NEWS – In 2023, India surpassed Japan to become the world’s third-largest producer of solar power, generating 113 billion units (BU) compared to Japan’s 110 BU.

HIGHLIGHTS

• India climbed from ninth place in 2015 to become the world’s third-largest solar power generator in 2023, surpassing Japan.
• Solar energy contributed significantly to India’s electricity generation, reaching 5.8% of total electricity production in 2023.
• Global Solar Growth Trends:
  • Solar energy achieved a milestone in 2023, contributing 5.5% to global electricity production.
  • Top countries like China, the United States, Brazil, and India collectively accounted for 75% of global solar growth in 2023.
• Rapid Growth of Solar Energy:
  • Solar power is growing at an unprecedented pace globally, outpacing coal in new electricity additions by more than twofold in 2023.
  • India experienced a seventeen-fold increase in solar generation from 2015 to 2023, indicating rapid adoption and expansion.
• Future Trajectory of Solar Energy:
  • Solar energy is projected to play a pivotal role in decarbonizing electricity and shaping the future energy landscape.
  • The IEA Net Zero Emissions scenario predicts solar energy’s contribution to rise to 22% of global electricity generation by 2030.
• India’s Commitment to Renewable Energy:
  • India aims to triple its renewable capacity by 2030, aligning with global efforts to advance clean energy solutions.
  • Meeting ambitious targets will require significant ramp-up of annual capacity additions in solar and other renewable sources.
• Importance of Clean Electricity:
  • Increasing clean electricity production is essential not only for reducing carbon emissions but also for meeting rising electricity demand and decoupling economic growth from emissions
• Other highlights
  • India ranks fifth globally in installed power capacity at 73 gigawatts (GW), while Japan holds the third position with 83 GW, as per data from Ember.
  • India ranks fifth globally in installed power capacity at 73 gigawatts (GW), while Japan holds the third position with 83 GW, as per data from Ember
  • To surpass the United States, India would need to more than double its current solar production and exceed 228 BU, presenting a significant challenge