India plans to develop 76 GW of utility scale solar power and wind power generation capacity by the year 2025. With this, India can save 19.5 billion dollars (1588 billion rupees). This has been revealed in the latest study of Global Energy Monitor.
According to the Global Solar Power Tracker and Global Wind Power Tracker data, India has been placed among the top 7 countries in terms of potential renewable energy potential. If this expectation is realized, then India can avoid the use of about 78 million tonnes of coal every year.
India’s annual savings could be even higher if the transition from coal to clean energy matches the country’s aspirations. India has set a target of adding 420 GW of solar and wind power generation capacity by the year 2030. This would save more than $58 billion from avoiding coal-fired power generation, and the total savings would be $368 billion by 2030.
If India were to bring all its predetermined solar and wind power projects back on track, it would cost roughly $51 billion. But with annual savings of $19.5 billion by doing so, India can recover this cost in just two and a half years.
India accounts for 5% of the total utility scale solar power potential globally. In this case, it is only behind China, America and Australia. Apart from this, it ranks 17th in the world in terms of wind energy potential.
Speaking on the report, Shradheya Prasad, Project Manager, Global Wind Power Tracker, said “Save money, reduce pollution, India’s transition from coal to clean energy feels like a win-win. This is a promising step towards achieving the goal of making India a net zero emission country by the year 2070. India will become richer and cleaner by giving up coal.
“With the costs of solar and wind power steadily falling and fossil fuel prices rising, renewable energy offers a great alternative to building new electricity infrastructure.”
Responding to environmentalist Dr. Seema Javed, “India’s National Energy Policy (NEP) also envisages a significant increase in installed solar power capacity by 2030 and a reduction in coal capacity of the Central Electricity Authority. In the previous power plan released in the year 2018, a target was set to achieve an installed solar power capacity of 150 GW by the year 2027.
In the draft of the new power plan, increasing it by 36 MW, the target for the year 2027 has been increased to 186 GW. In such a situation, if India brings all its predetermined solar and wind power projects back on track, then roughly Global Energy Monitor According to the latest study, it can recover its cost in just two and a half years. Which is not a big deal considering the falling costs of solar and clean energy.”
The top 10 countries with the most potential for renewable energy in the world are as follows:
China (387,258 MW)
Australia (220,957 MW)
Brazil (217,185 MW)
America (204,585 MW)
Vietnam (93,585 MW)
Egypt (81,616 MW)
India (76,373 MW)
South Korea (76,153 MW)
Taiwan (67,296 MW)
Japan (55,147 MW)
Global Energy Monitor, Global Solar Power Tracker, Global Wind Power Tracker, Renewable Energy, Solar Power, wind power,