Solar Accounts for 16% of the Total Installed Power Capacity in Q3 2023
Renewables accounted for a 42% share of the overall power capacity mix
Solar power accounted for 16.44% of the total installed power capacity and 39.4% of the total installed renewable capacity in the second quarter (Q2) of 2023, marginally up from 15.9% and 38.4% in the previous quarter.
India’s installed renewable energy capacity, including large hydropower projects, stood at 177.1 GW, making up for 41.8% of the overall power capacity at the end of the quarter, according to data from the Central Electricity Authority (CEA), Ministry of New and Renewable Energy (MNRE), and Mercom’s India Solar Project Tracker.
The renewable energy share in the cumulative power capacity increased from 173.4 GW to 177.1 GW quarter-over-quarter (QoQ), representing 41.8 % of the overall power capacity mix.
Large hydropower was nearly 11.1% of the total installed power capacity as of September 2023, and wind installations accounted for 10.4%.
Biomass and small hydropower represented 2.6% and 1.2% of the total installed power capacity as of Q3 2023.
Energy from conventional sources
As of September 2023, the total installed power capacity from conventional sources stood at about 246.8 GW, making up 58.2% of all installations. This was a slight decrease from 58.58% during the previous quarter.
Coal remained the top power source, with 207 GW by the end of September 2023, a slight increase from 205.9 GW in the previous quarter.
In October this year, the Ministry of Power proposed slashing the Renewable Generation Obligation (RGO) for coal or lignite-based power generating stations to a minimum of 6-10% from the previous 40%. The ministry issued a draft notification on RGO to establish a minimum requirement for electricity generation from renewable sources for coal or lignite-based power generating stations.
Last year, the power ministry set the trajectory for replacing thermal power with renewables by the financial year 2025-26 to achieve 500 GW of non-fossil fuel-based capacity by 2030.