This marks a significant increase from the 73.3 GW recorded at the end of 2023, underscoring the country’s progress on its clean energy ambitions.
Rajasthan leads the country with 22.4 GW of installed PV capacity, followed by Gujarat with 14.3 GW. Karnataka and Tamil Nadu follow closely with 8.8 GW and 8.6 GW, respectively.
Industry experts attribute the recent growth partly to the commissioning of capacities at the Khavda Solar Park in Gujarat’s Kachchh district.
Additionally, clarification on the Approved List of Models and Manufacturers (ALMM) policy may have facilitated new additions of solar capacity.
Vibhuti Garg, South Asia director at the Institute of Energy Economics and Financial Analysis (IEEFA), said: “Technological innovation and innovative market mechanisms have been instrumental in reducing overall costs. Solar energy is now the most cheap.
And he added: “However, its variable nature requires the deployment of flexible generation sources for better integration of renewable energies.”
The total capacity of 85.4 GW comprises 66.5 GW of ground-mounted solar plants, 12.9 GW of grid-connected rooftop solar, 2.6 GW of hybrid projects and 3.4 GW of off-grid solar installations. grid.
Despite overall growth, the rooftop solar sector lags behind, having reached just 12.9 GW. Experts suggest that high upfront capital costs remain a major barrier, calling for innovative financing mechanisms to accelerate adoption.
In response, the government launched a nationwide scheme earlier this year, allocating Rs 75,021 crore to provide free electricity to one million households that install rooftop solar panels.
The initiative offers subsidies ranging from Rs 30,000 to Rs 78,000 depending on the capacity of the system.
As of June 2024, India’s total installed renewable energy capacity, excluding large hydropower plants, stands at approximately 148 GW. This includes 85.4 GW of solar, 46.6 GW of wind, 9.4 GW of biomass and 5 GW of small hydropower.
Charith Konda, energy specialist at IEEFA, said, “In 2023, India added 10.02 GW of solar capacity and in the first half of 2024 alone, achieved 12.16 GW of installations.”
He highlighted, “Current solar power capacity positions India in a close race for third place alongside Japan, after China and the United States.”
India aims to install 500 GW of non-fossil fuel capacity by 2030, with solar energy expected to contribute at least 280 GW.
The Ministry of New and Renewable Energy plans to invite tenders for 50 GW of renewable energy capacity annually over the next five years.
However, the country is currently not meeting its annual non-fossil fuel capacity addition targets, having reached around 14 GW during the first half of 2024.
Konda highlighted current challenges, including “delays in land acquisition, difficulties in obtaining approvals, delays in signing power purchase agreements, and obstacles in achieving timely financial closes.”
As India continues its push towards renewable energy, addressing these obstacles will be crucial to meeting its ambitious 2030 clean energy goals.
