India has made significant strides in solar power capacity this year, installing 16.4 GW of solar projects in the first nine months (9M) of 2024.
This marks an impressive 167% increase compared to 6.2 GW during the same period in 2023.
India achieves record by surpassing its previous records for both nine-month and annual installations, according to the Q3 2024 India Solar Market Update by Mercom India Research.
Delayed Projects Boost Installations
The rapid growth in solar installations can be attributed to the commissioning of several projects that had previously faced delays.
This surge in capacity additions has helped India maintain a strong momentum toward its solar energy goals.
Strong Performance
In Q3 2024, India commissioned 3.5 GW of solar capacity, a 78% increase compared to two GW in Q3 2023.
Of this, 2.8 GW consisted of large-scale photovoltaic (PV) installations.
Notably, around 39% of these installations came from open access or off-site commercial and industrial projects, contributing significantly to the overall growth.
Cumulative Installed Capacity
By September 2024, India’s cumulative installed solar capacity reached 89.1 GW.
The majority of this capacity – over 86% – comes from utility-scale projects, while rooftop solar accounts for nearly 14%.
As a result, solar energy now makes up almost 20% of India’s total installed power capacity and more than 44% of the country’s total renewable energy capacity.
Leading States in Solar Capacity
Rajasthan, Gujarat, and Karnataka continue to lead the country in solar power installations.
Together, these states account for a significant portion of India’s large-scale solar capacity: Rajasthan holds over 27%, Gujarat has 15%, and Karnataka contributes 14%.
Challenges to Continued Growth
While India is on track to achieve its best year in solar installations, significant challenges remain. Issues such as grid connectivity, land availability, and supply constraints are already affecting the momentum.
Raj Prabhu, CEO of Mercom Capital Group, emphasized the need for urgent improvements in transmission infrastructure and land access to prevent solar growth from falling short of its targets.
As reported by pv-magazine-india.com, while India achieves record in solar energy, addressing these infrastructure challenges will be crucial to sustaining this growth and meeting long-term goals.
