India witnessed remarkable growth in renewable energy in 2024, adding 24.5 GW of new solar capacity and 3.4 GW of wind capacity, according to a report by JMK Research & Analytics.
The figures represent a more than twofold increase in solar installations and a 1.21 times rise in wind capacity compared to 2023.
Record Solar Capacity Installations
India’s solar capacity additions in 2024 reached an all-time high, making it the most successful year for solar energy in the country.
Of the 24.5 GW of new solar installations, utility-scale solar accounted for 18.5 GW, rooftop solar contributed 4.59 GW, and off-grid solar added 1.48 GW.
Utility-Scale Solar: With 18.5 GW installed, utility-scale projects grew 2.8 times compared to 2023.
Rooftop Solar: Rooftop installations surged 53% year-on-year to 4.59 GW. This growth was largely driven by the introduction of the PM Surya Ghar: Muft Bijli Yojana, which facilitated 7 lakh rooftop solar installations within 10 months of its launch.
Off-Grid Solar: Distributed solar installations reached 1.48 GW, marking a 197% increase from the previous year.
Wind Energy Shows Steady Growth
Wind energy installations also increased, with 3.4 GW of new capacity added during 2024.
Although the growth in wind energy was more moderate than solar, it reflects consistent progress in India’s renewable energy landscape.
Renewable Energy Capacity Surpasses 209 GW
By the end of December 2024, India’s total installed renewable energy capacity reached an impressive 209.44 GW.
Solar energy emerged as the largest contributor, accounting for approximately 47% of the total renewable energy portfolio. This portfolio includes solar, wind, hydro (large and small), and bio-power installations.
Key Drivers of Growth
The surge in renewable energy capacity is attributed to supportive government policies and initiatives. One such initiative is the PM Surya Ghar: Muft Bijli Yojana, which has significantly boosted rooftop solar adoption.
Additionally, technological advancements and declining costs of solar equipment have further fueled growth across all solar segments.
As reported by pv-magazine-india.com, India has achieved record-breaking milestones in renewable energy in 2024. These accomplishments highlight the country’s commitment to its clean energy transition and ambitious renewable energy targets.
