India’s renewable power growth saves billions in fuel imports

India’s renewable power capacity has crossed 300 gigawatts, almost quadrupling in a decade, according to the International Energy Agency (IEA). The expansion is also reducing dependence on imported fuel: the agency estimates that renewable electricity helped avoid more than US$100 billion in coal and natural gas import costs between 2011 and 2025.

In its India Renewable Energy Market Report 2026, the IEA projects that renewable capacity will reach about 530 gigawatts by 2030, with solar panels providing more than 80% of the increase. That growth would put India on track to meet its target of 500 gigawatts of non-fossil power capacity by the end of the decade.

The gains extend beyond installed equipment. Electricity generated from renewables is forecast to nearly double between 2025 and 2030, lifting their share of India’s total electricity generation from roughly a quarter to 35%.

The agency credits competitive auctions, supportive policies, falling technology costs and growing demand from businesses. Rooftop solar is also helping growth spread beyond large power projects.

Sustaining this pace will require faster expansion of power transmission networks and energy storage. Project delays and the financial health of electricity distribution companies remain obstacles. The IEA estimates that addressing these constraints could accelerate renewable capacity deployment by more than 20% during 2026–2030.