Archive · 23 Jul 2025
India Saves Big with Renewables: ₹4 Lakh Crore in 2024
Imagine India using a lot of clean energy like solar and wind instead of older fuels.
Because of this, India saved a lot of money – about 4 lakh crore rupees!
A report says India's clean energy is really cheap, almost the second cheapest in the world.
This switch to clean energy helped India avoid spending billions on things like expensive fuels and also helped clean up the air by reducing pollution.
Globally, the cost of solar power has dropped a lot over the past years making it more affordable and efficient.
This makes solar a smart choice to save money and help the environment!
India saved approximately ₹4 lakh crore in 2024 due to renewable energy.
IRENA's report indicates India's RE LCOE is the second cheapest globally.
India avoided $14.9 billion in fossil fuel costs and 410.9 mt of CO₂ emissions.
Air pollution-related benefits amounted to $31.7 billion in savings.
Global LCOE for utility-scale solar PV declined significantly from 2010 to 2024.
- Who
- The International Renewable Energy Agency (IRENA)
- What
- India saved ₹4 lakh crore due to renewable energy usage, avoiding fossil fuel and pollution costs.
- When
- In 2024
- Where
- India
- Why
- Due to the rising installed capacity of renewables
- Total Savings
- ₹4 lakh crore (approx. $46 billion)
- Fossil Fuel Savings
- $14.9 billion
- CO₂ Emissions Avoided
- 410.9 million tonnes
- Air Pollution Benefits
- $31.7 billion
- Global LCOE Decline (2010-2024)
- 90%
- India's Solar PV LCOE
- $0.038 per kWh
- Global Weighted Average Installed Cost (2024)
- $691 per kW