India prevented vast fossil fuel import expenses between 2011 and 2025 by relying on rapid additions of solar, wind, and bioenergy capacity. These non-fossil sources enabled the country to achieve its target of 50% non-fossil installed electricity capacity in 2025, reaching the milestone five years ahead of schedule. Without these green installations, India would have been forced to import an extra 110 million tonnes of coal in 2025 alone. Programs like the PM Surya Ghar and PM-KUSUM schemes have further accelerated adoption across residential rooftops and agricultural irrigation.
Key points
Cumulative fossil fuel import savings could climb to nearly $240 billion by 2030 if inter…: Cumulative fossil fuel import savings could climb to nearly $240 billion by 2030 if international fuel prices stay near recent averages.
Reaching 50% non-fossil installed power capacity five years early established India as th…: Reaching 50% non-fossil installed power capacity five years early established India as the second-fastest-growing renewable energy market globally.
Government initiatives including Production Linked Incentives have turned the country int…: Government initiatives including Production Linked Incentives have turned the country into the world's second-largest manufacturer of solar panels.
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India's growing renewable energy capacity has helped the country avoid more than $100 billion in coal and natural gas import costs between 2011 and 2025, strengthening its energy security while reducing dependence on overseas fuel supplies, according to a report by the International Energy Agency (IEA).
The savings from solar, wind and bioenergy generation could more than double by the end of the decade as India continues to add renewable power capacity, the IEA said in its India Renewable Energy Market Report 2026.
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Cumulative savings on coal and natural gas imports could reach nearly $240 billion by 2030, equivalent to around Rs 22.6 lakh crore, the report estimated. The projection assumes international fuel prices remain broadly at their 2024-25 average levels.
Annual savings could climb to around $35 billion, or Rs 3.3 lakh crore, by 2030. This would be higher than India's total expenditure on non-coking coal and natural gas imports in FY25, according to the IEA.
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