Economic Survey: Non-fossil fuel energy capacity expected to triple by FY30

To achieve target for installed capacity, it will have to grow at CAGR of 16.25%

The Economic Survey 2022-23, which was tabled in Parliament on Tuesday, projected that India’s average emission rate would decline by 29 per cent by financial year 2029-30 (FY30), compared with FY15 levels. The CO2 emissions rate in FY15 was 0.73 kg per kWh (kilowatt-hour), which declined to 0.71 kg per kWh in FY18, and is expected to reduce further to 0.51 kg per kWh by FY30.

This reduction has been driven by India’s changing energy mix. The Survey says India’s optimal electricity generation capacity is expected to exceed 800 Gw by FY30. About two-thirds of this, or 500 Gw, would come