India’s Renewable Energy Goals for 2030

**1. Feasibility of Meeting 50% Renewable Energy Target:

• India’s Commitment: India has set a target of achieving 50% of its energy needs from renewable sources by 2030 as part of its Nationally Determined Contributions (NDCs) under the Paris Agreement. This ambitious goal is supported by significant investments in solar and wind energy.
• Current Progress: As of early 2024, India has achieved around 25% of its total installed capacity from renewable sources, with a notable increase in solar and wind installations. For instance, India’s solar power capacity reached 64.7 GW by March 2023, and the government is actively working to expand this further.

**2. Recent Developments:

• International Partnerships: India’s involvement in international initiatives, such as the International Solar Alliance (ISA), helps in mobilizing resources and technology for renewable energy projects.
• Policy Support: Policies like the National Solar Mission and the Green Energy Corridor aim to boost renewable energy integration and grid stability.

**3. Role of Subsidy Shift in Achieving Targets:

• Reducing Fossil Fuel Dependence: Shifting subsidies from fossil fuels to renewables would reduce the financial burden on renewable energy projects and make them more competitive. Currently, fossil fuel subsidies distort market prices and delay the transition to cleaner energy.
• Encouraging Investment: Redirecting subsidies to renewables would incentivize private sector investment and lower the cost of renewable technologies. For example, the Government of India’s Production Linked Incentive (PLI) scheme for solar modules aims to enhance domestic manufacturing and reduce costs.
• Supporting Infrastructure: Subsidies can be used to develop necessary infrastructure, such as battery storage and smart grids, which are essential for managing the intermittency of renewable energy sources.

**4. Challenges and Mitigation:

• Grid Stability: Integrating a high share of renewables requires upgrades in grid infrastructure to handle variable energy supplies. Investments in smart grids and energy storage solutions are crucial.
• Policy and Regulatory Framework: Ensuring consistent and supportive policies is essential for attracting investments and achieving targets. The Renewable Purchase Obligation (RPO) mandates ensure that utilities meet renewable energy requirements.

Conclusion: Achieving the 50% renewable energy target by 2030 is feasible with continued commitment, technological advancements, and a strategic shift in subsidies from fossil fuels to renewable energy. This transition will not only support India’s climate goals but also drive sustainable economic growth.