The new study was put forward by the self-governed intergovernmental organization, International Energy Agency (IEA). The study featured detail for the next five-year plan. much of the part will be focused on India, where 90% of the global electricity expansion will consist of renewable energy.
The other three geographies that will be part of the contribution to this project will be China, the European Union, and the United States. All the countries will be the primary owners of this favorable policy and market reforms.
According to the study, it’s estimated that between the years 2022 to 2027, renewable energy’s installed power capacity addition might primarily increase to 2,400 gigawatts (GW). It's assumed that the expansion will be 85 percent faster in consideration of the previous five years. This will make it equal to China’s entire installed power capacity as of today.
According to the plan, renewable energy will have three-quarters of solar PV, 15% onshore and the remaining part will be made of hydropower.
Solar Modules and Domestic Manufacturing
The reports further added that only consistent policy support enabled by the Indian government can make this transition take place. The promotion of solar modules by local manufacturers in particular is being considered.
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Technology is a useful servant, but a dangerous master, it was rightly said. Electronic devices have grown into an inevitable part of our daily lives.
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