From pv magazine India
JMK Research analysts said they expect India to install about 21.5 GW of new solar capacity in calendar year 2024. About 16.5 GW will likely come from utility-scale PV installations, on top of 4 GW of rooftop solar and 1 GW of off-grid systems.
In the first half of 2024, India added approximately 9.6 GW of new utility-scale solar capacity, which is 2.3 times more than the same period in 2023. Rooftop solar installations during this period totaled about 1.8 GW, representing a 19.6% decrease year on year.
During the second quarter of 2024, India installed about 2.1 GW of utility-scale solar capacity, marking a 72% decline compared to the previous quarter. Rooftop solar installations during this quarter reached around 1.05 GW.
In the second quarter of 2024, Sungrow led inverter supplies with a 29.7% market share, followed by Sineng with 13.6% and Fimer with 11.8%. Waaree emerged as the leading module supplier, contributing about 12.9% of total shipments in India.
JMK Research said it expects higher installation activity, projecting about 6.9 GW of solar additions over the next two quarters. The analysts said that approximately 110.6 GW of solar, wind, wind-solar hybrid, and storage projects are in the pipeline, with commissioning expected within the next four to five years. An additional 71.4 GW of projects are in the bidding phase, where tenders have been issued but auctions remain incomplete.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.