According to figures released by The Ministry of New and Renewable Energy (MNRE), 45,916 MW of renewable energy has been installed as of September 2016. Wind still accounts for the largest portion of the cumulative renewable energy capacity with 28 GW, but solar is catching up fast. Solar installations were ahead of other renewable sources in the current fiscal year, until September.
In the current financial year, solar is the most installed renewable energy source with 1.8 GW installed so far, followed by wind with 1.3 GW. Bio-power trailed with 51 MW installed, followed by nearly 50 MW in small hydro power and waste-to-power with 7.5 MW.
Mercom expects solar installations in India to reach approximately 4.5 GW in calendar year 2016.
Image credit: Pixabay
Raj Prabhu is a recognized thought leader in clean energy markets where his work has influenced policies worldwide. He has a deep understanding of regulatory policy and clean energy markets and his market and opinion pieces are regularly published on both MercomIndia.com and other leading publications globally. Raj is also a regular speaker and presenter on clean energy policy and finance topics at conferences worldwide. Raj attended the KLE College of Science in Bangalore, India for physics and chemistry, and holds a Bachelor of Science Degree in Hotel and Institutional Management from Johnson and Wales University, Rhode Island. More articles from Raj Prabhu.
