Power Generation and Cumulative Capacity of Wind Power Plants in India (2017 – 2021)
-
Net electricity generated by Wind power plants in India reached 72,832.2 GWh in 2021, growing 21.1% YoY
-
During the same year, the cumulative capacity of Wind power plants in India reached 42,149.4 MW, growing 7.4% YoY
-
Power generation recorded a historical growth at a CAGR of 8.4% between 2017 and 2021, while the cumulative capacity growth at 5.5% between 2017 and 2021
Power Generation and Cumulative Capacity of Wind Power Plants in India (2017 – 2021)
With the increasing demand for energy, rising levels of pollution, fear of global warming, scarcity of fossil fuels, and increasing levels of greenhouse gas (GHG) emissions, many countries opted for sources of clean renewable energy. Several countries signed protocols with pre-defined emission reduction targets. The Paris Agreement is the most recent initiative in this direction, whereby each country voluntarily determined and presented its emission reduction target and pledged to achieve GHG reduction according to this target. Several countries that are party to the Paris Agreement devised plans to reduce conventional power and aid the growth of renewable power to reduce emissions. The main renewable energy sources are Hydro, Geothermal, Wind, Solar, and Biopower.
Wind energy is the energy generated using wind turbines to convert kinetic energy of the wind to mechanical energy, which is then converted into electricity. Wind energy is considered to have a high positive effect on the environment in comparison to Hydro, Solar PV, Geothermal. Wind energy has the lowest water consumption, relatively lowest GHG emissions, and is considered one of the most sustainable sources of energy.
The global installed wind power capacity increased from 197.8 gigawatts (GW) in 2010 to 743.1 GW in 2020, at a compound annual growth rate (CAGR) of 14.2%. The global installed wind power capacity is expected to reach 1,839.5 GW by 2030. In 2021, the top five regions in the wind power market are China, the US, Germany, India, and the UK.
India is the fourth largest wind power market, with cumulative wind installed capacity of 42 GW as of 2021, growing at a CAGR of 5.5% between 2017 and 2021. The generation of electricity from wind turbines increased proportionally as capacity increased. The total wind generation in India increased to 73 TWh in 2021, growing at a CAGR of 8.4% between 2017 and 2021.
The government has been promoting wind power projects by providing various fiscal and promotional incentives. The most important of the current support schemes includes Accelerated Depreciations (AD), excise duty exemptions to manufacturers, concessional import duties on certain components of wind electricity generators, and a tax holiday on income generated from wind power projects. These benefits will encourage participation by the private sector in renewable power projects. Additionally, government agencies, such as the Indian Renewable Energy Development Agency (IREDA), provide low–interest loans for the development of eligible renewable energy projects in the country.
Related Data & Insights
Still looking?
Don’t wait - discover a universe of connected data & insights with your next search. Browse over 28M data points across 22 industries.
Explorer
Access more premium companies when you subscribe to Explorer