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India has missed its power sector investment targets most years since 1951, with the consequence that its peak demand deficit is nearly 10 per cent (compared with the 10 per cent-20 per cent surplus typically maintained by mature energy economies). This in an economy where 40 per cent of the population is not connected to the grid, according to Ernst & Young.
Its been estimated that $400 billion of investment may be required in the Indian power sector in the next five years to provide improved grid infrastructure and an additional 76GW of capacity by 2017, according to India's new Five-Year Plan, it says.
Overlaid on this is a desire to have 15 per cent of its electricity (excluding large-scale hydro) from renewable sources by 2020, compared with a previous target of 6.4 per cent. This equates to an additional 30GW of renewables capacity in the next five years, compared with 23GW to date.
So, let's take a look at where India stands in renewable energy.
Source: Ernst & Young
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China
All renewables: 70.2
Wind index: 77
Onshore wind: 78
Offshore wind: 70
Solar index: 64
Infrastructure: 75
Global rank: 1
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The United States
All renewables: 66.0
Wind index: 64
Onshore wind: 66
Offshore wind: 55
Solar index: 71
Infrastructure: 60
Global rank: 2
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Germany
All renewables: 66.0
Wind index: 69
Onshore wind: 66
Offshore wind: 80
Solar index: 61
Infrastructure: 73
Global rank: 3
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India
All renewables: 64.1
Wind index: 64
Onshore wind: 70
Offshore wind: 41
Solar index: 66
Infrastructure: 65
Global rank: 4
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The United Kingdom
All renewables: 55.3
Wind index: 64
Onshore wind: 60
Offshore wind: 79
Solar index: 41
Infrastructure: 65
Global rank: 5
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France
All renewables: 55.2
Wind index: 57
Onshore wind: 58
Offshore wind: 53
Solar index: 52
Infrastructure: 55
Global rank: 6
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Italy
All renewables: 55.2
Wind index: 56
Onshore wind: 58
Offshore wind: 47
Solar index: 56
Infrastructure: 50
Global rank: 7
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Canada
All renewables: 53.4
Wind index: 63
Onshore wind: 66
Offshore wind: 46
Solar index: 40
Infrastructure: 66
Global rank: 8
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Japan
All renewables: 50.8
Wind index: 49
Onshore wind: 50
Offshore wind: 41
Solar index: 58
Infrastructure: 54
Global rank: 9
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Brazil
All renewables: 50.2
Wind index: 52
Onshore wind: 55
Offshore wind: 40
Solar index: 47
Infrastructure: 51
Global rank: 10
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Australia
All renewables: 50.1
Wind index: 49
Onshore wind: 52
Offshore wind: 38
Solar index: 53
Infrastructure: 48
Global rank: 11
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Sweden
All renewables: 49.0
Wind index: 55
Onshore wind: 55
Offshore wind: 53
Solar index: 37
Infrastructure: 55
Global rank: 12
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Romania
All renewables: 47.7
Wind index: 53
Onshore wind: 56
Offshore wind: 39
Solar index: 40
Infrastructure: 46
Global rank: 13
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Spain
All renewables: 47.6
Wind index: 46
Onshore wind: 49
Offshore wind: 35
Solar index: 53
Infrastructure: 36
Global rank: 14
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Poland
All renewables: 47.4
Wind index: 54
Onshore wind: 57
Offshore wind: 44
Solar index: 38
Infrastructure: 48
Global rank: 15
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South Korea
All renewables: 46.6
Wind index: 47
Onshore wind: 46
Offshore wind: 53
Solar index: 48
Infrastructure: 45
Global rank: 16
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South Africa
All renewables: 45.9
Wind index: 50
Onshore wind: 53
Offshore wind: 37
Solar index: 43
Infrastructure: 51
Global rank: 17
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Greece
All renewables: 44.7
Wind index: 45
Onshore wind: 48
Offshore wind: 33
Solar index: 48
Infrastructure: 32
Global rank: 18
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Belgium
All renewables: 44.6
Wind index: 51
Onshore wind: 49
Offshore wind: 58
Solar index: 37
Infrastructure: 51
Global rank: 19
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Portugal
All renewables: 44.3
Wind index: 46
Onshore wind: 48
Offshore wind: 35
Solar index: 46
Infrastructure: 38
Global rank: 20
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Mexico
All renewables: 43.9
Wind index: 45
Onshore wind: 46
Offshore wind: 40
Solar index: 43
Infrastructure: 41
Global rank: 21
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Denmark
All renewables: 43.0
Wind index: 47
Onshore wind: 45
Offshore wind: 58
Solar index: 35
Infrastructure: 53
Global rank: 22
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The Netherlands
All renewables: 42.7
Wind index: 48
Onshore wind: 49
Offshore wind: 47
Solar index: 36
Infrastructure: 41
Global rank: 23
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Ireland
All renewables: 42.2
Wind index: 52
Onshore wind: 52
Offshore wind: 51
Solar index: 26
Infrastructure: 48
Global rank: 24
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Morocco
All renewables: 41.8
Wind index: 40
Onshore wind: 43
Offshore wind: 26
Solar index: 48
Infrastructure: 42
Global rank: 25
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Turkey
All renewables: 41.1
Wind index: 43
Onshore wind: 45
Offshore wind: 33
Solar index: 40
Infrastructure: 38
Global rank: 26
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Taiwan
All renewables: 40.5
Wind index: 43
Onshore wind: 44
Offshore wind: 38
Solar index: 38
Infrastructure: 43
Global rank: 27
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Norway
All renewables: 40.1
Wind index: 48
Onshore wind: 48
Offshore wind: 45
Solar index: 26
Infrastructure: 51
Global rank: 28
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Ukraine
All renewables: 39.8
Wind index: 39
Onshore wind: 41
Offshore wind: 27
Solar index: 40
Infrastructure: 41
Global rank: 29