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June 28 , 2022
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- India will need to invest $223 billion to meet its wind and solar capacity goals for 2030.
- It was according to a new report released by research company Bloomberg NEF (BNEF).
- India’s non-fossil energy capacity will reach 500 gigawatts (GW) by 2030.
- India will meet 50% of the country’s energy requirements by then.
- India will reduce its total projected carbon emissions by one billion tonnes by 2030.
- India will reduce the carbon intensity of its economy by 45% by 2030, over 2005 levels.
- India will achieve net-zero emissions by 2070.
- India has already installed 165 GW of renewable energy by 2021.
- India’s reliance on coal will drop from 53% of installed capacity in 2021 to 33% in 2030.
- Whereas solar and wind together will make up 51% by then, up from 23% in 2021.
- India has already invested around $ 75 billion in renewable energy in the past eight years between 2014 to 2021 to install 165 GW of renewable energy
- Now India needs to treble to $ 223 billion to meet India’s 500 GW goal by 2030.
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