This article is part of a six-month BULLETIN series exploring GE’s innovation, technology, and manufacturing initiatives in India. India may be an emerging superpower, but the country’s ever-growing energy demands reveal significant challenges for future growth. An over-dependence on fossil fuels, especially coal, inadequate transmission infrastructure, and counter-productive regulatory hurdles are only a few of the issues India faces. Nearly 300 million people have no access to electricity because roughly 25% of the electricity generated is lost to inefficient transmission.India is now looking to wind energy to overcome these challenges. In fact, wind energy could provide for about 20% of the global electricity demand by 2030, according to the Global Wind Energy Council (GWEC).
Currently, almost 60% of India’s 245 GW of capacity is based on coal and about 82% of the total electricity generated comes from thermal power sources. But India has taken measures to shift at least a portion of its power generation base to renewable energy sources. Earlier this year, India reached an installed renewable energy capacity of 31.7 GW, or over 12% of the total installed power capacity. Wind energy now leads all other renewable energy technologies installed in India with a share of over 66%.
The relatively low cost of equipment, early introduction of financial incentives from the government, and the fact that wind is a freely available resource have all contributed to the high share of market for renewables.