India adds 20 GW of solar, wind capacity in 9M

Solar led capacity additions.

India continues to be a leader in renewable energy as it adds 201.46 gigawatts (GW) of solar and wind capacity in the first nine months of the year (9M 2024).

According to JMK Research, solar accounted for the majority of the new capacity, with 17,444 megawatts (MW), whilst wind added 2,627 MW. Both of these represent a significant increase of 105.8% and 14.8%, respectively.

The report noted that total solar capacity added during 9M 2024 is the highest recorded capacity in any previous year. Solar also accounts for approximately 45% of the total renewable energy segment, making it the largest contributor amongst renewable sources.

Broken down, India added about 13.2 GW of new utility-scale solar capacity in 9M, up 160.9% compared to last year. This surge was attributed to the government’s initiative to issue bids for 50 GW of renewable energy capacity annually over the next five years.

Rajasthan led Indian states during the period with 4.96 GW capacity, followed by Gujarat with 3.13 GW and Tamil Nadu with 1.57 GW.

In terms of rooftop solar, India added about 3.2 GW, which was a 7.3% increase compared to the first nine months of 2023. The increase was attributed to the launch of the PM Surya Ghar: Muft Bijli Yojana.

Offgrid/distributed solar segment also reported improvements, with 1,035 MW added in 9M 2024, which is about 2.5 times higher than the installations in the same period last year.

In the wind sector, about 2.6 GW of new capacity was added in 9M 2024, up by 14.8% from 2.3 GW last year. Gujarat (985 MW), Karnataka (968 MW) and Tamil Nadu (613 MW) accounted for about 97% of the new wind capacity added during this period.

JMK Research expects India to surpass record solar installation of over 20 GW in 2024, whilst wind installations are projected to cross 3 GW mark.