Solar’s Share in India’s Power Capacity Rose to 19% YoY in Q1 from 15.2%

Renewables accounted for 43.1% of the country’s power mix

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Solar power accounted for 18.5% of India’s total installed power capacity and 42.9% of the installed renewable capacity in the first quarter (Q1) of the calendar year (CY) 2024, up from 15.2% and 37.4% year-on-year (YoY), respectively.

India’s installed renewable energy capacity, including large hydro projects, stood at 190.6 GW, accounting for a 43.1% share of the overall power capacity mix at the end of Q1 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 total renewable energy share in the power mix increased from 179.5 GW, representing 42% of the overall power capacity mix, at the end of CY23.

India generated about 32 BU of solar power during the quarter.

Power Mix 2024 Chart

Large hydro accounted for 10.6% and wind 10.4% of the country’s overall installed power capacity at the end of March 2024.

Biomass and small hydro accounted for 2.3% and 1.1%.

Energy from conventional sources

As of March 2024, the installed capacity of conventional power sources stood at 251.4 GW, making up 56.9% of all installations, decreasing from 58% in the previous quarter.

Coal-based thermal power constituted 47.7%, gas 5.7%, nuclear 1.8%, lignite 1.5%, and diesel 0.13%.

Coal remained the top power source, with nearly 211 GW of thermal installations by the end of March 2024, increasing from 207.8 GW in the previous quarter.

A surge in power demand and ambitious renewable energy capacity targets have boosted capacity additions across the Indian power sector.

The Ministry of Coal, under its net-zero electricity consumption plan for coal/lignite public sector undertakings, has set a renewable energy target of 9 GW in the coal sector by 2030 from the present 1.75 GW. The ministry will also promote the deployment of rooftop and ground-mounted solar power projects across mining facilities.

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