Renewable energy is obtained from provenance which is essentially inexhaustible. Renewable Energy market in India is mainly segregated into Wind Energy, Solar Energy, Hydro Power (Small Hydro Power), Bio Power, Geothermal and Ocean Energy. The key factor of these energies is that it can be harnessed without the release of harmful pollutants. With a population of 1.3 billion, India has a massive demand for energy to fuel its rapidly growing economy. From a power deficit nation at the time of Independence, the efforts to make India energy-independent have continued for over seven decades. India’s renewables sector is booming, with the country projected to add 35 to 40 Giga-watts of renewable energy annually until 2030, enough to power up to 30 Million more homes each year. Globally, India ranks fourth in renewable energy capacity and wind power and fifth in solar power capacity. In October 2021, India retained its third rank on the EY Renewable Energy Country Attractive Index 2021. According to the report “India Renewable Energy Market Research Report, 2027-28”, renewable energy market in India is anticipated to grow with a CAGR of more than 13% in commulative volume capacity in forecast periods. According to the Actual Market Research, Solar energy is leading the market with more than 40% market share in renewable energy. By region, south region having the highest market share compare to north region having the lowest market share in cummulative capacity in domestic market .In state wise cummulative capacity Tamilnadu is leading the market with more than 16% market share. As country contend with the growingly devastating impact of climate change, largely caused by anthropocentric expanding activities, the role of renewable energy in the energy and electricity mix becomes paramount. To meet renewable energy ambitious targets and commitment to the entire world in the fight against climate change, Government of India and Ministry of New and Renewable Energy (MNRE) has been rolling out multiple initiatives, programs, renewable energy schemes and incentives to accelerate the development of the renewable energy sector. The focus of these incentives and initiatives is to hasled large-scale penetration in the tier 3 and rural regions. The incentives and subsidies provided by the state governments are playing a vital role in renewable energy growth of small scale power generation such as solar rooftop photovoltaic system. Subsidies provide for the solar pumps are also gaining popularity in many regions which helps integrate renewable sources effectively to the power grid. The Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) Scheme has been launched in 2019 consisting of many components such as setting up of 10 GW of Decentralized Grid Connected Solar or other Renewable Energy Power Plants on barren land, Installation of more than17 Lakh stand-alone solar agriculture pumps, and Solarisation of more than 10 Lakh Grid Connected Agriculture Pumps. All these projects, incentives and schemes will help in the long term to overcome the hindrances that renewable energy sector faces today. In order to facilitate integration of large scale renewable generation capacity addition, the Cabinet Committee of Economic Affairs (CCEA) , approved the creation of Intra-state Transmission System in the states of Andhra Pradesh, Gujarat, Himachal Pradesh, Karnataka, Madhya Pradesh, Maharashtra, Rajasthan and Tamil Nadu, rich in renewable resource potential and where large capacity renewable power projects are planned. India has set a target to reduce the carbon intensity of the nation’s economy by less than 45% by the end of the decade, achieve 50% cumulative electric power installed by 2030, and achieve net-zero carbon emissions by 2070. As India looks to meet its energy demand on its own, which is expected to reach 15,820 TWh by 2040, renewable energy is set to play an important role. The solar segment is likely to have the largest market share during the forecast period, owing to declining costs of solar modules and the versatility of these systems for various applications, like electricity generation and water heating. India is endowed with vast solar energy potential. About 5,000 trillion kWh per year of energy is incident over India's land area, with most parts receiving 4-7 kWh per sq. m per day. There has been a visible impact of solar energy in the Indian energy sector during the last few years. For instance, • In December 2021, MNRE invited applications for the Expression of Interest in conducting the evaluation study of Phase-II of the Grid Connected Rooftop Solar Program. The program is a part of the National Solar Mission, which aims at installing 40 GW capacities of grid-connected solar rooftop installation systems by 2022. • In February 2021, Amara Raja Batteries Ltd (ARBL) announced plans to set up a 50 MW solar power plant in the Chittoor district of Andhra Pradesh, with a total investment of INR 220 crore over the next 18 months. • In August 2021, ArcelorMittal SA announced plans to set up a 4.5 GW solar park in Rajasthan with an investment of INR 19,000 Crore. It also plans to invest in Gujarat’s solar energy. • In January 2022, Azure Power commissioned a 600 MW solar power project in Bikaner, Rajasthan. The power generated from the project will be supplied to Solar Energy Corporation of India Limited (SECI) at a tariff of INR 2.53 per kWh for 25 years. • In February 2022, the Indian government allocated an additional INR 19,500 Crore to support solar PV module manufacturing under the Production Linked Incentive (PLI) scheme. The scheme has various provisions for supporting the setup of integrated manufacturing units of high-efficiency solar PV modules by offering PLI on sales of such solar PV modules. It aims at attaining the ambitious goal of 280 GW of installed solar capacity by 2030. • In December 2020, the Gujarat government implemented “the Surya Urja Rooftop Yojana” scheme to install solar rooftops for 8 lakh residential consumers by March 2022. Under this scheme, 40% of state subsidy will be provided on installing systems up to 3 kW and 