The India renewable energy market attained a volume of 21.07 Gigawatt in 2025 and is projected to expand at a CAGR of 8.60% through 2035. Government schemes such as the Production Linked Incentive (PLI) scheme and other initiatives to build solar parks and hybrid energy projects are major driving factors, bolstering private investment and enhancing India's renewable energy capacity. Such factors are thus propelling the market to achieve a volume of 48.08 Gigawatt by 2035.
The industry is expected to grow substantially in 2025 based on its present electricity generation capacity of 452.69 GIGAWATT, with a large portion coming from renewable energy. The country's pledge to the "Panchamrit" commitment at COP26 reflects its commitment to reach 500 GIGAWATT of non-fossil electricity capacity and lower emissions by 1 billion tonnes by 2030. This development is propelling the India renewable energy market expansion, with advancements in green hydrogen projects, various strong public-private partnerships, and the usage of battery energy storage systems. Key players are optimistic towards a greener future in India and are focusing on the need for quality implementation and enabling policies to maintain this momentum.
The government's aggressive drive for green hydrogen as a clean alternative fuel has further reshaped the India renewable energy market trends. The nation plans to become a centre of green hydrogen production globally by 2030, with goals set to produce 5 million tonnes a year. The initiative facilitates decarbonizing sectors such as steel and fertilizer production. For instance, Reliance Industries has planned a USD 10 billion investment in the establishment of a large-scale green hydrogen complex. Green hydrogen demand opens up opportunities for implementing renewable electricity, driving market ahead of conventional solar and wind markets in India.
Base Year
Historical Period
Forecast Period
According to a Ministry of New and Renewable Energy report, India's renewable energy industry is growing at a fast pace, with emphasis on solar and wind energy. India plans to have an overall renewable energy capacity of 500 GIGAWATT by 2030, most of which will be solar power.
Solar power dominated the capacity expansion, with 23.83 GIGAWATT being added in the year, a significant increase from 15.03 GIGAWATT added in FY 2023–24. This helped the national solar capacity of the country soar to 105.65 GIGAWATT. The composition of this includes 81.01 GIGAWATT of ground-mounted, 17.02 GIGAWATT of rooftop solar systems, 2.87 GIGAWATT of solar components of hybrid projects, and 4.74 GIGAWATT of off-grid solar uses, thereby bolstering the growth of the India Renewable Energy market.
Other renewable energy sources, such as bioenergy and small hydro power, continued to contribute to India's shift towards a cleaner energy system. Bioenergy plants amounted to 11.58 GIGAWATT in total, including 0.53 GIGAWATT from off-grid and waste-to-energy ventures. Small hydro power projects, on the other hand, recorded a total capacity of 5.10 GIGAWATT, with a further 0.44 GIGAWATT under implementation.
Compound Annual Growth Rate
8.6%
Value in Gigawatt
2026-2035
*this image is indicative*
|
India Renewable Energy Market Report Summary |
Description |
Value |
|
Base Year |
Gigawatt |
2025 |
|
Historical Period |
Gigawatt |
2019-2025 |
|
Forecast Period |
Gigawatt |
2026-2035 |
|
Market Size 2025 |
Gigawatt |
21.07 |
|
Market Size 2035 |
Gigawatt |
48.08 |
|
CAGR 2019-2025 |
Percentage |
XX% |
|
CAGR 2026-2035 |
Percentage |
8.60% |
|
CAGR 2026-2035 - Market by Region |
West India |
10.2% |
|
CAGR 2026-2035 - Market by Region |
South India |
9.2% |
|
CAGR 2026-2035 - Market by Source |
Bioenergy |
10.3% |
|
CAGR 2026-2035 - Market by End Users |
Residential |
9.8% |
|
2025 Market Share by Region |
West India |
32.5% |
India is observing a growth in hybrid renewable energy projects integrating solar and wind energy, supporting grid efficiency and stability. Projects such as ReNew Power's hybrid energy park in Gujarat are revolutionising the India renewable energy market trends and dynamics. This trend is supported by pro-hybrid policies of hybrid auctions and storage integration. Additionally, the MNRE’s recent push for round-the-clock (RTC) renewable tenders and viability gap funding for battery storage is accelerating adoption. Industry players are also partnering with transmission operators to optimise energy dispatch from hybrid clusters.
Private investments are fuelling market growth, with companies such as Adani Green and Tata Power investing billions of dollars in solar and wind farms. Green bonds and foreign direct investment have risen sharply, reflecting the interest of investors in India's policy support, and clean energy initiatives. In May 2024, Adani Green Energy Ltd (AGEL) secured USD 400 million in financing from a consortium of five international banks to support its under-construction 750 MW solar projects in Rajasthan and Gujarat. This funding bolsters the India renewable energy market growth and aligns with AGEL's goal to expand its renewable energy capacity to 45 GW by 2030.
