MarkNtel Advisors recently published a detailed industry analysis of the India Renewable Energy Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
Insights and Analysis of the India Renewable Energy Market (2025-2030)
The India Renewable Energy Market size was valued at around USD 24 billion in 2024 and is projected to reach USD 37 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 9% during the forecast period, i.e., 2025-30.
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What is driving the India Renewable Energy Market?
Government Initiatives & Policies Towards Renewable Energy – India generates most of its electricity from traditional fossil fuels-based energy sources. The production of electricity using fossil fuels consumes a lot of water and generates substantial greenhouse gas emissions, contributing to climate change. The changing global energy dynamics are increasingly causing countries to adopt cleaner energy sources to reduce their emissions. India aims to achieve its net zero emission target of 2070 and thus launched various schemes to promote electricity generation from renewable energy sources. These schemes include the New Solar Power Scheme, with an outlay of around USD 61 million under PM JANMAN to provide electricity to the un-electrified remote households of vulnerable tribal communities in India.
Additionally, schemes like PM KUSUM help farmers with financing for the installation of small standalone solar plants of a capacity of up to 2MW for solar pumps to ensure energy security for farmers. As per MNRE, under Component A of the PM KUSUM, around 300 MW of solar capacity has already been installed, with total sanctioned solar capacity standing at 9,110 MW as of September 2024. Furthermore, the Roof Top Solar (RTS) Programme aims to install a capacity of 40,000 MW worth of grid-connected rooftop solar panels. The RTS program has achieved a total installed rooftop solar capacity of around 11,870 MW by the end of FY24. The government of India plans to achieve a total non-fossil sources capacity of 500,000 MW by 2030, with renewable accounting for nearly 450,000 MW from the current of just over 200,000 MW in 2024 to ensure its energy security is driving the growth in the market.
What segments define the India Renewable Energy Market from 2025 to 2030? How do these segments contribute to market dynamics and growth?
By Source
(Solar, Wind, Hydro, Others (Biomass, geothermal, etc.)),
By End User
(Residential, Commercial, Industrial)
Region
(North & Central India, South India, East India, West India)
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Who are the leading key players shaping the India Renewable Energy Market landscape?
NTPC, Tata Power, NLC India Limited, JSW Energy, Adani Green, NHPC, JP Power Ventures, SJVN, Waaree Energies, Suzlon, and Others
Questions Addressed in this Study
1.What factors are driving the India Renewable Energy Market growth?
2.How is the India Renewable Energy Market expected to grow over the next five years?
3.What are the key insights into the current trends in the India Renewable Energy Market?
4.What is the current size of the India Renewable Energy Market, and how is it projected to change in the future?
6.What is the future outlook for the India Renewable Energy Market in terms of technological advancements and market expansion?
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Why MarkNtel Advisors?
MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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