India’s Solar Capacity Soars with Record 12.8 GW Installed in 1H 2024

Credit: Naveed Ahmed/Unsplash

India installed 12.8 GW of capacity in the first half of 2024, marking a 228.3% year-over-year increase and reaching a cumulative solar capacity of 85.5 GW as of June, according to Mercom India's India Solar Market Leaderboard 1H 2024 report. This growth was propelled by the commissioning of several delayed projects alongside a significant drop in module prices, with over 10 GW of new installations in the first quarter alone.

Of the total 12.8 GW, large-scale solar—encompassing open access projects—accounted for 11.7 GW, while contributed 1.1 GW. Looking ahead, India has a 126.1-GW pipeline of large-scale solar projects under development and an additional 103.8 GW pending auction.

Adani Green Energy led utility-scale solar developments with the highest capacity additions, followed by ReNew and O2 Power. Together, the top 10 developers represented 76.8% of utility-scale additions. Solar dominated the rooftop solar market and also held the top spot in engineering, procurement, and construction (EPC) services.

In the open access segment, capacity additions reached 3.7 GW, a 119.6% year-over-year jump, with AM Green Energy as the leading developer. In terms of suppliers, maintained its position as the top module supplier, followed by LONGi Green Energy Technology and Energies. Sungrow Power Supply led as the top central inverter supplier, and TBEA Energy India was the primary string inverter provider.

This record-setting growth positions India as a key player in the global solar industry, bolstering its path toward renewable energy targets.

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