India installed 12.8 GW of new solar capacity in the first half (Jan-June period) of 2024, up 228.3% compared to H1 2023. Large-scale solar projects accounted for 91.4% (11.7 GW) of the overall installations. This included 3.7 GW of open access/off-site commercial & industrial solar. Rooftop solar addition stood at more than 1.1 GW, says Mercom India’s new report India Solar Market Leaderboard 1H 2024. .
India’s cumulative installed solar capacity reached around 85.5 GW as of June 2024. Large-scale solar projects under development (including open access) stood at 126.1 GW as of June 2024, with another 103.8 GW of tenders pending auction.
Leading players
Adani Green Energy maintained its position as the top utility-scale solar project developer in H1 2024, adding the largest capacity and holding the largest cumulative installed capacity as of June 2024. ReNew and O2 Power ranked second and third, respectively, in capacity addition during the same period.
Collectively, the top ten developers contributed 76.8% of utility-scale solar capacity additions in H1 2024 and accounted for 44.5% of the project development pipeline as of June 2024.
Tata Power Solar remained the top rooftop solar installer in H1 2024, while Roofsol Energy and Havells India secured the second and third positions in terms of capacity addition. The top ten developers collectively captured 57.2% of the rooftop solar market during this period.
Tata Power Solar was the top EPC service provider in 1H 2024, followed by Jakson Green and Ashoka Buildcon.
Sungrow Power Supply held its position as the leading solar inverter supplier in H1 2024 and remained the top central inverter supplier. FIMER India and Sineng Electric were the other leading central inverter suppliers. TBEA Energy India emerged as the biggest supplier of string inverters, followed by Sungrow Power Supply and Ginlong (Solis) Technologies.
Central inverters accounted for 52% of the overall shipments, while string inverters made up 48%.
Jinko Solar retained its top spot as the leading module supplier in H1 2024, with LONGi Green Energy Technology and Waaree Energies following in second and third place, respectively. The top ten suppliers accounted for nearly 65% of total module shipments in 1H 2024.
Arctech topped in solar tracker shipments in H1 2024, with GameChange Solar securing second place. In solar module mounting structures, Goodluck India led the shipments, followed by Arctech and Strolar Mounting Systems.
AM Green Energy emerged as the leading open access solar developer, with Serentica Renewables and Amplus Solar ranking second and third, respectively. The top ten developers captured 59.5% of the market share for solar open access projects during this period.
LEAPTING led robotic module cleaning equipment supplies to the Indian market in 1H 2024. Vayu Solar and Airtouch Solar were the other leading robotic module cleaning equipment suppliers.
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