Economic Survey highlights the growth of the renewable energy sector

The Economic Survey has highlighted that renewable energy (excluding large hydro) constitutes over 24.71 per cent of the country’s installed power capacity and around 10.7 per cent of the electrical energy generation during 2020-21. As of October 2021, India’s total renewable energy installed capacity (excluding hydropower above 25 MW) has reached over 103.05 GW. The survey has also pointed out that India’s investment in research and development to switch to renewable energy sources faster will be the key to its climate change mitigation plan. The survey also calls for a diversified mix of sources of energy, of which fossil fuels are an important part, but simultaneously calls for focus on building storage for intermittent electricity generation from solar PV and wind farms to ensure on-demand energy supply.