According to Markntel Advisors Report, India Renewable Energy Market is expected to grow at a significant growth rate, and the analysis period is 2025-2030, considering the base year as 2024.Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size & Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.

Renewable energy is energy from replenishable sources that can easily recover due to their near-unlimited supply, such as sun and wind. Renewable Energy includes solar, wind, hydro, biomass, and geothermal energy.

 

Global India Renewable Energy Market Research Report & Summary:

The India Renewable Energy Market size was valued at around USD 24 billion in 2024 and is projected to reach USD 37 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 9% during the forecast period, i.e., 2025-30.    

Time Period Captured in the Report:

• Historical Years: 2020-2023
• Base Years: 2024
• Forecast Years: 2025-2030

Who are the Key Players Operating in the India Renewable Energy Market?

The top companies of the India Renewable Energy Market ruling the industry are: 

NTPC, Tata Power, NLC India Limited, JSW Energy, Adani Green, NHPC, JP Power Ventures, SJVN, Waaree Energies, Suzlon, and Others

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What is Included in India Renewable Energy Market Segmentation?

The India Renewable Energy Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic.  The further bifurcations are as follows:

-By Source

-Solar – Market Size & Forecast, 2020-2030, MW

-Wind – Market Size & Forecast, 2020-2030, MW

-Hydro – Market Size & Forecast, 2020-2030, MW

-Others (Biomass, geothermal, etc.) – Market Size & Forecast, 2020-2030, MW

-By End User

-Residential – Market Size & Forecast, 2020-2030, MW

-Commercial – Market Size & Forecast, 2020-2030, MW

-Industrial – Market Size & Forecast, 2020-2030, MW

-By Region

-North & Central India

-South India

-East India

-West India

Explore the Complete India Renewable Energy Market Analysis Report – https://www.marknteladvisors.com/research-library/india-renewable-energy-market.html

India Renewable Energy Market Driver:

Government Initiatives & Policies Towards Renewable Energy – India generates most of its electricity from traditional fossil fuels-based energy sources. The production of electricity using fossil fuels consumes a lot of water and generates substantial greenhouse gas emissions, contributing to climate change. The changing global energy dynamics are increasingly causing countries to adopt cleaner energy sources to reduce their emissions. India aims to achieve its net zero emission target of 2070 and thus launched various schemes to promote electricity generation from renewable energy sources. These schemes include the New Solar Power Scheme, with an outlay of around USD 61 million under PM JANMAN to provide electricity to the un-electrified remote households of vulnerable tribal communities in India.

Additionally, schemes like PM KUSUM help farmers with financing for the installation of small standalone solar plants of a capacity of up to 2MW for solar pumps to ensure energy security for farmers. As per MNRE, under Component A of the PM KUSUM, around 300 MW of solar capacity has already been installed, with total sanctioned solar capacity standing at 9,110 MW as of September 2024. Furthermore, the Roof Top Solar (RTS) Programme aims to install a capacity of 40,000 MW worth of grid-connected rooftop solar panels. The RTS program has achieved a total installed rooftop solar capacity of around 11,870 MW by the end of FY24. The government of India plans to achieve a total non-fossil sources capacity of 500,000 MW by 2030, with renewable accounting for nearly 450,000 MW from the current of just over 200,000 MW in 2024 to ensure its energy security is driving the growth in the market.

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