Solar energy was one of the fastest-growing renewable energy sources globally. The falling costs of solar panels and advancements in technology were driving significant adoption and installation of solar power systems. Solar energy was gaining traction due to its scalability, versatility, and relatively quick deployment.
In terms of the largest energy source used in India, coal has historically been the dominant energy source. However, India has been making significant efforts to increase its renewable energy capacity, with a focus on solar and wind power. The government's initiatives, such as the National Solar Mission and various state-level policies, have led to a substantial increase in renewable energy installations.
Future trends in renewable energy in India and globally include:
Solar Power Growth: Solar energy is expected to continue its rapid growth trajectory due to falling costs, increased efficiency, and government incentives. India's goal to achieve 175 GW of renewable energy capacity by 2022 includes a significant portion from solar power.
Offshore Wind: Offshore wind energy is gaining attention in India, with several projects in the pipeline. Offshore wind farms can tap into stronger and more consistent winds, making them a potential game-changer for India's renewable energy mix.
Energy Storage: Advancements in energy storage technologies, such as batteries, are becoming crucial to address the intermittency of renewable energy sources. Energy storage allows for better management of energy supply and demand and enables grid stability.
Green Hydrogen: Hydrogen produced through renewable energy-powered electrolysis (green hydrogen) is emerging as a versatile and clean energy carrier. India is exploring opportunities to produce and utilize green hydrogen for various industries.
Electric Mobility: The growth of electric vehicles (EVs) is closely tied to renewable energy adoption. As EV adoption increases, it will create a new demand for clean energy sources to power these vehicles.
Decentralized Energy Systems: Distributed energy resources, such as rooftop solar panels and small wind turbines, are expected to play a larger role in providing localized power and enhancing energy resilience.
Smart Grids and Digitalization: Smart grids enable better integration of renewable energy sources, demand response, and real-time monitoring, making energy distribution more efficient and reliable.
Policy and International Cooperation: Continued policy support, regulatory frameworks, and international collaboration will be essential to achieve ambitious renewable energy targets and address challenges.
Circular Economy and Sustainability: The emphasis on a circular economy, resource efficiency, and sustainable practices will influence the design, operation, and end-of-life management of renewable energy systems.
Innovation and Research: Ongoing research and innovation in materials, technologies, and systems will contribute to cost reduction and performance improvement in renewable energy.
Solar and hydropower are currently the leading sources of renewable energy in India. With an installed capacity of more than 52 gigawatts, India is among the world leaders in cumulative hydropower capacity.Wind and solar are the fastest growing renewable sources, but contribute just 5% of total energy used in the U.S. In India Solar Power: 67.07 GW. Biomass/Co-generation: 10.2 GW. Small Hydro Power: 4.94 GW. Waste To Energy: 0.55 GW. Hydropower currently is the largest source of renewable energy in the electricity sector. It relies on generally stable rainfall patterns, and can be negatively impacted by climate-induced droughts or changes to ecosystems which impact rainfall patterns. Thermal power is the "largest" source of power in India. There are different types of thermal power plants based on the fuel used to generate the steam such as coal, gas, and Diesel, natural gas. About 71% of electricity consumed in India is generated by thermal power plants. Over 80%of India's energy needs are met by three fuels: coal, oil and solid biomass. Coal has underpinned the expansion of electricity generation and industry, and remains the largest single fuel in the energy mix. India has emerged as a major player in the global energy market, with the country ranking third in the world for primary energy consumption, according to the India Energy Outlook 2021 report by the International Energy Agency (IEA). Fossil fuels are the largest sources of energy for electricity generation. Businesses and industries are moving towards renewable energy to reduce emissions, lower energy costs, and improve eco-friendliness. The major renewable energy trends include digitization, energy-efficient integrations, and solutions that overcome the intermittency in renewable energy production. Renewable energy has become increasingly important as more people have concerns about climate change. Trends across the industry include domestic production and the growing importance of storage. Production capacity is set to continue accelerating over the next few years. India is also embracing the power of renewable energy. It has already announced its aim to reach net zero emissions by 2070. Furthermore, according to the Ministry of Power, the country is likely to meet 62% of its electricity requirements with 500 GW of non-fossil fuel sources by 2030. Built on a survey of 216 power sector stakeholders, the 2022 Megatrends in Power report examines four megatrends that are setting the stage for the next decade of a rapidly evolving energy ecosystem: Decarbonization. Electrification. Climate Adaptation. Prior to the global pandemic, India's energy demand was projected to increase by almost 50% between 2019 and 2030, but growth over this period is now closer to 35% in the STEPS, and 25% in the Delayed Recovery Scenario. At present Indian Power Plants installed capacity is 404 GW and 58% as fossil power plants and by 2030, the requirements of total power would be expected as 817 GW, almost double.