The transition was propelled by utility-scale installations, corporate procurement, domestic manufacturing, and targeted distributed programs like PM-KUSUM and PM Surya Ghar Muft Bijli Yojana. Without these clean additions since 2010, the country would have required roughly 110 million tonnes of extra coal imports in 2025 alone. Looking forward, national renewable capacity is projected to surge to 530 gigawatts by 2030, generating an estimated $240 billion in cumulative fuel import savings.
Key points
Expanding clean energy capacity significantly mitigates macroeconomic exposure to volatil…: Expanding clean energy capacity significantly mitigates macroeconomic exposure to volatile international coal and gas import markets.
Targeted domestic programs for rooftop solar and irrigation power are effectively support…: Targeted domestic programs for rooftop solar and irrigation power are effectively supporting large-scale utility renewable growth.
Long-term policy consistency can reduce project costs and provide a scalable deployment m…: Long-term policy consistency can reduce project costs and provide a scalable deployment model for other emerging economies.
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NEW DELHI: Expansion of renewable energy (RE) capacity over the past 15 years helped India save more than $100 billion in coal and natural gas import costs, the International Energy Agency (IEA) has said in a recent report.With 300GW of RE capacity, India has emerged as the world's second-fastest-growing renewables market, strengthening its energy security, the report said. India added 168GW of solar and 38GW of wind capacity between March 2014 and Sept 2026, while installed bioenergy capacity reached nearly 12GW. With RE capacity expected to reach 530GW by 2030, IEA estimated that cumulative savings on coal and natural gas imports could reach $240 billion by 2030, assuming international fuel prices remain broadly at their 2024-25 average levels. Annual savings are projected to reach around $35 billion by then, exceeding India's entire spending on non-coking coal and natural gas imports in FY25.The India Renewable Energy Market Report 2026 estimated that without the solar PV, wind and bioenergy capacity added since 2010, India's coal imports in 2025 would have been around 110 million tonnes higher.
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