India installed 6.8 GW of solar in H1

India installed 6,794 MW of solar power capacity in the first half of 2023, which is about 19% lower than the same period of the previous year.

According to a new report by JMK Research, around 2,294 MW of rooftop solar capacity was added in the first half of 2023, which is higher than the entire rooftop PV installations in 2022. Wind power installations surged 166% year on year to 1,878 MW in the same period.

JMK Research said that “the installed capacity in wind in the first half of 2023 has already surpassed overall calendar year 2022 installation figures. Removal of reverse auctions and declaration of annual 50 GW tendering trajectory by the government will further reinvigorate the wind sector.”

According to the Ministry of New and Renewable Energy (MNRE), India’s cumulative installed capacity of renewable energy generation reached 129.6 GW by June 30, 2023. Solar energy accounts for around 54% of the total installed renewables capacity.

Gujarat led with 1.6 GW capacity installed in the first half of 2023 in terms of state-wise solar installations. Due to its attractive wind-solar hybrid policy, Gujarat also leads in wind capacity installations with 1.039 GW installed during H1 2023.

JMK analysts expect India to add 7 GW to 8 GW of solar and 1.5 GW of wind in the second half of 2023. The analysts said that “significant fall in solar module prices over last few months as well as relaxation in ALMM implementation until fiscal 2024 will be the key drivers to augment solar capacity addition in second half of the year.”