India installed 14.9 GW of photovoltaic (PV) in H1 2024

India added 14.9 GW of new photovoltaic (PV) capacity in the six months ending June, breaking all previous half-year and annual PV installation records.
On a year-on-year basis, this is a 282% increase compared to PV installations in H1 2023, according to Mercom India Research’s Q2 2024 India Solar Market Update.

Mercom analysts said the commissioning of several previously delayed projects contributed to capacity additions in H1 2024.

“2024 is shaping up to be a breakthrough year for India’s solar industry, with an impressive first half. However, to ensure that the robust project pipeline and accelerated bidding activity translate into timely installations, it is critical that we address the component supply and grid connectivity challenges urgently so that we can meet the 280 GW target by 2030,” said Raj Prabhu, CEO, Mercom Capital Group.

As of June 2024, India’s cumulative installed solar capacity reached 87.2 GW, with utility-scale projects contributing nearly 87% and rooftop solar contributing over 13%. Solar accounted for 19.5% of India’s installed power capacity and over 44% of the total installed renewable energy capacity.

Rajasthan, Gujarat and Karnataka were the top three states in cumulative utility-scale solar installations, accounting for 29%, 15% and 14% of the country’s installed capacity.
Q2 2024 2024

In the second quarter ending June, 5 GW of solar capacity was commissioned. Installations fell more than 49% quarter-on-quarter (q/q) compared to 9.9 GW installed in Q1 2024.

In Q2 2024, 4.3 GW of utility-scale solar projects were commissioned, including nearly 1.8 GW of open-access solar projects. Utility-scale solar capacity additions fell more than 55% q/q compared to 9.5 GW in Q1 2024 and increased more than 191% y/y compared to 1.5 GW in Q2 2023.

Analysts said project delays due to grid connectivity and transmission infrastructure issues significantly impacted quarterly utility-scale solar project additions. The reimposition of the Approved List of Models and Manufacturers (ALMM) order further impacted the viability and commissioning of several open access projects, contributing to substantial delays during the quarter.