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Mon. Jul 22nd, 2024

India is seeing an increase in jobs in the green energy sector

By Vaseline May27,2024
India is seeing an increase in jobs in the green energy sector

India’s renewable energy sector is witnessing an increase in green jobs, driven by recent government initiatives and the country’s commitment to climate mitigation. With the Ministry of New and Renewable Energy having approved 50 solar parks in 12 states, with a total capacity of about 37,490 MW; the sector is poised for significant growth. According to the International Renewable Energy Agency, India is among the top countries globally in terms of installed renewable energy capacity, ranking fourth in wind energy and fifth in solar energy.

At the COP26 summit in 2021, India pledged to achieve ambitious goals under its ?Pancham drive? pledge, including reaching 500 GW of non-fossil electricity capacity, generating half of all energy from renewables and reducing emissions by 1 billion tons by 2030. The country also aims to reduce emissions intensity GDP by 45% and achieve net-zero emissions by 2070. Currently, around 44% of India’s energy comes from non-fossil sources, a figure expected to rise to 65% by 2030.

The transition to green energy is creating a demand for skilled professionals, with studies showing that India could generate 35 million green jobs by 2047. The renewable energy sector saw a significant increase in the workforce, with the solar and wind energy sectors alone expected to add almost 53,000 workers to the sector. project development roles in 2021-2022. The expansion of solar energy production capacity, aimed at 220 GW solar energy capacity by 2030, will provide additional employment.

Key players in the renewable energy sector, such as AdSolar, Tata Solar Power, Vikram Solar and Emmvee, are driving innovation and job growth. AdSolar’s ambitious solar energy production ecosystem in Mundra, Gujarat aims to create over 13,000 green jobs. Similarly, Tata Solar Power employs about 1,000 people and has shipped more than 3 GW of solar panels worldwide. Vikram Solar and Emmvee are also expanding their manufacturing capacity, contributing to job creation.

The share of renewable energy in India’s installed energy capacity is growing, with solar energy alone accounting for 18.66% and renewable energy totaling 32.69%. Policy reforms and production-related incentives are expected to further boost local production of green products. India’s focus on sustainable living through initiatives such as the LiFE Mission and global leadership in initiatives such as the International Solar Alliance position India as a key player in shaping global green growth.

These trends indicate the potential for India to unlock significant economic value, estimated at $1 trillion by 2030 and $15 trillion by 2070, through green initiatives and renewable energy expansion. (Source: ET)

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