India Ranks 3rd Globally

As per the REN 21’s Renewables 2022 global status, India has added around 15.4GW of renewable power capacity in 2021, the third-highest after China 136GW and the United States 43GW and achieved with this, the fourth rank in the world for total solar energy installations 60.4GW by overtaking Germany at 59.2 GW and following China 305.9 GW, US 121.4 GW, and Japan 78 GW.

Despite supply chain disruptions due to COVID- 19 pandemic and surging prices for wind and solar energy components, India has now achieved an important position in the global solar market in terms of renewable energy generation, as per the reports.

REN21’s Renewables 2022 Global Status Report (GSR 2022) sends a clear warning that the global clean energy transition is not happening, making it unlikely that the world will be able to meet critical climate goals this decade.

The second half of 2021 saw the beginning of the biggest energy crisis in modern history, exacerbated by the Russian Federation’s invasion of Ukraine in early 2022 and unprecedented global commodity shock.

Ran Adib, REN21 Executive Director, said, in 2021, although many governments had committed to net-zero greenhouse gas emissions, yet the reality is that, in response to the energy crisis, most countries have gone back to seeking out new sources of fossil fuels and to burn even more coal, oil, and natural gas.

India according to the report, added 843 MW of hydropower capacity in 2021, raising the total capacity to 45.3 GW.

India was the second-largest market in Asia for new solar PV capacity and third globally (13 GW of additions in 2021). It ranked fourth for total installations (60.4 GW), overtaking Germany (59.2 GW) for the first time.

India ranked third globally for the total installed capacity of wind power (40.1 GW), behind China, the US, and Germany.

The GSR annually takes stock of renewable energy deployment worldwide. The 2022 report, released on Wednesday, is the 17th consecutive edition and provides proof of what experts have been warning about: the overall share of renewables in the world’s final energy consumption has stagnated — rising only minimally from 10.6 percent in 2009 to 11.7 percent in 2019 — and the global shift of the energy system to renewables is not happening.

In the electricity sector, record additions in renewable power capacity (314.5 gigawatts, up 17 percent from 2020) and generation (7,793 terawatt-hours) were unable to meet the overall increase in electricity consumption of six percent.

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Resource: The Hindustan Times & The Economic Times

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