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

Daily News Wrap-Up: Solar’s Share in India’s Power Capacity Rose to 19% YoY in Q1

2023 Solar Module Market Leaders: Jinko, LONGi, JA Solar, Waaree and Trina

East Central Railway Issues Empanelment Tender for 2 MW Rooftop Solar Projects

Hindustan Petroleum Floats EPC Tender for 300 MW of Solar Projects

SolarEdge’s Q1 2024 Net Loss Narrows to $108.6 Million

US May Impose Duties on Indian Aluminum Extrusions Used in Solar Mounting and Trackers

Relux Secures ₹2.5 Billion to Expand Hyper EV Charging Stations in South India

Waaree’s Q4 FY 2024 Profit Up 341% as EPC Segment Revenue Soars

Delhi Regulator Greenlights BSES Rajdhani’s Battery Energy Storage Project


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2024/05/amazon_polly_66172.mp3?version=1715669583">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</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>



					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2024/02/amazon_polly_63172.mp3?version=1715668339">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</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>


India’s Solar Power Generation Up 10% YoY in 2023 Despite Lower Capacity Additions

Author: Tarun Kothamasu

About Tarun Kothamasu

Get the most relevant India solar and clean energy news.

RECENT POSTS