Forecast: Share of Renewable Energy and Nuclear Energy Use in India

Analyzing the share of renewable energy and nuclear energy use in India, we observe a steady increase. In 2023, the share stood at 3.05 units of energy use. Year-on-year variation highlights modest growth, with percentages fluctuating slightly over the years but generally trending upward, reflecting consistent advancements in renewable and nuclear energy deployment. For instance, from 2021 to 2023, the growth rates were approximately 1.3%, 1.26%, and 1.22% respectively. The CAGR over the last five years from 2018 to 2023 averaged at 1.3%, indicating stable incremental progress.

Looking at future trends up to 2028, the forecasted data suggests a continued rise, with a forecasted 5-year CAGR of 0.87%, implying slightly reduced growth momentum. Expect an overall growth rate of 4.43% over the forecasted period. This suggests that while expansion in renewable and nuclear energy use may persist, the pace might be moderate.

Future Trends to Watch For:

- Technology advancements in renewable energy

- Policy and regulatory changes favoring clean energy

- Investments in infrastructure to support renewable and nuclear energy