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					</table><p>Andhra Pradesh experienced renewed growth in open access solar capacity additions in Q1 2024, after a weak four quarters in 2023. The state accounted for the second-highest solar open access capacity (21%) in Q1 after no solar open access projects were commissioned in the previous quarter.</p>
<p>India added 1.8 GW of new solar open access capacity in Q1 2024, the most in any quarter to date, with the top five states accounting for 79.3% of the new installed capacity, according to the recently released <a href="https://www.mercomindia.com/product/q1-2024-mercom-india-solar-open-access-market-report" target="_blank" rel="noopener">Q1 2024 Mercom India Solar Open Access Market Report</a>.</p>
<p>The installation numbers in Andhra were skewed by a large captive project, which was an anomaly but a welcome break after a year (2023) that recorded one of the lowest open access solar capacity additions since 2013.</p>
<p>Andhra Pradesh climbed from the seventh to sixth position as the cumulative installed open access capacity rose 67.1% QoQ as of March 2024, accounting for 6.7% of the country&#8217;s cumulative capacity.</p>
<p><img loading="lazy" decoding="async" class=" wp-image-67597 aligncenter" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/07/Open-Access-2-300x140.png" alt="Open Access-2" width="634" height="296" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/07/Open-Access-2-300x140.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/07/Open-Access-2-768x359.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/07/Open-Access-2-650x304.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/07/Open-Access-2-624x292.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/07/Open-Access-2-600x280.png 600w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/07/Open-Access-2.png 1164w" sizes="(max-width: 634px) 100vw, 634px" /></p>
<p>&nbsp;</p>
<p><strong>Policy Support</strong></p>
<p>After a year (2023) of low installations, the state government has been taking policy measures to promote green energy open access. Energy banking on a monthly basis, exemption of open access projects from additional surcharge, and reduction in the wheeling charges in the range of 19-44% year-over-year are some factors that could drive the growth in the coming months.</p>
<p>The state&#8217;s infrastructure and renewable energy resource availability make Andhra Pradesh a favorable destination for open access solar. The captive and group captive projects offer the highest savings in the state due to the exemptions from cross-subsidy and additional surcharges. Under the third-party open access model, the state provides the third-lowest landed cost for high-tension industrial consumers.</p>
<p>Captive solar open access allows industrial consumers in the state to save up to ₹1.36 (~$0.016)/kWh, nearly 24% of the DISCOM&#8217;s tariff at 11 kV. Similarly, commercial consumers can save up to ₹2.57 (~$0.031)/kWh, almost 37% of the electricity tariff levied by the DISCOM.</p>
<p><img loading="lazy" decoding="async" class=" wp-image-67593 aligncenter" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/07/Open-Access-1a-300x200.png" alt="Open Access -1a" width="566" height="378" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/07/Open-Access-1a-300x200.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/07/Open-Access-1a-768x513.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/07/Open-Access-1a-650x434.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/07/Open-Access-1a-624x417.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/07/Open-Access-1a-600x401.png 600w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/07/Open-Access-1a.png 805w" sizes="(max-width: 566px) 100vw, 566px" /></p>
<p>The three Andhra Pradesh DISCOMs appear more amenable to approving open access installations than before, thanks to improved ratings as a result of reduced AT&amp;C losses, higher collection efficiency, and a narrower ACS-ARR gap.</p>
<p>Eastern Power Distribution Company of Andhra Pradesh (<a href="https://www.apeasternpower.com/" target="_blank" rel="noopener">APEPDCL</a>) was upgraded from a B in FY23 to an A rating in FY24. However, its ACS-ARR gap increased by ₹0.01 (~$0.00012)/kWh to ₹-0.07 (~$-0.00084)/kWh, AT&amp;C losses reduced to 5.9% from 7.8% YoY as its collection efficiency improved to 100% from 98.8% YoY.</p>
<p>Central Power Distribution Company of Andhra Pradesh (<a href="https://www.apcpdcl.in/" target="_blank" rel="noopener">APCPDCL</a>) improved its rating from C to B- in 2024. Its ACS-ARR gap narrowed ₹0.57 (~$0.0069)/kWh to ₹0.07 (~$0.00084)/kWh.</p>
