India’s solar energy sector has successfully achieved a milestone of 15 GW of new solar installations in the first half of 2024. As of June 2024, India’s solar capacity has reached 87.2 GW, with solar energy representing 19.5% of the country’s installation capacity.
This remarkable increase of 282% compared to the same period of the first half of 2023 has surpassed all the previous records.
Total solar energy accounted for 19.5 % and installed power capacity was over 44 %. The average cost of a large-scale solar energy project has reduced by nearly 26 % as compared to last year and by 2 % in comparison with the previous quarter.
This remarkable growth made an impact by solar energy on all the other sources of electricity. The first half of 2024 has shown a major boost for the solar industry.
CEO of Mercom Capital Group, Raj Prabhu said, “However, to ensure that the strong pipeline of projects and ramped-up tender activity translate into timely installations, we must tackle the component supply and grid connectivity challenges with urgency so we can meet the 280 GW target by 2030.”
Source : Mercom India
A total of 41.4 tenders were announced in the first half, representing a 51 % increase from 27.5 GW in the first half of 2023. The projects of H1 of 2024 reached its auctions up to 31.8 GW, which was a remarkable 321% rise from the previous year.
Rajasthan, Gujarat, and Karnataka were the top three states in solar capacity additions, contributing significantly to the country’s total solar installations.
Source: Mercom India
Source :
- https://timesofindia.indiatimes.com/business/india-business/india-adds-record-15-gw-solar-capacity-in-january-june-report/articleshow/112803303.cms
- https://www.devdiscourse.com/article/headlines/3063982-indias-solar-surge-record-15-gw-installed-in-1h-2024
- https://www.mercomindia.com/india-15-gw-solar-1h-2024
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