After peaking in FY-2017, the renewable energy subsidies have fallen in India by 59 per cent as deployment slowed for various reasons and more support -- including subsidies -- will be needed to scale up renewable to achieve the 2030 targets of clean energy, a new study released on Tuesday said.

"Renewable energy subsidies in India have fallen by 59 per cent to Rs 6,767 crore after peaking at Rs 16,312 crore in FY-2017 as deployment slowed during Covid-19 pandemic-induced lockdowns and grid-scale solar PV and wind achieved cost parity. To achieve the 2030 clean energy targets, more support -- which may include subsidies -- will be needed to scale up solar manufacturing, green hydrogen, and promising de-centralised renewable energy technologies," the study said.