<p>Southern Power Distribution Company of Andhra Pradesh (<a href="https://www.apspdcl.in/index.jsp" target="_blank" rel="noopener">APSPDCL</a>) improved from a C in FY22 to a B- in FY23. Its ACS-ARR gap was reduced by ₹0.92 (~$0.011)/kWh to ₹0.04 (~$0.0048)/kWh. AT&amp;C losses decreased to 8.1% from 13.6% YoY.</p>
<p>As of March 2024, open access accounted for 19.6% of the state&#8217;s cumulative installed large-scale solar capacity. Wind-solar hybrid power projects accounted for 40% of the open access solar installations, and floating solar projects accounted for 0.5%. Standalone solar projects accounted for the rest.</p>
<p>Mercom India&#8217;s <a href="https://www.mercomindia.com/product/q1-2024-mercom-india-solar-open-access-market-report" target="_blank" rel="noopener">Q1 2024 Solar Open Access Market</a> Report provides an in-depth analysis of the state-wise open access market and data on electricity tariffs and open access charges.</p>


Andhra Sees Growth in Solar Open Access Capacity Additions in Q1 2024


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					</table><p>Green Day-Ahead Market (GDAM) has provided new opportunities for renewable energy generators and distribution companies (DISCOMs) to trade surplus power on exchanges.</p>
<p>Power generators affected by long-delayed payments from DISCOMs and those with surplus power from projects linked to power purchase agreements (PPA) can sell their excess power on exchanges, preventing it from going to waste.</p>
<p>GDAM reduces green power curtailment, ensures instant payments for power sold on the same day it is delivered, and opens a new market for untapped renewable energy potential. It has also created new opportunities to develop merchant renewable energy capacity without the need for long-term PPAs.</p>
<p>An added advantage is that obligated entities (DISCOMs and captive power consumers) can meet their renewable power purchase obligation (RPO) mandate by directly buying green power from the exchanges.</p>
<p>Before the introduction of GDAM, renewable power was mainly procured through the Green Term-Ahead Market (GTAM).</p>
<p><strong>Top Sellers in the Green Day Ahead Market</strong></p>
<p>In the fourth quarter (Q4) of the calendar year (CY) 2023, <a href="https://www.adanigreenenergy.com/en/hybridpower" target="_blank" rel="noopener">Adani Hybrid Energy</a> was the top entity selling power through the exchanges, accounting for 14.2%, followed by <a href="https://www.adanisolar.com/" target="_blank" rel="noopener">Adani Solar Energy</a> (8%). Ostro Energy, <a href="https://www.renew.com/" target="_blank" rel="noopener">ReNew</a>, and Jammu &amp; Kashmir represented 7.8%, 7.5%, and 6.3%, respectively, as the entities selling power in the GDAM.</p>
<p><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/06/Electricity-Sold-in-G-DAM-Through-Power-Exchanges-in-Q4-2023-MUs.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-67210 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/06/Electricity-Sold-in-G-DAM-Through-Power-Exchanges-in-Q4-2023-MUs.png" alt="Electricity Sold in G-DAM Through Power Exchanges in Q4 2023 (MUs)" width="2641" height="1476" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/06/Electricity-Sold-in-G-DAM-Through-Power-Exchanges-in-Q4-2023-MUs.png 2641w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/06/Electricity-Sold-in-G-DAM-Through-Power-Exchanges-in-Q4-2023-MUs-300x168.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/06/Electricity-Sold-in-G-DAM-Through-Power-Exchanges-in-Q4-2023-MUs-2000x1118.png 2000w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/06/Electricity-Sold-in-G-DAM-Through-Power-Exchanges-in-Q4-2023-MUs-768x429.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/06/Electricity-Sold-in-G-DAM-Through-Power-Exchanges-in-Q4-2023-MUs-1536x858.png 1536w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/06/Electricity-Sold-in-G-DAM-Through-Power-Exchanges-in-Q4-2023-MUs-2048x1145.png 2048w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/06/Electricity-Sold-in-G-DAM-Through-Power-Exchanges-in-Q4-2023-MUs-650x363.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/06/Electricity-Sold-in-G-DAM-Through-Power-Exchanges-in-Q4-2023-MUs-624x349.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/06/Electricity-Sold-in-G-DAM-Through-Power-Exchanges-in-Q4-2023-MUs-600x335.png 600w" sizes="(max-width: 2641px) 100vw, 2641px" /></a></p>
