India’s Renewable Energy Market Attracts Investment as Global Power Demand Rises

India has surpassed 230 GW of installed renewable capacity in 2025 and aims for 500 GW of non‑fossil electricity by 2030, driving strong demand for solar panels, inverters, batteries, EV chargers and related equipment. Government initiatives such as the Production Linked Incentive scheme and rooftop solar programmes are boosting domestic manufacturing and reducing reliance on imports.

The International Energy Agency forecasts global electricity consumption to increase from 28,600 TWh in 2025 to 30,700 TWh by 2027, with renewables overtaking coal as the largest source of generation in 2026. Global demand growth of about 3.6‑3.8 % per year is fueled by industrial expansion, electrification of transport and heating, data‑centre growth and rising cooling needs. India is projected to record a 7 % rise in electricity use in 2026, reaching a record peak demand of 270.8 GW in May, of which roughly 22 % of daytime peak is supplied by solar photovoltaic generation.