Forecast: Total (Excluding Solid Biofuels) Renewable Energy in India

The total renewable energy supply in India, excluding solid biofuels, demonstrated an upward trend from 2013 through 2023, with an actual value of 3.32 units in 2023. There were fluctuations, with notable increases of 8.85% in 2018 and 11.14% in 2019, while 2014 and 2020 saw minor declines. The five-year CAGR as of 2023 stood at 3.35%, indicating a steady average annual growth. Forecasts predict sustained growth, with the total renewable energy supply expected to reach 3.69 units by 2028, supported by a forecasted five-year CAGR of 1.65%.

Future trends to watch for include advancements in renewable technologies, government policies aiding renewable energy adoption, and increased private sector investment. These factors are likely to drive the renewable energy market further, underpinning India’s commitment to sustainable energy goals.