International Energy Agency: Green energy development helped India save over $100 billion in 15 years

According to a recent report by the International Energy Agency (IEA), the expansion of renewable energy (RE) capacity over the past fifteen years has allowed India to save over $100 billion by avoiding expenditures on coal and natural gas imports.

With existing RE capacities of 300 GW, India has become the world's second fastest-growing renewable energy market, strengthening its energy security. Between March 2014 and September 2026, India added 168 GW of solar and 38 GW of wind capacity, while installed bioenergy capacity reached nearly 12 GW.

The IEA forecasts that by 2030, if international fuel prices remain around the average level of 2024–2025, the cumulative savings from coal and natural gas imports could reach $240 billion. The annual savings at that time are projected to be about $35 billion, which will exceed India's total expenditure on non-coking coal and natural gas imports in fiscal year 25.

The 'India Renewable Energy Market Report 2026' also showed that without the addition of solar photovoltaic, wind, and bioenergy capacities since 2010, India's coal imports in 2025 would have been approximately 110 million tons higher.

IEA Executive Director Fatih Birol noted that India's experience demonstrates how consistent policy can reduce renewable energy costs and attract investment, providing valuable lessons for other developing economies.

India achieved its goal of ensuring 50% of installed electricity capacity from non-fossil fuels in 2025, five years ahead of schedule. The IEA emphasized that this growth was not only due to large-scale projects but also to rooftop solar installations, corporate RE procurement, and the expansion of domestic production. Special attention was paid to the PM Surya Ghar Muft Bijli Yojana program to accelerate rooftop solar panel installation and PM-KUSUM to support solar-powered irrigation pumps and farm feeders.

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www.aajtak.inNovember 2, 17:47

Amid Global Crisis, India Unveils Major Energy Plan Opening Up ₹20 Trillion Opportunities

Despite tensions in the Middle East and the global energy crisis, India's economic growth demonstrates resilience. Prime Minister Narendra Modi announced that India is prepared to add approximately 500 gigawatts (GW) of additional renewable energy over the next 10–11 years, irrespective of global turmoil.

At the opening ceremony of the 'India Renewable Energy Summit and Expo 2026' in New Delhi on Monday, the Prime Minister highlighted the country's plans for its energy future. He noted that the world has faced severe economic shocks, starting from the coronavirus pandemic and the Middle East crisis.

Modi emphasized that despite the ongoing Middle East crisis, 140 million Indians can be proud that the country has managed this situation more effectively, and India's growth remains high. In his view, energy security is the foundation of economic stability. He also warned that without investments in clean energy and the creation of new systems over the last decade, the energy crisis in India could have been more severe than in other parts of the world.

Achieving Paris Agreement Goals Ahead of Schedule

In his speech, the Prime Minister presented India's achievements. He stated that more than half of the installed power generation capacity in the country is now based on non-fossil fuel sources. Although India committed to achieving this goal by 2030 under the Paris Agreement, the country achieved it five years earlier, in 2025. Currently, the share of non-fossil fuels in India exceeds 300 GW. The Prime Minister expressed confidence that the goal of 500 GW of non-fossil energy will be met by 2030.

₹20 Trillion Investment Opportunities

Modi stated that India's political and legislative stability creates an ideal environment for investment in the renewable energy sector. He forecasts that opportunities for investment in India's renewable energy sector worth over ₹20 trillion will emerge by the end of this decade. Furthermore, mentioning the National Green Hydrogen Mission, he noted that India is rapidly moving towards the target of 50 million tons of annual production capacity. The government has allocated ₹200 billion for the second phase of the Green Energy Corridor.

The Prime Minister shared his vision for farmers and startups. He said: 'My vision is for our food producer to become an energy producer. Farmers should install solar panels on their unused land, and we must ensure this in as many villages as possible.' He urged IIT institutions, startups, and entrepreneurs to develop innovations and models that allow ordinary families to meet their daily needs through solar energy. Modi also reported that over 44,000 government buildings in the country are already connected to solar energy, leading to annual savings of about ₹700 million.

business-standard.comNovember 2, 15:35

Prime Minister Modi announced high economic growth in India despite the Middle East crisis

Prime Minister Narendra Modi emphasized on Monday that India's economic growth remains at a high level, despite the ongoing crisis in the Middle East. He also highlighted the need to accelerate the country's transition to clean energy and strengthen domestic energy storage capabilities.

Speaking at the 'Bharat Renewable Energy Summit', Modi stated that India is among the top three global leaders in solar and renewable energy. He defined clean energy as the foundation of future energy security and called for wider adoption of solar energy in government institutions and public infrastructure.

Modi noted that over 44,000 government buildings are already connected to solar energy, resulting in an annual saving of approximately 700 billion rupees. He insisted that this program must be expanded to cover every government building, school, college, hospital, and street lighting system.

He stated: 'We need to connect every government building, school, college, hospital, and street lighting system to solar energy.' Furthermore, the Prime Minister called for developing indigenous energy storage solutions and increasing battery storage capacities to support India's transition to clean energy. Modi added: 'We need our own storage solution, and we must develop new battery storage capacities.'

The summit took place in New Delhi from November 2 to 5 and aims to bring together politicians, investors, and industry leaders to discuss technologies, investments, and partnerships in the field of clean energy.