Forecast: Renewable Electricity in India

Analyzing renewable electricity production in India, values have shown some fluctuation over the past decade. The data indicates a period of dynamic growth from 2013 to 2020, with variations moving from negative dips around mid-decade to a steady increase peaking at 21.1 units. However, from 2021 to 2023, electricity production stabilized at 20.87 units, a trend that is forecasted to continue through 2028.

Specifically, year-on-year variation showed notable volatility with significant growth in 2013, a decline in 2014-2015, recovery in the latter part of the decade, followed by stabilization from 2021 onwards. The compound annual growth rate (CAGR) over the last five years leading to 2023 stood at 3.11%, reflecting moderate sustained growth.

Future trends to watch for:

• Technological advancements in renewable energy projects
• Policy changes and governmental support for green energy
• Investments in infrastructure and grid modernization
• Market demand shifts and fossil fuel dependency reduction