HomeNewsBusinessBudgetEconomic Survey 2022-23: Renewable energy led rise in electricity generation between FY21 and FY22

Economic Survey 2022-23: Renewable energy led rise in electricity generation between FY21 and FY22

For the first time, the government also gave an update on its solar parks scheme stating that as on September 30, 2022, the government has sanctioned the entire target capacity of 40 GW for the development of 59 Solar Parks in 16 states,

January 31, 2023 / 16:16 IST
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 (Representative image)
(Representative image)

Between FY22 and FY21, the maximum rise in electricity generation was recorded in renewable energy resources for utilities and for captive plants, stated the economic survey 2022-23 tabled in the Parliament on January 31.

The report also highlighted that the total installed electricity generating capacity of utilities and captive power plants increased by 4.7 per cent to 482.2 gigawatts (GW) on March 31, 2022 from 460.7 GW during the same period in 2021.

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"The installed capacity in utilities was 399.5 GW on March 31, 2022 as against 382.1 GW a year back, which is higher by 4.5 per cent. The total electricity generated, including that from captive plants during the year FY22 was 17.2 lakh GWh as compared to 15.9 lakh GWh during the FY21, of which 14.8 lakh GWh was generated by utilities and 2.3 lakh GWh in captive plants," it stated.

The document showed that thermal sources of energy continue to make up the largest (59.1 per cent) share of the total installed capacity in utilities, followed by renewable energy resources with 27.5 per cent and hydro with 11.7 per cent.