Renewable energy (RE) sources contributed to 71 per cent of the -26GW of power generation capacity that India added in FY 2023-24, according to the latest edition of the CEEW Centre for Energy Finance (CEEW-CEF) Market Handbook released on May 2. The country's total installed energy capacity has now reached 442 GW, of which ~144 GW (33 per cent) was RE, and ~47 GW (11 per cent) came from hydro. Consequently, the coal/ lignite share in India's total installed capacity tipped below the 50 per cent mark for the first time. The handbook also found that solar-gridscale and rooftop-continued to dominate India's RE capacity addition, accounting for ~15 GW (or 81 per cent of RE addition) in FY24. Wind capacity addition almost doubled and stood at 3.3 GW (vs 2.3 GW in FY23). Notably, for the first time since FY17, nuclear capacity (1.4 GW) was added in FY24.
Some new efforts to harness RE sources are cropping up in the agricultural sector. Wind and solar power systems work together to make RE more efficient and dependable for farming. By utilising these devices, power continuity is maintained even in situations where solar generation is minimal, for as on overcast days or at night. In areas rich in wind and solar electricity, researchers are looking into hybrid systems that can power farms around the clock. In areas where power outages are common, solar pumps offer a dependable and economical way to water crops. They are useful because they lessen farmers' operational expenses and carbon footprint.
Commenting on these developments, Narinder Mittal, Country Manager & Managing Director, Agriculture Business - CNH Industrial India and SAARC, stated, "Utilising RE to conduct agriculture operations is a very productive step as it will not only cut down on farmers' expenses but it will also help them to increase the quality of their product by embedding innovative solutions into their daily operations."
Agrivoltaics Advantage
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