<p>These numbers were revealed in <a href="https://www.mercomindia.com/product/q1-2024-mercom-india-solar-open-access-market-report" target="_blank" rel="noopener"><strong>Mercom India Solar Open Access Market Report Q</strong>1<strong> 202</strong>4<strong>.</strong></a> The top five states accounted for 43.8% of power sold in the GDAM in Q4 2023.</p>
<p><strong>Top Buyers in the Green Day Ahead Market</strong></p>
<p><a href="https://corporate.arcelormittal.com/" target="_blank" rel="noopener">Arcelor Mittal</a> was the leading energy procurer from GDAM with 36.4% of the total market share, followed by Delhi at 12%. Tamil Nadu, <a href="https://www.balcoindia.com/" target="_blank" rel="noopener">Bharat Aluminium</a>, and <a href="https://www.dvc.gov.in/" target="_blank" rel="noopener">Damodar Valley Corporation</a> were the other major buyers, accounting for 9.7%, 8.3%, and 4.9%, respectively. The top ten states made up 88% of the total energy procured through GDAM.</p>
<p><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/06/Electricity-Purchased-in-G-DAM-Through-Power-Exchanges-in-Q4-2023-MUs.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-67209 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/06/Electricity-Purchased-in-G-DAM-Through-Power-Exchanges-in-Q4-2023-MUs.png" alt="Electricity Purchased in G-DAM Through Power Exchanges in Q4 2023 (MUs)" width="2550" height="1556" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/06/Electricity-Purchased-in-G-DAM-Through-Power-Exchanges-in-Q4-2023-MUs.png 2550w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/06/Electricity-Purchased-in-G-DAM-Through-Power-Exchanges-in-Q4-2023-MUs-300x183.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/06/Electricity-Purchased-in-G-DAM-Through-Power-Exchanges-in-Q4-2023-MUs-2000x1220.png 2000w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/06/Electricity-Purchased-in-G-DAM-Through-Power-Exchanges-in-Q4-2023-MUs-768x469.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/06/Electricity-Purchased-in-G-DAM-Through-Power-Exchanges-in-Q4-2023-MUs-1536x937.png 1536w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/06/Electricity-Purchased-in-G-DAM-Through-Power-Exchanges-in-Q4-2023-MUs-2048x1250.png 2048w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/06/Electricity-Purchased-in-G-DAM-Through-Power-Exchanges-in-Q4-2023-MUs-650x397.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/06/Electricity-Purchased-in-G-DAM-Through-Power-Exchanges-in-Q4-2023-MUs-624x381.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/06/Electricity-Purchased-in-G-DAM-Through-Power-Exchanges-in-Q4-2023-MUs-600x366.png 600w" sizes="(max-width: 2550px) 100vw, 2550px" /></a></p>
<p><strong>Volume vs. Price in the GDAM Market</strong></p>
<p>In GDAM, the highest trading was observed in December, and the highest weighted average price was realized in October. In Q4 2023, trading volume increased 14% quarter-over-quarter, while the highest weighted average price fell 1.5%.</p>
<p><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/06/Monthly-Volume-and-Price-of-Electricity-in-G-DAM-at-IEX.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-67208 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/06/Monthly-Volume-and-Price-of-Electricity-in-G-DAM-at-IEX.png" alt="Monthly Volume and Price of Electricity in G-DAM at IEX" width="2355" height="1473" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/06/Monthly-Volume-and-Price-of-Electricity-in-G-DAM-at-IEX.png 2355w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/06/Monthly-Volume-and-Price-of-Electricity-in-G-DAM-at-IEX-300x188.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/06/Monthly-Volume-and-Price-of-Electricity-in-G-DAM-at-IEX-2000x1251.png 2000w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/06/Monthly-Volume-and-Price-of-Electricity-in-G-DAM-at-IEX-768x480.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/06/Monthly-Volume-and-Price-of-Electricity-in-G-DAM-at-IEX-1536x961.png 1536w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/06/Monthly-Volume-and-Price-of-Electricity-in-G-DAM-at-IEX-2048x1281.png 2048w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/06/Monthly-Volume-and-Price-of-Electricity-in-G-DAM-at-IEX-650x407.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/06/Monthly-Volume-and-Price-of-Electricity-in-G-DAM-at-IEX-624x390.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/06/Monthly-Volume-and-Price-of-Electricity-in-G-DAM-at-IEX-600x375.png 600w" sizes="(max-width: 2355px) 100vw, 2355px" /></a></p>
