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India added 14.9 GW of new solar capacity in the six months ending June, breaking all previous half-yearly and annual PV installation records.
India installed 14.9 GW of solar in the first half of calendar year 2024, topping all previous half-year and annual totals, according to a report by Mercom India Research.
Mercom said the commissioning of several previously delayed projects contributed to capacity additions in the first half of 2024.
“2024 is shaping up to be a breakout year for India’s solar industry, with an impressive first half,” said Raj Prabhu, CEO of Mercom Capital Group. “However, to ensure that the strong pipeline of projects and ramped-up tender activity translate into timely installations, it is critical that we tackle the component supply and grid connectivity challenges with urgency so we can meet the 280 GW target by 2030.”
As of June 2024, India’s installed solar capacity reached 87.2 GW, with utility-scale projects making up nearly 87% and rooftop solar over 13%. Solar energy now accounts for 19.5% of India’s power capacity and more than 44% of its total renewable energy capacity.
Rajasthan, Gujarat, and Karnataka lead in large-scale solar installations, contributing 29%, 15%, and 14% of the country’s total capacity, respectively.
In the second quarter, 5 GW of solar capacity was commissioned, marking a 49% drop from the 9.9 GW installed in the first quarter of 2024.
During the second quarter of 2024, 4.3 GW of large-scale solar projects were completed, including nearly 1.8 GW of open access solar. Although large-scale solar capacity additions decreased by more than 55% from the first quarter of 2024, they increased over 191% year-over-year compared to the second quarter of 2023.
Analysts said that project delays due to grid connectivity and transmission issues significantly impacted quarterly additions. The reimposition of the Approved List of Models and Manufacturers (ALMM) order further delayed several open access projects. |
