India’s Solar Power Generation Rises by 38% YoY to 95.15 BU in 2022
Solar generation increased by 46% YoY to 24.91 BU in Q4 2022
India generated around 95.15 billion units (BU) of solar power in the calendar year (CY) 2022, a 38% increase compared to 68.77 BU generated last year.
Solar generation has seen continuous positive growth since 2018. The increase in overall solar power generation is due to new capacity additions during the year.
Solar power generation during the fourth quarter of 2022 was 24.91 BU, a rise of 46% year-over-year from 17.1 BU.
The generation was up by 10% quarter-over-quarter from 22.6 BU.
India’s installed renewable energy capacity, including large hydro projects, stood at 166.9 GW, accounting for a 40.75% share of the overall power capacity mix at the end of 2022, according to data from the Central Electricity Authority, Ministry of New and Renewable Energy, and Mercom’s India Solar Project Tracker.
Solar power accounted for 15% of the total installed power capacity and 37% of the total installed renewable capacity, up from 36.4% in the previous quarter.
As of August 2022, India had installed over 50 GW of utility-scale solar capacity, nearly reaching its goal of 60 GW by 2022. However, the country fell short in rooftop solar installations, having installed only 8.3 GW by the end of September, against a target of 40 GW by 2022.
Rajasthan was the top state for utility-scale solar projects, with a cumulative installed capacity of ~15 GW at the end of 2022. The state represented about 29% of the country’s solar power capacity. Rajasthan is also the first state in India to surpass 10 GW of cumulative large-scale solar installations.
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