Developers plan to add 14.3GW of battery storage capacity to the grid in 2024.
Renewables surged to a record 44% share, with wind surpassing gas for the first time.
The world’s ninth-largest economy still sources the bulk of its electricity from hydro plants, but wind and solar are taking an ever-larger share of the mix.
The equivalent of 113% of Scotland’s electricity consumption in 2022 was generated from renewable sources.
The clean energy sector accounted for 40% of GDP growth in 2023.
Further, the states with the highest share of renewables in the mix had the lowest spot prices.
Solar will play a key role if India is to achieve its goal of installing 500GW of renewable energy by 2030
This power sector’s emissions are slipping into a long-term structural decline.
And 10 of those states have below-average power prices.
However, much quicker progress is required to achieve the goals of the Paris Agreement.