India’s solar installations jump to 12.8 GW in H1 2024 - Mercom

India installed 12.8 GW of solar capacity in the first half of 2024, marking a 228.3% jump over the same period in 2023 and bringing its cumulative solar capacity to 85.5 GW as of June 2024.

The first half of 2024 was a record-setting period for the Indian solar sector, fuelled by the commissioning of several delayed projects, aided by a notable drop in module prices, Mercom India said on Tuesday as it released its India Solar Market Leaderboard 1H 2024 report. The first quarter was particularly strong with more than 10 GW of new solar installations, according to previous Mercom data.

A total of 11.7 GW of the first-half additions were large-scale solar, including open access projects, while 1.1 GW were rooftop solar.

As of June 2024, the country had a 126.1-GW pipeline of large-scale solar projects under development, with a further 103.8 GW of tenders pending auction.

According to the report, Adani Green Energy kept its lead as the top utility-scale solar project developer, scoring the highest capacity additions and the largest cumulative installed capacity. It was followed by ReNew and O2 Power for capacity additions in the first half. The top 10 developers accounted for 76.8% of utility-scale solar capacity added in the period.

Tata Power Solar was the top rooftop solar installer and also the top engineering, procurement and construction (EPC) service provider.

In the first half of year, 3.7 GW of open access solar capacity was added, marking a 119.6% year-over-year increase, with AM Green Energy emerging as the leading developer in this segment.

Jinko Solar kept its position as the leading module supplier, followed by LONGi Green Energy Technology and Waaree Energies.

Sungrow Power Supply remained the top central inverter supplier, while TBEA Energy India was the top supplier of string inverters.

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