First Rajasthan, Now Gujarat Also Paving the Way for India's Green?Energy?Shift

Rajasthan stands at the forefront of India's transition towards green energy, boasting an impressive 26,800 MW of installed renewable energy capacity. Remarkably, 64.5% of Rajasthan's power generation comes from renewable sources, significantly higher than the 47% renewable energy mix in Gujarat's energy basket. In the first ten months of the 2023-24 fiscal year, Rajasthan produced a staggering 39,300 million units of green energy, a threefold increase compared to the same period in 2019-20.

While Rajasthan leads the way, Gujarat is hot on its heels, positioning itself to potentially overtake Rajasthan as the top renewable energy producer in the coming years. As the second-largest producer of renewable energy in the country, Gujarat generated 36,184 million units of green power in the first ten months of the current financial year, doubling its output from the same period in 2019-20.

Experts suggest that India is on track to achieve its renewable energy targets ahead of schedule, and the government is expected to revise these targets after the upcoming general elections. The renewable energy sector has become increasingly lucrative compared to its standing 15 years ago. Going forward, alongside Rajasthan and Gujarat, states like Maharashtra and Karnataka are anticipated to attract more renewable energy projects.

Although southern states like Karnataka and Tamil Nadu previously dominated the renewable energy sector and were top producers in 2019-20, their growth rates have lagged behind Rajasthan and Gujarat in recent years. While renewable energy accounts for 67% and 55% of Karnataka's and Tamil Nadu's total energy baskets, respectively, their renewable energy sectors grew by 83% and 88% between 2019 and 2023, respectively.