JMK Research projects that 21.2 GW of new solar capacity will be installed in India in fiscal 2025. The new additions will include 16.5 GW of utility-scale PV, 4 GW of rooftop solar, and 700 MW of off-grid installations.
Solar Installation Target in FY 2025: India is expected to install 21.2 GW of new solar capacity by March 31, 2025 (fiscal year 2025).
Breakdown:
16.5 GW utility-scale PV
4 GW rooftop solar
700 MW off-grid systems
FY 2024 Solar Installations:
11.5 GW new utility-scale solar (18% increase over previous year)
3 GW new rooftop solar (34% increase over previous year)
India's Renewable Capacity: As of March 31, 2024, India's total renewable energy capacity reached 190.57 GW with solar as the leading contributor (43% share).
Leading Renewable Company: Adani is the top company with 10.4 GW operational capacity and 21.95 GW under development.
Q1 2024 Solar Installations:
7.5 GW utility-scale solar added (significant increase from previous quarter)
Leading inverter suppliers: Sun grow, Fimer, Sineng
Leading PV module suppliers: Jinko Solar, Longi and Trina Solar
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