Solar Generation Jumps 18% YoY to 51.67 BU in 9M 2021

However, solar generation declined 11.6% to 16.03 BU in Q3 2021


India generated around 51.67 BU of solar power in the first nine months (9M) of the calendar year (CY) 2021, an 18% year-over-year (YoY) increase compared to 43.97 BU in the same period last year.

India: Solar Electricity Generation 9M 2017 - 9M 2021 (MU)

In the third quarter (Q3) of CY 2021, solar generation stood at 16.03 BU compared to 18.12 BU generated in the previous quarter. However, solar generation increased 23% YoY compared to 12.99 BU in Q3 2020.

India: Solar Electricity Generation by Quarter (MU)

After a dip in Q3 last year, solar generation has been on an uptick despite the impact of the Covid-19 pandemic. However, solar generation declined 11.6% quarter-over-quarter (QoQ) in Q3 2021.

In Q1 2021, the country generated about 17.5 BU of solar energy, a 23% increase compared to 14.2 BU in the previous quarter. Solar generation rose by 21% and stood at 60.4 BU in the financial year (FY) 2020-21 from 50.1 BU in FY 2019-20.

According to Mercom’s Q2 2021 India Solar Market Update, India added 4,578 MW of solar capacity in the first half of 2021, growing 251% over the same period last year, surpassing installations in all of 2020. The cumulative solar installations at the end of Q2 2021 reached 43.6 GW.

According to data from the Central Energy Authority and Mercom’s India Solar Project Tracker, India’s installed renewable energy (including large hydro projects) capacity stood at 147.8 GW, accounting for a share of 38.% in the overall power mix at the end of Q3 2021. Solar installations increased, accounting for 11.8% of the total installed capacity compared to 11.3% in Q2 2021.

India reduced its peak power deficit from 16.6% in FY 2008 to 0.4% in FY 2021, backed by several policies and infrastructure interventions, according to the Ministry of Power. The peak power deficit had, however, seen a spike reaching 1.2% in October this year. The ministry attributed the spike to the annual post-monsoon pressure on power output. The situation was likely to normalize by the end of the year.