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Daily News Wrap-Up: Renewables Account for 41% of Installed Power Capacity in 2022

EV Makers Expect Tax Cuts and Incentives in Budget 2023

January 31, 2023

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At the end of the calendar year (CY) 2022, India’s renewable energy capacity, including large hydroelectric projects, made up 40.75% of the country’s cumulative power capacity, with 166.9 GW, according to data from the Central Electricity Authority (CEA), the Ministry of New and Renewable Energy (MNRE), and Mercom’s India Solar Project Tracker. The total renewable energy share in the power mix increased marginally from 163.7 GW, which was 40.3% of the overall power capacity mix in the previous quarter. According to the data, solar power accounted for a significant portion of the total power capacity and also renewables. It made up 15% of the total installed power capacity and 37% of the total installed renewable capacity. This is an increase of 0.6% from the last quarter, where solar accounted for 36.4% of the total renewable capacity.

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