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

Rajasthan, Karnataka, and Tamil Nadu led the quarter's solar power generation


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.

The country’s solar energy generation has steadily increased over the years with the capacity additions.

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.

Solar Generation Q1 2024

The generation was up by 18.8% quarter-over-quarter (QoQ) from 26.6 BU.

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.

Solar power accounted for 18.5% of India’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 (CEA), Ministry of New and Renewable Energy (MNRE), and Mercom’s India Solar Project Tracker. 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.

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.

To encourage project developers to add capacities, the Ministry of Power (MoP) amended 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.

During the month, the Ministry also notified the start of the central pools for solar power and solar-wind hybrid power on February 15, 2024. The Ministry issued a procedure for implementing renewable energy pools in October 2023 to encourage renewable energy offtake by distribution companies, stimulating growth in the sector.

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