India is advancing toward its 2030 renewable energy goal, yet solar exports surge may impact domestic supply.

India is on track to meet its 2030 target of 500 GW of renewable energy capacity, currently at 200 GW, thanks to commitments from states, PSUs, and private companies. The country is also expanding its solar exports, with a 23-fold increase in PV module exports from FY22 to FY24, aiming to lead US imports. However, this growth may strain domestic supply for India’s renewable energy goals. Global solar investment is expected to reach $500 billion in 2024, attracting significant interest from international investors.

November 10, 2024
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