India’s Solar Energy: Installed Capacity Insights

Imagine a solar revolution across India, powering everything from homes to big companies with clean energy. By March 2024, India had a massive 81,813.6 MW of solar power installed. This is almost 57% of the total renewable capacity, making it a global leader in clean energy.

In the year 2023-24, over 15 GW of solar power was added. This shows how quickly India is increasing its use of renewable energy. Now, India’s total renewable capacity is 143.64 GW. Solar and wind power make up nearly 89% of this. It indicates India’s strong commitment to clean energy.

Key Takeaways

• India’s installed solar PV capacity reached 81,813.6 MW as of March 2024, accounting for 56.96% of the country’s total renewable capacity.
• The fiscal year 2023-24 saw the installation of over 15 GW of solar PV capacity, underscoring India’s commitment to expanding its renewable energy portfolio.
• India’s total installed renewable capacity stands at 143.64 GW, with solar and wind power contributing 88.90% of the total.
• Fenice Energy offers comprehensive clean energy solutions, including solar, backup systems, and EV charging, backed by over 20 years of experience.
• The Indian government’s initiatives, such as the Approved List of Models and Manufacturers (ALMM) and the Production Linked Incentive (PLI) scheme, have bolstered the domestic solar industry.

India’s Remarkable Solar Energy Growth

In India, the use of solar power has grown a lot in recent years. This is because solar technology costs less now and has improved. Many developers and investors are now interested in this, which has helped the country increase its use of renewable energy.

Most of India’s renewable energy comes from solar and wind power. Together, they make up nearly 89% of the total renewable energy used. This shows that India is at the forefront of using clean energy.

Surging Solar PV Capacity

As of March 2024, India has set up 81,813.6 MW of solar energy. This makes up about 57% of the country’s renewable energy capacity, not counting large hydro projects. In the year 2023-24, India added more than 15 GW of solar power, showing its strong effort to grow its green energy sector.

Contribution to Renewable Energy Landscape

The total renewable energy capacity in India is now 143.64 GW. Solar and wind energy have a big share, nearly 89%. This means India is a top player in using clean power sources.

Alignment with Climate Change Goals

India is working hard to fight climate change. Solar power is key in these efforts. It helps reduce the country’s carbon footprint. This is an important step towards a cleaner and greener future.

Key Drivers of Solar Expansion

Solar energy has seen a big rise in India thanks to several important reasons. One big factor is the falling prices of solar technology. This is due to advancements in solar photovoltaic (PV) technology. As a result, solar power has become more affordable and a smart choice for both people and companies.

The Indian government is also supporting the solar industry with special policies. The ALMM and the PLI scheme help ensure good quality and encourage local production. Thanks to these policies, more solar energy is being used in the country.

Another reason for the growth is the growing concern for the environment in India. More and more people are realizing the benefits of solar power. These include less pollution and cleaner air. This has led to a quick growth in the use of solar energy.

Installed Capacity of Solar Energy in India

By March 2024, India had set up an amazing 81,813.6 MW in solar power. This makes up a big 56.96% of all renewable energy (excluding big hydro). During the year 2023-24, more than 15 GW of solar power got added. It shows how much India is focused on growing its use of clean energy.

Current Solar PV Capacity

India’s total for renewable energy is now at 143.64 GW. When you add solar and wind power together, they make up almost 89% of that. This proves India is leading in using renewable energy.

Share in Total Renewable Capacity

India’s solar PV capacity alone makes up 56.96% of all the renewable power capacity in the country. This is a big part of India’s push for more clean energy.

Annual Growth Rate

Just in the year 2023-24, more than 15 GW of solar power were added. This huge increase shows how fast the solar energy sector is growing in India.

Diversifying India’s Solar Energy Landscape

India’s approach to solar energy is varied. It includes many types of solar installations. Ground-mounted solar sites make up 64.41 GW of the total. Additionally, 2.57 GW is from Hybrid Solar Components. Rooftop solar panels on homes, businesses, and industrial buildings now total 11.87 GW. This pattern helps spread power production. It makes energy more secure. Also, it gives people and businesses a way to make cleaner energy.

Ground-mounted Solar Installations

Ground-mounted solar sites have been key in India’s solar growth. They add up to 64.41 GW of power production. These big projects use open land to capture the sun’s energy. They have helped India use its sunny weather for energy.

Rooftop Solar Installations

Rooftop solar panels have also grown a lot, reaching 11.87 GW. They are on homes, businesses, and factories. This growth boosts energy security and lets people and companies help make cleaner energy. Thus, it’s a major step in changing India’s solar use.

Off-grid Solar Solutions

Off-grid solar solutions, such as solar lanterns and microgrids, are changing lives in remote areas. They’re making communities better by bringing light. In rural places, they’re key for growth. These solutions are making clean, reliable energy more available. This helps change India’s solar picture.

Fostering Renewable Energy Innovation

The Indian government is pushing for more creativity and growth in renewable energy. They’ve brought back the Approved List of Models and Manufacturers (ALMM) Order. This order focused on solar PV modules, making sure they meet high quality standards for projects funded by the government.

Approved List of Models and Manufacturers (ALMM)

The ALMM Order is key to keeping solar PV modules top-notch in India’s clean energy projects. By using only approved models and manufacturers, the government is making solar energy more reliable across the nation. This boosts trust in solar power and helps it be used more widely.

Production Linked Incentive (PLI) Scheme

But that’s not all. There’s also the Production Linked Incentive (PLI) scheme. This helps local makers increase what they produce and be more price competitive. Thanks to this, India’s ability to make solar panels grew to 68 GW by March 2024.

Export Opportunities for Solar Equipment

These moves are helping India do more in the global solar tools market. The nation is exporting solar panels, especially to the U.S. The Uyghur Forced Labor Prevention Act makes this a big chance for Indian companies. This isn’t just good for India’s renewable energy role. It also helps the economy and creates jobs.

Conclusion

India is making huge strides in solar power. This shows its strong commitment to a clean environment. With 81,813.6 MW in solar PV, India leads the world in using solar energy.

The Indian government, new technology, and public interest are driving this growth. India sees renewable energy as crucial for its future. This makes India a key player in the global move towards renewable sources.

India’s solar energy potential is very high. It is focusing a lot on renewable energy solutions like those from Fenice Energy. This approach will lead other countries to follow India’s example. Together, they aim for a better, cleaner, and more sustainable world.

FAQ

What is the current installed solar PV capacity in India?

India had 81,813.6 MW of solar PV capacity by March 2024.

What is the share of solar energy in India’s total renewable capacity?

Solar energy makes up nearly 57% of India’s renewable power (not including big hydro).

How much solar PV capacity was added in the fiscal year 2023-24?

The year 2023-24 saw India add over 15 GW of solar power.

What is India’s total installed renewable capacity?

The country boasts 143.64 GW of renewable power (minus large hydro).

What is the contribution of solar and wind power to India’s total renewable capacity?

Wind and solar make up nearly 89% of India’s renewable power.

What are the key factors driving the growth of solar energy in India?

Solar growth in India is powered by cheaper technology, strong government actions, and higher eco-awareness.

How has the Indian government fostered innovation and growth in the renewable energy sector?

The Indian government backs local solar manufacturing with the ALMM and helps them grow with the PLI program.

What are the different types of solar installations in India?

India has ground and rooftop solar setups, besides off-grid solutions, adding to its renewable mix.