India has made growth in solar power capacity to 85.4 GW, as per the reports from the Ministry of New and Renewable Energy. The country has made remarkable progress from 73.3 GW which was at the end of 2023 to 85.4 GW till half of 2024.
Rajasthan is the nation’s leader in the solar industry with an installation of 22.4 GW. They are followed by Gujarat at 14.3 GW, Karnataka at 8.8 GW, and Tamil Nadu at 8.6 GW. Researchers reported that the sudden rise in solar power is because of the completion of the Khavda Solar Park project in the Kachchh district of Gujarat.
In addition, policies and guidelines on the Approved List of Models and Manufacturers (ALMM) may also have helped to add new solar capacity.
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”. He added, “However, its variable nature requires the deployment of flexible generation sources for better integration of renewable energies”.
Out of a total solar installation capacity of 85.4 GW, the ground-mounted solar plants occupy 66.5 GW followed by grid-connected rooftop solar of 12.9 GW, hybrid projects are of 2.6 GW, and off-grid solar is 3.4 GW.
While the solar industry is growing, rooftop solar is lagging at only 12.9 GW. According to experts, high upfront costs are the main challenges and they need new innovative financing guidelines to boost solar adoption. The government has initiated schemes allocating Rs 75,201 crore to provide free electricity to one million households who install rooftop solar panels. PM Surya Ghar Muft Bijli Yojana scheme provides 300 units of electricity to each household. According to the scheme, the government provides subsidies of Rs 30,000 to Rs 70,000 depending upon the system installed in households.
Energy specialist Charith Konda at IEEFA said “India installed 10.02 GW of solar capacity in 2023 whereas in just half of 2024, the country has reached 12.16 GW of installations”. He also highlighted that India is very close to being in the third spot globally alongside Japan after China and the US in the solar industry.
Solar energy is expected to reach 280 GW out of 500 GW of non-fossil fuel capacity by 2030. The Ministry of New and Renewable Energy is aiming to invite tenders for 50 GW of renewable energy for the next five consecutive years. Although, the country has attained 14 GW of non-fossil fuel capacity in half of 2024.
Konda mentions some major problems which include slow land acquisition, challenges in obtaining approvals, delays in signing Power Purchase Agreements(PPA), and difficulty in securing financing on time.
To achieve clean energy goals by 2030, it is essential to address and overcome all obstacles impairing renewable energy development.
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