Why is it in the news?
- India has become the third-largest solar power generator according to the Global Electricity Review (GER) 2024 report released by global energy think tank Ember.
Key findings of the Report
- Renewables provided 30% of global electricity for the first time, with solar being the main contributor to electricity growth in 2023.
- India witnessed the world’s fourth-largest surge in solar generation in 2023, trailing behind China, the US, and Brazil. It contributed 5.9% of global solar generation growth in the same year.
- India’s per capita emissions from the power sector are just over half the global average and even lower than the average in Asia.
Challenges:
- Globally, drought conditions led to a record fall in hydropower generation.
- India’s electricity generation is more carbon-intensive than the global average, and it also saw the second-highest increase in coal generation globally, after China.
| India’s targets to decarbonize power generation · India aims to reduce the carbon intensity of its economy by less than 45% by 2030, achieve 50% cumulative electric power installed capacity from renewables by 2030, and reach net-zero carbon emissions by 2070. · The country targets 500 GW of renewable energy installed capacity by 2030.
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