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India will need Rs 30 lakh crore to achieve 500GW of RE by 2030 : Pralhad Joshi

India aims to achieve 500 GW of non-fuel based energy by 2030, with a focus on solar and wind power. The government has set a target of 40% of the total energy mix to be non-fuel based by 2030.

India’s Renewable Energy Vision

A Comprehensive Approach

India’s renewable energy vision is ambitious and comprehensive, aiming to achieve 500 GW of non-fuel based energy by 2030. This target is expected to be met through a combination of public sector banks, financial institutions, and international credit. The government has set a target of 40% of the total energy mix to be non-fuel based by 2030, indicating a significant shift towards a low-carbon economy.

Solar and Wind Power: The Primary Focus

The government’s focus is on solar and wind power, with a target of 300 GW of solar power and 200 GW of wind power by 2030.

“We are working on it,” he said.

The Ministry of Renewable Energy’s Efforts to Reduce Project Risks

The Ministry of Renewable Energy has been actively engaged in monitoring and mitigating project risks in the renewable energy sector.

“We need to ensure that our renewable energy sources are sufficient to meet this growing demand.”

India’s Renewable Energy (RE) Target: A Challenge for the Government

The Ambitious Goal

The Indian government has set an ambitious target of achieving 500 GW of renewable energy (RE) by 2030. This goal is part of the country’s efforts to reduce its dependence on fossil fuels and mitigate the impact of climate change.

The minister also mentioned that India’s solar power capacity has reached 74.3 GW as of January 31, 2025. The minister stated that the government is committed to increasing the share of renewable energy in the country’s energy mix to 40% by 2030.

The scheme aims to provide 100% renewable energy to 1.5 million farmers across the country.

Introduction

The Pradhan Mantri-Kushal Vikas Yojana (PM-KUSUM) is a flagship scheme of the Indian government aimed at promoting renewable energy and empowering farmers. The scheme has been designed to provide 100% renewable energy to 1.5 million farmers across the country, with a focus on decentralised solar plants and solar-powered irrigation systems.

Key Objectives

  • Decentralised Solar Plants: The scheme aims to deploy 10 GW of decentralised solar plants on farmer-owned lands, providing a reliable source of renewable energy to farmers. Solar Pumps: The scheme seeks to install 14 lakh standalone solar pumps, which will provide irrigation to farmers and reduce their dependence on fossil fuels. Grid-Connected Pumps: The scheme also aims to solarise 35 lakh grid-connected agricultural pumps, reducing the carbon footprint of the agricultural sector.

    The PMSGMBY Initiative: A Beacon of Hope for Energy-Efficient Homes

    The Prime Minister’s Government has launched a flagship initiative, PMSGMBY, aimed at promoting energy efficiency and reducing energy consumption in households. The program offers free electricity through subsidised rooftop solar panels, providing a sustainable and cost-effective solution for households to reduce their energy expenses.

    Key Features of PMSGMBY

  • Free Electricity: The program offers free electricity to households that install subsidised rooftop solar panels. Subsidised Rooftop Solar Panels: The government provides subsidies to households to install rooftop solar panels, making it more affordable for them to switch to renewable energy. Energy Efficiency: The program promotes energy efficiency by encouraging households to reduce their energy consumption and reliance on non-renewable energy sources. ### Benefits of PMSGMBY**
  • Benefits of PMSGMBY

  • Reduced Energy Expenses: The program helps households reduce their energy expenses by providing free electricity through subsidised rooftop solar panels. Increased Energy Independence: By generating their own electricity, households can reduce their reliance on the grid and become more energy-independent. Environmental Benefits: The program promotes the use of renewable energy, reducing greenhouse gas emissions and contributing to a cleaner environment.
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