India's renewable power generation has shown significant growth over the past decade, starting at 55.92 TWh in 2013 and reaching 182.82 TWh in 2023. The Compound Annual Growth Rate (CAGR) from 2013 to 2023 is approximately 13.19%. Variations over the years indicate periods of accelerated growth, such as 24.12% in 2017, and more moderate increases in recent years, with a 5.71% increase from 2022 to 2023. Forecast data suggests that renewable power generation is expected to grow at a CAGR of 3.1% over the next five years, reaching 223.73 TWh by 2028.
Future trends to watch for include:
- Government policies and incentives to promote renewable energy.
- Advancements in renewable energy technologies.
- Investment trends from both public and private sectors.
- Integration of renewable energy into the national grid and infrastructure development.
- Impact of geopolitical factors and global energy markets on renewable energy investments.