India Adds Over 7 GW of Solar in a Record First Half of 2022
The solar sector witnessed the highest ever quarterly and half-yearly solar capacity addition
August 18, 2022
India installed over 3.9 GW of solar capacity in the second quarter (Q2) of the calendar year (CY) 2022, an increase of 18% compared to 3.3 GW installed in the previous quarter. On a year-over-year (YoY) basis, installations rose by 59% from the 2.4 GW installed in the same period last year.
The latest installation data was revealed in Mercom’s newly released report – Q2 2022 India Solar Market Update.
Large-scale solar accounted for 90% of the installations, and rooftop accounted for the remaining 10% during the reporting period.
In Q2 2022, India installed 3.5 GW of large-scale solar, a quarter-over-quarter (QoQ) increase of around 23% and an 82% YoY increase.
In the first half (1H) of 2022, India added around 7.2 GW of solar, a record 59% increase compared to 4.5 GW installed during the same period last year.
India’s cumulative installed solar capacity now stands at 57 GW.
The country has a utility-scale projects development pipeline of over 57 GW, with another 37 GW of tendered projects awaiting auction.
Rajasthan became the first state to cross 10 GW of cumulative large-scale solar installations at the end of March 2022. Cumulative large-scale solar installations in Rajasthan reached almost 13 GW as of June 2022. The state accounts for almost 27% of the total installations in the country.
Rajasthan and Gujarat were the top states for large-scale solar installations during the quarter, accounting for 53% and 14% of installations, respectively, followed by Maharashtra with 9%.
There is still a lot of ambiguity around projects impacted by the Great Indian Bustard (GIB). To protect the critically endangered bird, the Supreme Court said during the quarter that transmission lines running through the priority areas of the GIB need to have bird diverters installed before July 20, 2022.
A Committee formed to review cases has approved only two of the eight applications received, and the remaining are still being scrutinized. This process is taking time and will likely affect project development this year.
“Even with mounting challenges from supply constraints and rising costs, India had its best quarter and first half ever for solar. Unfortunately, what could have been a spectacular year is now filled with uncertainty and possible delays due to the Supreme Court Ruling in the Great Indian Bustard case in Rajasthan. Still, India is on a path to its best year in solar,” said Raj Prabhu, CEO of Mercom Capital Group.
According to the report, while 2021 was the most significant year for the Indian solar industry, with over 10 GW of installations, 2022 is slated to be an even stronger year.
Key Highlights from Mercom India Research’s Q2 2022 India Solar Market Update:
- In 1H 2022, India added 7.2 GW of solar capacity, a 59% increase compared to 4.5 GW installed in 1H 2021.
- Large-scale solar accounted for 90% of the installations, and rooftop solar for the remaining 10%.
- India’s cumulative installed solar capacity now stands at 57 GW.
- In 1H 2022, renewable energy sources (including large hydro) accounted for about 90% of the new power capacity additions.
- Solar accounted for 77.9% of the new power capacity added during the quarter.
- In Q2 2022, Rajasthan and Maharashtra were the top states for solar installations.
- Q2 2022 was the best quarter for solar to date in India
Mercom’s India Solar Q2 2022 report is 126 pages and covers all facets of India’s solar market. For the complete report, visit: https://mercomindia.com/product/q2-2022-india-solar-market-update
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