India has ambitious targets for renewable energy growth. As part of its Union Budget 2015-2016, India aims to install 60 GW of wind power capacity and 100 GW of solar power capacity by 2022, which is more than six times the current installed capacities of approximately 22GW and 3GW, respectively.
The Government of India has set ambitious targets for renewable energy — a doubling of existing renew- able energy capacity to 55,000 MW by 2017. However, unsubsidized renewable energy is still 52-129% more expensive than conventional power, and requires policy support.
Financing of renewable energy in India: Implications for policy - A presentation by Gireesh Shrimali, David Nelson, Shobhit Goel, Charith Konda, Raj Kumar at the 4th National Research Conference on Climate Change, Indian Institute of Technology, Madras, October 26-27, 2013.
This new report published by Climate Policy Initiative (CPI) analyzes the challenges for designing national policy that will attract the investment needed to spur rapid growth in wind and solar energy at a reasonable cost.
