November 5, 2026: India's rapid expansion of renewable energy has helped save more than USD 100 billion in coal and natural gas import costs over the past 15 years, strengthening energy security while positioning the country as an increasingly important player in global clean energy markets, according to a new report by the International Energy Agency (IEA). 

India's renewable power capacity has almost quadrupled over the past decade, crossing 300 gigawatts (GW) in 2026, making it the world's second-fastest-growing renewables market and the second-largest manufacturer of solar photovoltaic (PV) modules, the India Renewable Energy Market Report 2026 said.

Launched at the Bharat Renewable Energy Summit, the report said India achieved its target of 50 per cent non-fossil fuel-based installed power capacity in 2025, five years ahead of schedule.

The expansion is also delivering measurable economic and energy security benefits. Renewable electricity generation helped India avoid more than USD 100 billion in coal and natural gas import costs between 2011 and 2025. Cumulative savings are expected to more than double by 2030.

(Source: PSU watch)