<p>The Indian Energy Exchange (<a href="https://www.iexindia.com/Default.aspx" target="_blank" rel="noopener">IEX</a>) traded green energy in the GDAM at a weighted average price of ₹6.37 (~$0.0766)/kWh in October, ₹4.69 (~$0.0564)/kWh in November, and ₹4.86 (~$0.0584)/kWh in December.</p>
<p>Mercom India’s <a href="https://www.mercomindia.com/product/q1-2024-mercom-india-solar-open-access-market-report" target="_blank" rel="noopener">Q1 2024 Solar Open Access Market</a> Report provides an in-depth analysis of the green market segment and state-wise data on energy traded.</p>


Adani Hybrid Energy Sold the Most Power in Green Day Ahead Market in Q4 2023


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					</table><p><a href="https://www.tatapowersolar.com/" target="_blank" rel="noopener">Tata Power Solar</a>,<a href="https://amplussolar.com/" target="_blank" rel="noopener"> Amplus Solar</a>, <a href="https://roofsol.com/" target="_blank" rel="noopener">Roofsol Energy</a>, <a href="https://www.havells.com/#gref" target="_blank" rel="noopener">Havells India</a>, and <a href="https://www.mahindrasolarize.com/" target="_blank" rel="noopener">Mahindra Solarize</a> were the top rooftop solar companies in India during the calendar year (CY) 2023, according to Mercom’s <a href="https://www.mercomindia.com/product/mercoms-india-solar-market-leaderboard-2024-market-shares-and-profiles" target="_blank" rel="noopener">India Solar Market Leaderboard 2024</a>.</p>
<p>India added 1.7 GW of rooftop solar capacity in CY 2023, according to the <a href="https://www.mercomindia.com/product/rooftop-solar-market-report-q4-2023" target="_blank" rel="noopener">2023 Q4 &amp; Annual Mercom India Rooftop Solar Market Report</a>. As of December 2023, the country’s cumulative rooftop solar installations reached 10.5 GW.</p>
<p>Tata Power Solar led the annual capacity additions, accounting for 26.2% of the installations. Amplus Solar and Roofsol Energy ranked second and third, accounting for 7.9% and 4% of yearly installations, respectively. Havells India and Mahindra Solarize rounded off the top five with 3.9% and 2.8%, respectively.</p>
<p>These five companies accounted for 44.9% of the market share in 2023.</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-66220 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Picture1wqwq.png" alt="Leading Solar Installers" width="857" height="560" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Picture1wqwq.png 857w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Picture1wqwq-300x196.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Picture1wqwq-768x502.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Picture1wqwq-650x425.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Picture1wqwq-624x408.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Picture1wqwq-600x392.png 600w" sizes="(max-width: 857px) 100vw, 857px" /></p>
<p>Tata Power Solar, a subsidiary of Tata Power Company, remained the top rooftop solar installer. As of December 2023, the company’s cumulative installed rooftop solar capacity stood at nearly 2 GW. The company’s pan-India distribution network, partnerships for rooftop solar system installations, financing, and a streamlined project supply chain have helped drive the capacity additions. During the year, the company partnered with <a href="http://www.ecofy.co.in/" target="_blank" rel="noopener">Ecofy</a> and signed a memorandum of understanding with the Small Industries Development Bank of India (<a href="https://www.sidbi.in/en/" target="_blank" rel="noopener">SIDBI</a>) to offer easy financing options for rooftop solar systems.</p>
<p>Amplus Solar, a Gentari Group member, owns and manages a portfolio (operational and under construction) of over 1.9 GW distributed solar assets with more than 650 projects spread over 24 states across India. The company’s cumulative installed rooftop solar capacity stood at 533 MW as of December 2023. Amplus Solar announced a partnership with <a href="https://creditfair.in/" target="_blank" rel="noopener">Credit Fair</a> to offer collateral-free rooftop solar financing solutions for individuals, residential welfare, and trust associations in October 2023.</p>
<p>Roofsol Energy has over 300 solar projects in India rooftop solar installations stood at 280 MW.</p>
<p>Mercom’s India Solar Market Leaderboard report covers the market landscape across the entire supply chain. For the detailed and comprehensive report, <a href="https://www.mercomindia.com/product/mercoms-india-solar-market-leaderboard-2024-market-shares-and-profiles" target="_blank" rel="noopener">click here</a>.</p>
