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India Increases Its Massive 2022 Renewable Energy Target By 28%

India Increases Its Massive 2022 Renewable Energy Target By 28%

For a few years, renewable energy prices in India were rather high due to high finance costs.

Of course, global prices for renewable energy have continued to drop as well, allowing this goal to be increased.

This increased goal is perfect timing as it is expected that renewable energy growth in China may contract this year due to lower subsidies.

Unfortunately, India continues to add thermal (fossil fuel) power each year, but the good news is its utilization is decreasing.

With the old renewable energy target, thermal power plant utilization was expected to be 57%; with the new target, it stands to reason that will drop even further.

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