The Indian renewable energy sector has grown at a compounded annual growth rate of 15.51% in the last five years, where wind growth is about 8%. The Indian government has been adopting changes to create a safe, cheap, and sustainable energy system to fuel vigorous economic growth. The government has made significant efforts in ensuring universal access to energy, giving power to its residents. It is implementing a large-scale deployment of renewable energy, particularly solar and wind. This paper examines the country's wind sector in-depth, including the government policy, financial incentives, and accomplishments. The study goes on to discuss the prospects and problems of the wind sector, as well as solutions to overcome them to reach the estimated target of 140-150 GW by 2030. Wind power growth in the country has weakened in the last few years which may hamper the country's ambitious renewable energy targets. Wind industry is facing several hindrances ranging from discontinuation of incentives, land acquisition, DISCOM's poor health, change in bidding scheme, old wind sites, etc. Certain steps, such as repowering outdated wind farms, giving generation-based incentives, tax concessions, reassessing the country's wind potential, and constructing competitive renewable energy zones could aid in reviving the wind energy sector.
Keywords: Financial incentives; India; Renewable energy; Wind energy; Wind policies.
© The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature 2021.