India Added 8.4GW of Solar Capacity in 1H22

Article By : JMK Research & Analytics

From January 2022 to June 2022, about 8.36GW solar capacity was added in India, around 71% higher compared to the same period in the previous year.

From January 2022 to June 2022, about 8.36GW solar capacity was added in India. This is about 71% higher compared to the same period in the previous year, according to JMK Research & Analytics.

In terms of cumulative installations till June 2022, according to the Ministry of New and Renewable Energy (MNRE), India’s renewable energy (RE) installed capacity reached 114 GW. Solar energy contributes approximately 51% share of the total RE segment, making it the largest contributor followed by Wind Energy (36%), Bio-power (9%), and Small Hydro (4%).

Figure 1: Solar Installation Trends in India

Source: CEA, JMK Research (Note: Solar capacity includes utility-scale solar, rooftop solar and off-grid/distributed solar capacity.)

In terms of state-wise installation in the first half of 2022, Rajasthan leads with 4.5 GW capacity. Following the latter are Gujarat (1.5 GW) and Tamil Nadu (0.86 GW).

Figure 2: State-wise Solar Capacity Addition in India (During January to June 2022 Period)

Source: MNRE, JMK Research

According to JMK Research, in 2022, about 20GW of solar is expected to be added in India (~16.5GW from utility-scale and 3.5GW from rooftop solar). The country’s capacity addition in the utility-scale domain has been commendable and it is on track to achieve nearly 97% of its 60GW target. While on the other hand, in rooftop solar, just over a quarter of the 40 GW target is likely to be achieved. By December 2022, this segment is expected to fall short of its target by 25GW.

In November 2021, the Indian government enhanced the national target for non-fossil fuel based installed capacity to 500GW to be achieved by 2030. Out of which, solar’s contribution is proposedly around 300GW. Thus, a yearly augmentation of about 27GW of solar capacity would be required.

Attaining this ambitious target would require concurrent development of all segments (utility scale, open access, rooftop, etc.) of solar industry. Considering the laggardness of rooftop solar market so far, it is highly imperative to have a greater focus on, and put more concerted efforts towards, the growth of this segment. Additionally, to mitigate supply chain risks, it is critical to enhance domestic solar manufacturing capabilities.

 

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