India added 25.2 GW of solar power capacity in the calendar year (CY) 2024, over 204% increase compared to 8.3 GW added in 2023, according to Mercom India’s newly released Q4 and Annual 2024 India Solar Market Update report. The nation’s new PV installations in 2024 surpassed annual capacity additions of all previous years.
Large-scale solar projects, including solar open access (offsite commercial and industrial solar), accounted for more than 87% (22 GW) of the total capacity additions, while rooftop solar contributed nearly 13% (3.27 GW).
Large-scale solar installations (at 22 GW) were up nearly 235% from 6.6 GW in 2023. Installations under the open access model comprised over 31% of the large-scale solar capacity additions.
Rajasthan, Gujarat, and Maharashtra led the large-scale solar installations in 2024, accounting for around 32%, 27%, and 8% of the capacity additions.
“India’s solar sector saw record-breaking installations in 2024, but the numbers could have been significantly higher if not for transmission issues and supply chain delays. Rising costs due to import duties and expensive domestic modules remain a concern for the industry. With over 35 GW of annual solar additions needed to meet 2030 goals, the industry requires clear, stable policies that balance local manufacturing with seamless project development,” said Raj Prabhu, CEO of Mercom Capital Group.
In 2024, India added 34.7 GW of new power capacity. Solar power accounted for almost 73% of the capacity additions.
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