<p>A complete list of the solar rooftop installers and their market share is available through Mercom’s<a href="https://mercomindia.com/product/mercoms-india-solar-market-share-tracker/" target="_blank" rel="noopener"> India Solar Market Share Tracker</a>.</p>


Tata Power Solar, Amplus and Roofsol: Top Rooftop Solar Installers in 2023


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					</table><p>India generated approximately 32 billion units (BU) of solar power in the first quarter (Q1) of the calendar year (CY) 2024, an 8.8% year-over-year (YoY) increase.</p>
<p>The country&#8217;s solar energy generation has steadily <a href="https://www.mercomindia.com/indias-solar-power-despite-lower-capacity-additions" target="_blank" rel="noopener">increased</a> over the years with the capacity additions.</p>
<p>Rajasthan, Karnataka, and Tamil Nadu were the top states for solar power generation. Rajasthan witnessed the highest solar generation with 10.1 BU, followed by Karnataka and Tamil Nadu with 4.3 BU and 3.9 BU, respectively.</p>
<p><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Solar-Generation-Q1-2024.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-66176 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Solar-Generation-Q1-2024.png" alt="Solar Generation Q1 2024" width="903" height="527" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Solar-Generation-Q1-2024.png 903w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Solar-Generation-Q1-2024-300x175.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Solar-Generation-Q1-2024-768x448.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Solar-Generation-Q1-2024-650x379.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Solar-Generation-Q1-2024-624x364.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Solar-Generation-Q1-2024-600x350.png 600w" sizes="(max-width: 903px) 100vw, 903px" /></a></p>
<p>The generation was up by 18.8% quarter-over-quarter (QoQ) from 26.6 BU.</p>
<p>Solar generation in Rajasthan, Karnataka, and Tamil Nadu was up 17.4%, 18.7%, and 20% QoQ, respectively, due to an increase in installed solar capacity and the early onset of the summer.</p>
<p>Solar power accounted for 18.5% of India&#8217;s total installed power capacity and 42.9% of the installed renewable capacity as of March 2024, according to data from the Central Electricity Authority (<a href="https://cea.nic.in/?lang=en" target="_blank" rel="noopener">CEA</a>), Ministry of New and Renewable Energy (<a href="https://mnre.gov.in/" target="_blank" rel="noopener">MNRE</a>), and Mercom&#8217;s <a href="https://mercomindia.com/product/india-solar-project-tracker/" target="_blank" rel="noopener">India Solar Project Tracker</a>. The share of solar rose from 15.2% of the total power capacity and 37.4% of the installed renewable energy capacity by the end of Q4 2023.</p>
<p>The southern region generated the highest amount of solar power during the quarter, with 12.1 BU, accounting for 38.3%, followed by the northern region with 11.8 BU and the western region with 7.3 BU, accounting for 37.3% and 23.1%, respectively. The eastern and northeastern regions accounted for 1% and 0.3%, respectively.</p>
<p>To encourage project developers to add capacities, the Ministry of Power (MoP) <a href="https://www.mercomindia.com/delays-in-power-supply-projects-wont-face-penalties" target="_blank" rel="noopener">amended</a> the guidelines to the tariff-based competitive bidding process for the procurement of firm and dispatchable renewable power from grid-connected solar, wind, wind-solar hybrid, and renewable energy projects with energy storage in February 2024.</p>
<p>During the month, the Ministry also <a href="https://www.mercomindia.com/central-pool-commence-operations" target="_blank" rel="noopener">notified</a> the start of the central pools for solar power and solar-wind hybrid power on February 15, 2024. The Ministry <a href="https://www.mercomindia.com/grid-india-procedure-uniform-renewable-energy-tariff" target="_blank" rel="noopener">issued</a> a procedure for implementing renewable energy pools in October 2023 to encourage renewable energy offtake by distribution companies, stimulating growth in the sector.</p>
<p>Subscribe to Mercom&#8217;s <a href="https://mercomindia.com/product/india-solar-project-tracker/" target="_blank" rel="noopener">India Solar Project Tracker</a> to access the most comprehensive database of large-scale solar projects covering commissioned and under-development projects from the beginning of the National Solar Mission.</p>


Solar Power Generation in India Rises 8.8% YoY to 32 BU in Q1 2024


