Renewable Energy Installations in 2021

Renewable Energy Installations in 2021

News: India ranked third in renewable energy installations in 2021, after China and Russia, according to a Renewable 2022 Global status report published by REN21 (Renewable Energy Policy Network for the 21st Century).

About REN21:
 REN21 is the only global renewable energy community of actors from science governments, NGOs, and industry that keep track of global development in renewable sector.
 It was created in 2004 as an outcome of the Bonn2004 International conference on Renewable Energy.
 It enables the decision makers to make the shift to renewable energy happen now.

Key inputs from the Report:
 India installed 4 gigawatts (GW) of renewable energy projects in 2021
 India ranked fourth in total solar installations (60.4 GW) for the year overtaking Germany (59.2 GW) for the first time.
 Overall in the world, countries added around 3,146 GW of total installed renewable power capacity in 2021 which is a rise of 11% from the previous year.
 Despite the rise in installed capacity, the share of renewables in global energy use stagnated in 2021. The renewable energy capacities achieved so far come nowhere close to the targets required to keep the world on track to reach net-zero emissions by 2050.
 Despite the impacts of the COVID-19 pandemic, renewables saw a year of record growth in both investment and installation.
 The invasion of Ukraine added to the energy crisis. Governments, however, responded by increasing fossil fuel production and subsidies. This has caused a record surge in carbon dioxide emissions (up by 6%, adding more than two billion tonnes).

What are the steps taken by India to increase renewable energy installation?
 India has announced a target of 500 GW of renewable energy by 2030through sources such as solar photovoltaic (PV) energy, wind and hydropower.
 India extended its national solar production programme, which provides incentives to domestic and international companies for setting up battery manufacturing plants.
 In 2021, after India increased its cap on solar PV installations under its net metering scheme, the country’s rooftop PV market hit a record high.
 Other government initiatives such as Production Linked Incentive Scheme, Green Term Ahead, Day ahead market and Green Open access rules (which facilitates the generation, purchase and consumption of green energy including that produced by waste-to-energy plants).