India’s Solar Energy Revolution: Leader with 85,474.31 MW and 57.72% Renewable Energy by June 2024

India has seen remarkable growth in solar power deployment in recent years, driven by falling costs and advances in photovoltaic (PV) technology. As of June 2024, India’s installed solar capacity had reached an impressive 85,474.31 MW, accounting for more than half of its renewable energy capacity (excluding large hydropower).

In the first quarter (Q1) of fiscal 2024-25 alone, India added over 3.66 GW of solar PV capacity, underlining its commitment to expanding its renewable energy portfolio. A total of over 4.44 GW of renewable energy capacity was installed during the quarter, with solar energy accounting for 82.4% of this figure.

A significant recent development is the reinstatement of the Regulation on Approved Models and Manufacturers of Photovoltaic Modules (ALMM) by the Ministry of New and Renewable Energy (MNRE) from April 1, 2024. This measure aims to ensure high quality and reliability of solar installations, especially for government-sponsored projects.

India’s total renewable capacity now stands at an impressive 148,084 GW, with solar and wind combined accounting for almost 89.23% of this capacity. This underlines India’s leading role in the global adoption of renewable energy.

Solar energy plays a key role in India’s Sustainable Development Goals and efforts to combat climate change, offering minimal greenhouse gas emissions and significantly reducing the country’s carbon footprint. Ground-mounted solar systems alone contribute to 66.52 GW of installed capacity, with an additional 2.59 GW under Hybrid Solar Components.

A notable trend is the decentralization of energy generation through rooftop solar installations. India currently boasts 12.92 GW of solar capacity installed on rooftops of homes, businesses and industrial buildings. This not only increases energy security but also enables individuals and businesses to contribute to cleaner energy production.

In rural areas with limited access to electricity, solar energy is transformative. Off-grid solar solutions such as solar lanterns and microgrids, with a combined capacity of 3.44 GW, are key to bringing electricity to remote communities and improving living standards.

India’s success in solar energy can be attributed to a combination of government initiatives, technological advances and increased awareness of the benefits of renewable energy. Solar energy accounts for over 57.72% of India’s total installed renewable capacity, making the country a global leader in sustainability and the transition to clean energy.

Wind power has also seen significant growth in India, crossing the installed capacity of 46,656.37 MW by June 2024, with an additional 769.86 MW added in the first quarter of fiscal 2024-25. As India continues to prioritise solar energy, it is poised to play a key role in shaping the global renewable energy landscape and inspire other nations to harness the vast potential of solar energy.

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