20% subsidy for 3 kW-10 kW systems. Hence, increasing investments in the solar energy sector are expected to boost the market’s growth during the forecast period. Further, as part of the Paris Climate Agreement, India has committed to installing 40% of its electricity generation capacity from non-fossil fuels by 2030. For achieving this goal, the country has set an ambitious target of setting up 1,75,000 MW of renewable energy capacity, including 1,00,000 MW of solar power, by 2022. A target of 4,50,000 MW installed RE capacity by 2030 has also been fixed. Additionally, in September 2021, the Indian government announced plans to provide Viability Gap Funding (VGF) or grants for offshore wind and storage projects. The new scheme will help carry out renovation and modernization of substations. The government has set a target of adding 30 GW of offshore wind energy projects by 2030. Therefore, numerous supportive policies by central and state governments are expected to drive the Indian renewable energy market during the forecast period. Recent Developments • In June 2021, GE Renewable Energy awarded a contract to supply and commission wind power turbines for Continuum Green Energy’s 148.5 megawatts (MW) Bhuj wind park in Gujarat. • In June 2021, Suzlon Group secured a wind turbine generators contract from CLP India. Suzlon will install 120 units of wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower, with a rated capacity of 2.1 MW each. The project has an installed capacity of 252 MW in Sidhpur, Gujarat, and will commence in 2022. • In July 2021, Siemens Gamesa secured a significant deal from ReNew Power to supply its industry-leading turbines to a 322 MW wind project in Tondehal, Karnataka. The company delivers new SG3.4-145 wind turbines in Karnataka, covering 93 units for the Tondehal project in the Koppal District. • In October 2021, GE Renewable Energy secured a contract from JSW Energy Ltd, part of the local conglomerate JSW Group. As a part of the contract, JSW has ordered 810 MW of onshore wind turbines for its upcoming projects in Tamil Nadu. The primary objective for deploying renewable energy in India is to advance economic development, improve energy security, improve access to energy, and mitigate climate change. Sustainable development is possible by use of sustainable energy and by ensuring access to affordable, reliable, sustainable, and modern energy for citizens. Strong government support and the increasingly opportune economic situation have pushed India to be one of the top leaders in the world’s most attractive renewable energy markets. The government has designed policies, programs, and a liberal environment to attract foreign investments to ramp up the country in the renewable energy market at a rapid rate. It is anticipated that the renewable energy sector can create a large number of domestic jobs over the following years. Covid-19 Impacts: In 2020, the COVID-19 outbreak led to a decrease in the consumption of bioenergy and other renewable energy sources compared to the previous year. Furthermore, the COVID-19 impact constituted a risk to investments made by individuals and small to medium-sized enterprises in the Indian renewable energy market. Factors such as supportive government policies, rising environmental concerns, incentives, and tax benefits for solar panel installations are expected to drive the market during the forecast period. However, the lack of grid infrastructure in rural areas is likely to hinder the market growth during the forecast period. Considered in this report • Geography: India • Base year: 2021-22 • Estimated year: 2022-23 • Forecast year: 2027-28 Aspects covered in this report • India Renewable Energy market with its volume and forecast along with its segments. • Region-wise India Renewable Energy market analysis • Various drivers and challenges • On-going trends and developments • Strategic recommendation Regions covered in the report • North • South • West • East Types of Renewable Energy in the report • Wind Energy • Solar Energy • Hydro Power (Small Hydro Power) • Bio Power The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to renewable energy industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry. “India Renewable Energy Market Research Report, 2027-28” discusses the following aspects of wind power in India: How it will help solving your strategic decision making process?? The report gives an in-depth understanding of wind market in India: • India Renewable Energy Market Research Report • India Renewable Energy Market Size By Cumulative Capacity & Forecast • India Renewable Energy Market Size By Region By Cumulative Capacity • India Renewable Energy Market Size By State By Cumulative Capacity • India Renewable Energy Market Size By New Installed Capacity & Forecast • India Renewable Energy Market Segmental Analysis: By Region, By State • India Wind Energy Market Size By Cumulative Capacity & Forecast • India Wind Energy Market Size By Installed Capacity & Forecast • India Wind Energy Market Segmental Analysis: By Region, By State • India Solar Energy Market Size By Cumulative Capacity & Forecast • India Solar Energy Market Size By Installed Capacity & Forecast • India Solar Energy Market Segmental Analysis: By Region, By State • India Small Hydro Power Market Size By Cumulative Capacity & Forecast • India Small Hydro Power Market Size By Installed Capacity & Forecast • India Small Hydro Power Market Segmental Analysis: By Region, By State • India Bio Power Market Size By Cumulative Capacity & Forecast • India Bio Power Market Size By Installed Capacity & Forecast • India Bio Power Market Segmental Analysis: By Region, By State • Product Portfolio By Company • The key vendors in this market space This report can be useful to Industry consultants, manufacturers and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry. Report Methodology The information contained in this report is based upon both primary and secondary research. Primary research included interviews with various manufacturers of wind turbines in India. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.