Chennai: With increasing capacity addition, the share of renewable energy generation is expected to go up from 21 per cent to 40 per cent by 2030 in the overall energy mix. Considering the inherent intermittency, addition of renewable energy capacity with storage is seeing traction. The share of renewable energy in the overall energy mix is expected to remain stable at nearly 21 per cent in FY25, with the balance largely contributed by thermal. However, the renewable energy capacity addition is expected to gain further traction in view of a strong pipeline, largely solar, and contribute 35-40 per cent to the generation mix by 2030. Given the expected energy demand growth and energy transition plans, the country needs to add 50GW of renewable energy capacity per annum till 2030. With a strong pipeline of 174GW as of September 2024 and healthy tendering activity, implementation remains key to achieve the set targets, said Vinitha Arunachalam, Analyst, Infrastructure, Ind-Ra. Of the all-India power generation capacity of 457GW as of November 2024, renewables have a share of 45 per cent of 205GW. The share of renewable energy sources is set to reach 55-60 per cent of the total capacity installed by FY30. However, due to intermittency and uncertainty of renewable energy, its share in power generation is low at 21 per cent. In order to address this challenge, the focus is on adding ‘renewable energy capacity with storage’. Further traction is expected in the tenders under renewable energy with storage in the coming years. The storage requirement is estimated to go up from 74GW in 2023 to 411GWh by 2032.
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