosts local economies, especially in rural and underserved areas. For instance, large-scale solar projects in Rajasthan, Gujarat, and Tamil Nadu have spurred investments in local businesses, infrastructure, and skills development. In addition, wind energy projects in coastal states like Andhra Pradesh and Gujarat have fostered regional economic growth, creating new revenue streams for local communities.
Technological Innovations and the Future of Renewables
Technological advancements have played a crucial role in making renewable energy more accessible and affordable. India is rapidly adopting cutting-edge solutions to enhance the efficiency and integration of renewable energy into the national grid. The development of energy storage systems, smart grids, and digital technologies is helping India overcome the intermittency challenges associated with solar and wind power.
The use of battery storage has been particularly important in stabilizing the grid and ensuring a steady power supply. As of 2024, India is testing large-scale battery storage projects in regions like Ladakh and Tamil Nadu, with the goal of creating a hybrid power grid that can store excess solar and wind energy for use during peak demand periods (Press Information Bureau, 2024). These technological innovations are accelerating the shift toward a more resilient, flexible, and sustainable energy system.
Additionally, India is making significant strides in offshore wind energy, with the government setting ambitious targets for offshore wind capacity in the coming years. The Ministry of New and Renewable Energy plans to install 30 GW of offshore wind capacity by 2030 (Ministry of New and Renewable Energy, 2024). These efforts are positioned to diversify the energy mix and unlock new opportunities for job creation, innovation, and economic growth. In a significant development, RITES subsidiary REMCL has signed an MoU with IRFC to finance power projects. The collaboration will aim to explore financing options for power projects supplying energy to Indian Railways.
Social Impact and Energy Access
As of 2024, nearly 240 million people in India still lack access to reliable electricity, mostly in rural and remote regions (World Bank, 2024). Renewable energy, especially solar power, offers a low-cost solution to electrify these areas. Decentralized solar systems, such as microgrids and solar home systems, are helping rural communities access electricity for the first time, improving education, healthcare, and overall living standards.
Pradhan Mantri Sahaj Bijli Har Ghar Yojana (Saubhagya) scheme has already provided electricity connections to over 28 million households in rural areas through solar power and mini grids (Ministry of Power, 2024). These initiatives not only enhance quality of life but also enable economic activities like small-scale farming, cottage industries, and rural entrepreneurship, contributing to inclusive economic growth.
India’s focus on renewable energy is also helping bridge the gender gap in energy access. Women in rural India, who are often tasked with household chores such as cooking and collecting firewood, stand to benefit from cleaner, more efficient energy sources. Access to electricity reduces the time spent on these tasks, allowing women to pursue education and income-generating activities.
By Dr. Aatish Parashar, Dean and Head, Central University of South Bihar