The country is increasingly focusing on the domestic manufacturing of solar panels, inverters, and batteries under initiatives such as PLI (Production Linked Incentive). In 2024, Tata Power Solar commissioned a 1 GW solar module manufacturing plant in Telangana, aiming to strengthen India’s clean energy infrastructure and reduce reliance on imports, supported by the PLI scheme. Additionally, companies like Vikram Solar and Adani Solar are expanding capacities, supported by favourable policies, duty protections, and rising project pipelines that ensure long-term growth in indigenous production.
As per the India renewable energy market report, the nation is focusing on securing critical minerals like lithium and cobalt, vital for solar and battery technologies, to boost energy storage systems. Strategic partnerships with resource-rich countries such as Australia enhance supply chain security. KABIL (Khanij Bidesh India Ltd.) leads overseas exploration and acquisition of these minerals to reduce import dependence. These efforts aim to strengthen domestic manufacturing of batteries and solar components, supporting India’s clean energy goals, lowering production costs, and enabling large-scale renewable energy adoption nationwide.
The India renewable energy industry is advancing through solar park development, with 50 parks approved across 12 states, each over 500 MW. The SATAT initiative promotes compressed biogas (CBG) for green transportation. The 100 Smart Cities programme mandates rooftop solar and 10% renewable energy use. These efforts collectively drive clean energy adoption, job creation, and inclusive growth, reinforcing the country's shift toward a sustainable energy future.
The EMR’s report titled “India Renewable Energy Market Report and Forecast 2026-2035” offers a detailed analysis of the market based on the following segments:
Market Breakup by Source
Key Insight: Solar energy is the dominant source in the Indian market, driven by declining solar panel costs, vast solar irradiance, and robust government schemes like PM-KUSUM and Solar Park initiatives. States like Rajasthan and Gujarat have accelerated solar installations aggressively owing to land availability and policy backing. In addition, accelerated installation schedules and high private sector investment have rendered solar scalable over wind and hydro sources, thus boosting the scope for India renewable energy market opportunities.
Market Breakup by End User
Key Insight: Utility-scale is the leading end-user category, accounting for the largest share of renewable energy installations in India. This end-user's dominant edge lies in strong central and state-level procurement through solar and wind auctions, long-term PPAs with DISCOMs, and reduced per-unit generation costs as a result of economies of scale. Large projects in states such as Gujarat and Andhra Pradesh illustrate how utility players lead India's renewable transformation through grid-connected, large-capacity developments.
Market Breakup by Region
Key Insight: The southern region accounts for the dominant renewable energy market share in India, with Karnataka, Tamil Nadu, and Andhra Pradesh at the forefront. These states benefit from a combination of favourable climatic conditions for both solar and wind energy, proactive state policies, and robust grid infrastructure. State-level support, fast-tracked clearances, and private sector collaboration have pushed capacity additions in the region. For example, in December 2024, Tamil Nadu added over 2 GW of solar and wind capacity, supported by the state’s streamlined approval process and incentives for private developers like ReNew Power and Greenko. Karnataka's recent 1.5 GW hybrid renewable project by Adani Green further exemplifies South India’s leadership, leveraging favourable climate and grid connectivity to boost clean energy deployment and attract investments.
| CAGR 2026-2035 - Market by |
Region |
|
West India |
10.2% |
| South India |
9.2% |
|
East India |
XX% |
| North India |
XX% |
Solar leads due to cost decline, vast land, and strong government support
Solar power dominates the industry owing to high sun exposure, falling photovoltaic prices, and strong government support through initiatives like PM-KUSUM and solar parks. Regions such as Rajasthan and Gujarat have taken advantage of extensive land parcels and well-developed infrastructure, supporting quick scaling of grid-connected solar projects. Its lower installation duration and high return on investment have made solar the central point of the country’s clean energy revolution, bolstering the growth of India renewable energy market.
Bioenergy is the fastest-developing source category, driven by increasing agricultural waste management requirements and policies such as the National Bio-Energy Mission. This category is projected to grow at a CAGR of 10.3% over the forecast period. Adoption is expanding in rural and semi-urban regions, where biomass and biogas units provide energy needs in a sustainable manner. Growing investments, waste-to-energy solutions, and government incentives for compressed biogas (CBG) initiatives are fuelling demand, particularly for industrial and decentralized uses.
Utility dominates through bulk PPAs, centralized auctions, and large-scale project investments
With bulk procurement under centralized auctions, long-term PPAs, and cost advantages through large-scale installations, utility-scale projects drive heavy demand in the India renewable energy market. Large-scale solar and wind farms in states such as Gujarat, Tamil Nadu, and Andhra Pradesh feed power directly into the grid. In March 2024, the Gujarat Solar Park commissioned a 750 MW utility-scale solar project through a centralized auction, backed by long-term PPAs with SECI. Similarly, Andhra Pradesh's 500 MW wind farm, developed by Sembcorp Energy, benefits from bulk procurement and grid integration, exemplifying the government’s push for large-scale renewable capacity via public-private partnerships.
