JMK Research forecasts a significant surge in India’s solar capacity installation for fiscal 2025, projecting a total of 21.2 GW. This expansion comprises 16.5 GW of utility-scale photovoltaic systems, 4 GW of rooftop solar setups, and 700 MW of off-grid installations.
JMK Research anticipates a robust addition to India’s solar capacity in fiscal 2025, slated to reach approximately 21.2 GW by March 31, 2025. This surge will encompass 16.5 GW of utility-scale photovoltaic installations, along with 4 GW of rooftop solar deployments and 700 MW of off-grid systems.
During fiscal 2024, India witnessed a notable increase in its utility-scale solar capacity installation, reaching approximately 11.5 GW, marking an 18% surge compared to the preceding fiscal year. Furthermore, developers introduced roughly 3 GW of rooftop solar installations, reflecting a substantial 34% year-on-year growth in this segment.
As of March 31, 2024, India’s cumulative renewable energy capacity installation soared to 190.57 GW, with solar leading the charge, comprising 43% of the total capacity, followed by wind and large hydro projects. Adani stands out as the top renewable energy company in India, boasting an operational capacity of approximately 10.4 GW as of March 31, 2024. Additionally, the company has an ambitious pipeline of renewable projects totaling 21.95 GW, reaffirming its commitment to advancing sustainable energy initiatives.
As of March 31, 2024, India’s cumulative renewable energy capacity installation soared to 190.57 GW. Solar energy led the charge, accounting for a significant 43% of the total capacity, followed by wind and large hydro projects. Adani emerges as the front runner among renewable energy companies in India, boasting an operational capacity of approximately 10.4 GW as of the same date. Moreover, the company has an ambitious pipeline of renewable projects totaling 21.95 GW, reaffirming its commitment to furthering sustainable energy initiatives.
During the initial quarter of 2024, India experienced a substantial surge in utility-scale solar capacity additions, totaling approximately 7.5 GW. This figure represents a fivefold increase compared to the installations recorded in the previous quarter. Notably, Sungrow emerged as the primary inverter supplier, closely trailed by Fimer and Sineng. Moreover, in the same period, JinkoSolar secured its position as the foremost PV module supplier in India, with Longi and Trina Solar following suit in the rankings.
From PV Magazine