India has a bold plan to ditch coal imports. A report by Climate Risk Horizons, says adding 50 GW of renewable energy yearly could end thermal coal imports by 2029. This move would save $66 billion in foreign exchange. Here’s what the report found and why it’s a big deal.
A $66 Billion Savings Plan
The report outlines a clear path. By adding 50 GW of renewables annually, India can stop importing thermal coal in just four years. “India could eliminate thermal coal imports by 2029 with a consistent addition of 50 gigawatts of renewable energy annually,” the report states. This would save $66 billion between 2025 and 2029, potentially reaching $173 billion by 2034.
Why It’s Urgent
India’s energy demand is soaring. Urbanization, industrial growth, and electric tech are driving it up. Per capita electricity use rose from 957 kWh in 2013 to 1,331 kWh in 2022, per the report. Heatwaves are adding pressure. Coal imports are pricey and volatile, risking financial strain for power companies and consumers. Renewables offer a stable, local solution.
Key Highlights
- Annual Addition: 50 GW of renewable energy yearly.
- Savings: $66 billion by 2029, $173 billion by 2034.
- Demand Growth: Per capita use up from 957 kWh in 2013 to 1,331 kWh in 2022.
- Goal: End thermal coal imports by 2029.
Challenges to Tackle
Scaling renewables isn’t easy. Land, funding, and grid upgrades are hurdles. The report warns that energy demand will keep rising. Storage systems, like batteries, are needed to make renewables reliable. Plus, coal still powers much of India, shifting away takes planning. But India’s 220.10 GW of installed renewable capacity as of March 2025, per MNRE, shows progress.
The Bigger Picture
India’s renewable sector is growing fast. The country added 25.2 GW of solar in 2024, per Mercom. It aims for 500 GW of non-fossil fuel capacity by 2030. Ending coal imports aligns with this goal while cutting costs. A 2024 IEA report says global renewable capacity must triple by 2030 to meet climate targets, India’s 50 GW plan fits right in.
Benefits Beyond Savings
Stopping coal imports does more than save money. It cuts emissions, improving air quality. It boosts energy security, reducing reliance on foreign fuel. The report highlights how renewables can power industries and homes sustainably. With 234 GW of renewable projects in the pipeline, per MNRE, India is on track to make this a reality.
India’s 50 GW renewable plan is a game-changer. Saving $66 billion by 2029 while ending coal imports is a win for the economy and the planet. Climate Risk Horizons’ report shows the way, now it’s up to India to keep the momentum going.
