India’s Renewable Energy Surge: Ambitious Targets and Job Creation

by IS_Indust
Renewable Energy

India has made significant strides in renewable energy, cementing its position as a global leader in this sector. As of November 2023, India stands 4th globally in Renewable Energy installed capacity, 4th in wind power capacity, and 5th in Solar Power capacity, according to the International Renewable Energy Agency’s Renewable Capacity Statistics 2023.

The Indian government’s initiatives have played a crucial role in this progress. The Ministry of New and Renewable Energy has approved 50 solar parks with an aggregate capacity of around 37,490 MW in 12 states across the country. These efforts have laid the foundation for a sustainable energy future.

At COP26 in 2021, India committed to an ambitious ‘Panchamrit’ pledge, which includes reaching 500 GW of non-fossil electricity capacity, generating half of all energy requirements from renewables, reducing emissions by 1 billion tons by 2030, and achieving net zero emissions by 2070. Currently, about 44% of India’s energy requirements come from non-fossil sources, and this figure is expected to reach as high as 65% by 2030, exceeding the country’s COP26 commitments.

India’s green transition is not only evident in its energy sector but also in the job market. Studies suggest that India has the potential to create 35 million green jobs by 2047. The Clean Energy sector is expanding rapidly, leading to a surge in demand for renewable energy professionals. In 2021-22, hiring in the renewable energy sector was 8 times higher than in 2020-21, with the solar and wind energy sectors alone adding close to 53,000 workers in project development roles, as per a report by CEEW-NRDC and the Skill Council for Green Jobs.

India’s ambitious targets and the growing green job market demonstrate its commitment to a sustainable future. The country’s leadership in renewable energy and its efforts to create green jobs will not only contribute to global climate action but also drive economic growth and job creation within the nation.

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