The Indian government has presented its Economic Survey 2018-19 to the Parliament, which estimates that US$330bn will be invested in renewable energies through 2030: investments in renewable power plants - not including power transmission projects - until 2022 could reach US$80bn (at today's prices) and an additional US$250m would be required over the 2023-2030 period, corresponding to an average US$30bn/year investment level.
India aims to reach 175 GW of renewable power capacity by 2022, including 100 GW from solar, 60 GW from wind, 10 GW from bio energies and 5 GW from small hydropower. Declining technology costs and improved efficiency and reliability are boosting renewable installations. Around 27 GW is currently under installation and more than 38 GW is under bidding process.
However, coal, whose consumption rose by 9% in 2018-2019, will remain central in Indian power generation for at least the next three decades.