In FY 2023-2024, renewable energy accounted for a significant portion of India’s newly added power generation capacity, with solar energy dominating the renewable energy addition. The share of coal and lignite in India’s total installed capacity fell below 50% for the first time. The report also highlights the rise in peak power demand and the increase in foreign investment in non-conventional energy.
India’s power consumption increased by nearly 8.5% to 119.64 billion units in November, attributed to festivities and increased economic activities. The peak power demand also rose significantly compared to the previous year. Experts expect a steady growth trend in power consumption due to improvements in economic activities.