As part of the Centre for Social Markets’ Climate Challenge India Initiative, this paper looks at the state of renewable energy in India. The challenges faced by India, projected by the International Energy Agency to be the world’s 3rd largest emitter of greenhouse gases by 2015, are fairly daunting. Although this means there are many opportunities as well. The Centre for Social Markets (CSM) is an independent, non-profit organisation dedicated to making markets work for the triple bottom line – people, planet and profits.