India’s renewable energy sector stands at a pivotal juncture as we approach the 2025 budget announcement. Initiatives like Muft Bijli Yojana are driving significant adoption of solar energy. Over 6 lakhs plus solar installations in just nine months is indeed impressive. This remarkable growth highlights the increasing demand for clean energy solutions.
In addition, the government’s focus on enhancing Production Linked Incentive (PLI) schemes for solar component manufacturing is set to boost domestic manufacturing capabilities. This move will not only reduce India’s reliance on imported components, but also drive innovation, reduce costs, and make the sector more competitive globally in the current geopolitical context as well. The momentum in the solar industry shall ensure that the government’s target of 500 GW of non-fossil fuel capacity by 2030 is surpassed.