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					</table><p>India generated around 113.4 billion units (BU) of solar power in the calendar year (CY) 2023, a 19.18% increase from 95.15 BU generated in 2022, according to the recent data published by the Central Electricity Authority (<a href="https://mercomindia.com/product/india-solar-project-tracker/" target="_blank" rel="noopener">CEA</a>).</p>
<p>Solar generation has grown steadily since 2019. Consistent solar capacity additions throughout 2023 have supported the increase in generation during the year.</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-66164 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/1-3.png" alt="" width="934" height="607" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/1-3.png 934w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/1-3-300x195.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/1-3-768x499.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/1-3-650x422.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/1-3-624x406.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/1-3-600x390.png 600w" sizes="(max-width: 934px) 100vw, 934px" /></p>
<p>Solar power generation during the fourth quarter (Q4) of 2023 was 26.64 BU, an increase of 6.9% year-over-year (YoY) from 24.91 BU.</p>
<p>The generation was down by 1.3% quarter-over-quarter (QoQ) from 26.98 BU.</p>
<p>The northern region generated the highest amount of solar power during the quarter, with 10.4 BU, accounting for 38.9%, followed by the southern region with 9.93 BU and the western region with 5.9 BU, accounting for 37.3% and 22.3%, respectively.</p>
<p>The eastern and northeastern regions accounted for 1.1% and 0.3%, respectively.</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-66169 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/3.png" alt="" width="940" height="580" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/3.png 940w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/3-300x185.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/3-768x474.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/3-650x401.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/3-624x385.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/3-600x370.png 600w" sizes="(max-width: 940px) 100vw, 940px" /></p>
<p>Rajasthan continues to be the highest solar power generating state with 8.6 BU, followed by Karnataka and Tamil Nadu with 3.6 BU and 3.3 BU, respectively.</p>
<p>Solar generation in Rajasthan fell by 9.6% QoQ, but in Karnataka and Tamil Nadu, it was up by 4.9% and 6.3%, respectively.</p>
<p>Rajasthan was the top state for utility-scale solar projects, with a cumulative installed capacity of ~16.7 GW at the end of Q3 2023. The state is home to about 28.2% of the country&#8217;s installed solar power capacity. Rajasthan is also the first state in India to surpass 10 GW of cumulative large-scale solar installations. Karnataka had the country&#8217;s second-largest operational utility-scale solar project portfolio, with 9.3 GW as of September 2023, representing 15.8%, according to <a href="https://mercomindia.com/product/india-solar-project-tracker/" target="_blank" rel="noopener">Mercom India Research</a>.</p>
<p>India&#8217;s installed renewable energy capacity, including large hydro projects, stood at 178.9 GW, accounting for a 42.3% share of the overall power capacity mix at the end of 2023, according to data from the Central Electricity Authority (<a href="https://mercomindia.com/product/india-solar-project-tracker/" target="_blank" rel="noopener">CEA</a>), Ministry of New and Renewable Energy (<a href="https://mercomindia.com/product/india-solar-project-tracker/" target="_blank" rel="noopener">MNRE</a>), and Mercom&#8217;s India Solar Project Tracker.</p>
<p>Solar power accounted for 16.8% of the total installed power capacity and 40.1% of the total installed renewable capacity, up from 39.3% in the previous quarter.</p>
<p>To accelerate solar capacity additions, MNRE <a href="https://www.mercomindia.com/government-bid-solar-wind-fy24" target="_blank" rel="noopener">issued</a> an agency-wise bidding calendar for 50 GW of renewable energy projects for the financial year 2023-24. Of this, 30 GW was to be bid in the first two quarters and 20 GW in the later quarters.</p>
<p>Mercom&#8217;s <a href="https://mercomindia.com/product/india-solar-project-tracker/" target="_blank" rel="noopener">India Solar Project Tracker</a> provides access to the most comprehensive database of large-scale solar projects covering commissioned and under-development projects.</p>


Author: Tarun Kothamasu

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