India's Renewable Energy Sector Attracts ₹15 Lakh Crore In 10 Years
India's renewable energy sector drew more than ₹15 lakh crore over the past decade, including nearly ₹6 lakh crore in the last two years, according to the Ministry of New and Renewable Energy.
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CTJ Desk
Published •10 min read
India's renewable energy sector has attracted more than ₹15 lakh crore in investment over the past decade, with nearly ₹6 lakh crore flowing in during the last two years alone, according to India's Ministry of New and Renewable Energy. The figures were announced by Union Minister for New and Renewable Energy Shri Pralhad Joshi at the closing session of Bharat Renewable Energy Summit & Expo 2026 in New Delhi.
The ministry also set out additional figures on storage support, power prices, manufacturing capacity and auctioned renewable projects, alongside participation numbers from the four-day summit.
More Than ₹15 Lakh Crore Was Invested Over A Decade
According to India's Ministry of New and Renewable Energy, Joshi said the country's renewable energy sector attracted more than ₹15 lakh crore over the last 10 years. He added that nearly ₹6 lakh crore entered the sector in just the last two years.
The figures were presented at Bharat Renewable Energy Summit & Expo 2026, which the minister described as the largest renewable energy event hosted in India. According to the ministry, the event drew over 75,000 visitors from 135 countries, with participation from more than 32 international ministers, over eight partner countries and the European Union.
The summit also included 14 states and union territories as partners, six chief ministers, 10 state energy ministers, over 400 exhibitors, more than 620 speakers and 113 sessions. It featured the 9th International Solar Alliance Assembly and the 4th International Conference on Green Hydrogen.
According to the Ministry of New and Renewable Energy release on the summit and investment figures, the event also had 800 international delegates and produced 10 MoUs and framework agreements. One of those, the SECI MoU, has the potential to supply 3 lakh tonnes of green methanol per annum.
During the summit, Joshi also held bilateral discussions with France, Denmark, the Canada Pension Plan Investment Board and several countries from the Global South to explore opportunities for cooperation and investment.
₹14,500 Crore Storage Scheme Covers 92 GWh Across Three Technologies
The ministry said Joshi highlighted a Union Cabinet decision taken the previous day to approve a ₹14,500 crore Viability Gap Funding scheme for 92 GWh of grid-scale energy storage capacity.
That 92 GWh total is split across three technology groups named by the ministry: 30 GWh of Battery Energy Storage Systems, 60 GWh of Pumped Storage Projects and 2 GWh through new technologies.
Storage Technology | Capacity |
|---|---|
Battery Energy Storage Systems (BESS) | 30 GWh |
Pumped Storage Projects (PSPs) | 60 GWh |
New Technologies | 2 GWh |
According to the Ministry of New and Renewable Energy, Joshi said expanding renewable energy capacity will require stronger transmission networks, greater storage capacity and smarter grids. He also said digitalization and artificial intelligence will be important in forecasting, predictive maintenance and energy management.
The Vice-President of India, Shri C. P. Radhakrishnan, also addressed the valedictory session. According to the ministry, he highlighted clean energy's role in households, farmers and communities, and called for stronger industry-academia collaboration.
Solar Costs, Import Savings And Hybrid Auctions Were Also Detailed
The ministry said Joshi reported utility-scale solar generation costs of USD 30-35 per MWh, equivalent to ₹2,840-₹3,313 per MWh. He also said renewable energy has helped India save more than USD 100 billion in fossil fuel imports, equal to about ₹9.46 lakh crore.
On project auctions, according to the Ministry of New and Renewable Energy, India auctioned 15 GW of hybrid renewable energy projects in 2025, taking the total auctioned capacity to 64 GW. Joshi said both figures were the highest volumes anywhere in the world.
The ministry also said the average tariffs achieved between 2023 and 2025 were around USD 45 per MWh, or ₹4,260 per MWh. Joshi said that level was 20 per cent below the average cost of electricity from coal-fired power plants.
These figures, the ministry said, were also featured in the International Energy Agency's India RE Market Report 2026: Analysis and Forecast to 2030, which was launched during the summit.
Solar Manufacturing Capacity Crossed 225 GW And Distributed Solar Is Set To Exceed 100 GW By 2030
According to the Ministry of New and Renewable Energy, Joshi said India's solar module manufacturing capacity has crossed 225 GW. He also said India is the world's second-largest manufacturer of solar modules.
The ministry said Joshi further stated that distributed solar capacity for self-consumption will exceed 100 GW by 2030.
He also linked future electricity demand growth to digital infrastructure. According to the ministry, AI data centers are expected to add 26.3 GW of electricity demand by 2031-32. Joshi said renewable energy would play the primary role in meeting that additional load.
Taken together, the figures presented by the ministry place the decade-long investment total of more than ₹15 lakh crore alongside a newer set of spending, capacity and pricing indicators: nearly ₹6 lakh crore invested in the past two years, ₹14,500 crore approved for storage support, 92 GWh of storage capacity under that scheme, 225 GW of solar module manufacturing capacity, and 64 GW of hybrid renewable projects auctioned in total.
The ministry said Minister of State for New and Renewable Energy and Power Shri Shripad Yesso Naik, Principal Scientific Adviser to the Government of India Dr. Ajay Kumar Sood, and Ministry of New and Renewable Energy Secretary Shri Santosh Kumar Sarangi were present at the closing session.
