The renewable energy sector continues to surge forward, with ambitious targets and innovative technologies shaping the future of power generation. Here’s a glimpse at some recent news and trends:
Global Growth and Expansion:
- Record Installations:The International Energy Agency (IEA) reports that global renewable energy capacity installations grew by an estimated 25% to around 700 GW in 2024, setting an expansion record for the 22nd year running.
- India’s Ambition:India is aiming for 500 GW of non-fossil fuel capacity by 2030, focusing on scaling up solar power, wind energy, and green hydrogen production.
- Renewable Energy Buyer’s Alliance:Major energy purchasers have launched the Renewable Energy Buyer’s Alliance, aiming to catalyze 60 gigawatts of new renewable purchases by 2025.
Solar Power:
- Perovskite Solar Cells:Scientists have made breakthroughs in perovskite solar technology, suggesting that alumina nanoparticles can significantly enhance the lifespan and stability of these high-efficiency cells.
- Solar Glass Manufacturing:Borosil Renewables plans to invest Rs 900 crore to boost its solar glass manufacturing capacity to 10 GW by 2026.
- India’s Solar Capacity:India’s solar power installed capacity was 102.57 GWAC as of February 28, 2025.
Wind Energy:
- GE Vernova and RWE:GE Vernova will supply more than 100 turbines to two Texas wind farms, powering a pair of wind farms in Texas.
- Indian Wind Turbine Manufacturing:Adani Enterprises’ arm has incorporated a new subsidiary focused on solar and wind energy manufacturing.
Other Notable Developments:
- Energy Storage:The U.S. energy storage market set a new record in 2024 with 12.3 GW of installations across all segments.
- Hydrogen Production:A new study has revealed key factors limiting the efficiency of photoelectrochemical water splitting using a titanium dioxide photoanode for clean hydrogen production.
- Green Hydrogen:India is focusing on green hydrogen production to meet its renewable energy targets.
- Tax Credits:Tax credits are enabling hundreds of millions of dollars in new clean energy investments, supporting distributed generation.
- Investment in Renewable Energy:Actis has acquired a 100% stake in Stride Climate Investments, a solar generation asset.
- Renewable Energy Companies:Adani Green Energy, Tata Power, ReNew, Suzlon Energy, Sterling and Wilson, Azure Power, JSW Energy, and Inox Wind are some of the top renewable energy companies in India.