how is the country progressing towards its target of achieving 175 GW of renewable energy capacity by 2022

The country is making significant progress towards achieving its target of 175 GW of renewable energy capacity by 2022. Here are the key points:
  • Increasing installed capacity: The country's renewable energy capacity has been rapidly increasing over the years. As of January 2021, the installed renewable energy capacity stands at around 93 GW, more than half of the target.
  • Focus on solar energy: Solar energy has been a major driver in achieving the renewable energy goal. The country has become the world's third-largest solar market, with a cumulative installed solar capacity of around 40 GW.
  • Wind energy growth: The country has also witnessed significant growth in wind energy capacity. The installed wind capacity is currently around 39 GW, contributing to the renewable energy target.
  • Policies and incentives: The government has implemented various policies and incentives to encourage renewable energy development. This includes a mix of financial incentives, favorable regulations, and tax benefits for both domestic and foreign investors.
  • Investment and partnerships: The country has attracted substantial investment in renewable energy projects and has formed partnerships with international organizations to accelerate the development of renewable energy infrastructure.
  • Innovations and technology: There has been a focus on innovation and technology advancements in the renewable energy sector, which has helped increase efficiency and reduce costs, making it more viable for widespread adoption.
Overall, the country is on track to achieve its renewable energy capacity target by 2022, with consistent efforts to expand the capacity and implement favorable policies to promote renewable energy adoption.
Answered 2 years ago
Amrita Aspirants