The residential sector is expanding at the highest rate, stimulating the India renewable energy market revenue, driven by rooftop solar programmes, net metering laws, and consumer awareness of cost benefits. Government schemes such as Grid Connected Rooftop Solar Programme Phase II have encouraged domestic installations. Urban domestic consumers are increasingly opting for rooftop solar systems to lower their electricity bills and attain energy independence, particularly in states with subsidies and favourable financing schemes.
North India leads with abundant deposits and strong industrial demand.
The dominance of North India in the industry is powered by its rich deposits, strong mining infrastructure, and location near industrial centres. The region provides bulk renewable energy to sectors such as oilfield drilling, chemicals, and energy storage, critical in nature. In January 2025, Rajasthan launched a 600 MW solar project supplying power to nearby chemical and oil industries, reinforcing North India’s role as a critical renewable energy hub for industrial demand. Such a point of demand and supply concentration develops a strong ecosystem that favours regular production, rendering North India the key sourcing location for renewable energy in India's industrial scene.
The East India renewable energy market witnesses accelerated growth pace on account of new mining investments, enhanced logistics, and growing industrial demand. The region is increasingly serving renewable energy, specialty chemical, and pharmaceutical industries demanding high-quality renewable energy. In March 2025, Odisha commissioned a 400 MW wind-solar hybrid park dedicated to supplying renewable power to emerging pharmaceutical and specialty chemical industries, accelerating the regional market growth. Better infrastructure and regulatory assistance further fuel growth, enticing new industrial participants and broadening the regional market base past traditional industries, opening new B2B opportunities.
Key India renewable energy market players are mainly focused on the seamless setup of renewable energy projects in key areas, which will reduce costs as well as emissions and will be in alignment with the various government policies. Firms are adopting advanced storage systems for storing large capacities of energy and investing and promoting green hydrogen for a better future in the country. India renewable energy companies, such as Adani Green, ReNew Power, Tata Power, and NTPC, are innovating through large-scale solar and hybrid energy projects, green hydrogen initiatives, and battery energy storage systems. They are also integrating digital technologies like AI and IoT for smart grid management and predictive maintenance. Several firms are partnering with global tech providers to enhance efficiency and reduce costs, while also investing in offshore wind and decentralized energy solutions to diversify India's clean energy portfolio.
Adani Green Energy Limited, founded in 2015 and based in India, is dedicated to utility-scale solar and wind energy initiatives. It has one of the largest renewable portfolios in the world with over 8-GIGAWATT capacity and plans to expand to 45 GIGAWATTS by 2030 with rapid growth and green hydrogen projects.
Tata Power Company Limited, established in 1919 and headquartered in India, offers solar rooftop solutions, solar pumps, and large-scale renewable power generation. With more than 5 GIGAWATTS of renewable capacity, the company is expanding into energy storage, EV infrastructure, and community-based solar projects to enable India's clean energy ambitions.
Azure Power Global Limited, founded in 2008 and headquartered in India, is a utility-scale solar power solution company. The company has developed and built more than 2 GIGAWATT of solar assets in Indian states. Azure Power is committed to sustainable power generation and long-term PPAs with government and commercial customers.
NTPC Limited, incorporated in 1975 and headquartered in India, is diversifying away from coal to renewable power with increasing solar and wind capacity. It is aimed at achieving more than 60 GIGAWATTS of renewable capacity by 2032. NTPC is also testing green hydrogen and energy storage solutions to meet India's net-zero ambitions.
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other key players in the India renewable energy market report are ReNew Power India, Suzlon Energy Limited, JinkoSolar Holding Co. Ltd., First Solar Inc, Vestas Wind Systems A/S, Trina Solar Limited., among others.
Unlock strategic intelligence on the India renewable energy market with our 2026-2035 forecast report. Understand key trends, regional demand shifts, and competitive strategies. Download a free sample or consult our analysts to identify high-growth segments and clean energy opportunities across India.
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2025, the India renewable energy market reached an approximate volume of 21.07 Gigawatt.
The market is projected to grow at a CAGR of 8.60% between 2026 and 2035.
The market is estimated to witness healthy growth in the forecast period of 2026-2035 to reach a volume of around 48.08 Gigawatt by 2035.
Indian renewable energy companies are focusing on tech diversification, domestic manufacturing, energy storage integration, and green financing. Strategic partnerships, vertical integration, and R&D in efficiency-enhancing innovations are key to scaling operations and ensuring long-term competitiveness.
Some of the key trends in the market are surge in hybrid projects, focus on domestics manufacturing, and strategic mineral sourcing.
The major regions in the market are North India, South India, East India and West India.
The various sources considered in the market report are wind, solar, hydro, bioenergy and others.
The various end users mentioned in the report are residential, commercial, industrial, utility and others.
The key players in the market include Adani Green Energy Limited, Tata Power Company Limited, Azure Power Global Limited, NTPC Limited, ReNew Power India, Suzlon Energy Limited, JinkoSolar Holding Co. Ltd., First Solar Inc, Vestas Wind Systems A/S, Trina Solar Limited, among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Source |
|
| Breakup by End User |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
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