India adds 7.2 GW Solar

According to Mercom India Research, in the first half of 2022, India witnessed a record 59% jump in solar capacity installations. In contrast to the 4.5 GW solar capacity added in the January-June period of 2021, 7.2 GW capacity was added in the same period this year.

Research firm Mercom India released their ‘Q2 2022 India Solar Market Update’ on thursday, 18th August 2022. As per the report, in the April-June period, solar installations rose by 59% as well, from 2.4 GW in 2021 to 3.9 GW in 2022.

As for the quarter-to-quarter increase, there was an 18% rise in installations– from 3.3 GW capacity installations in Q1 (2022) to 3.9 GW solar installations in Q2 (2022)

90% of the installations were through large-scale projects and 10% from rooftop solar installations.

“Even with mounting challenges from supply constraints and rising costs, India had its best quarter and first half ever for solar,” said Raj Prabhu, CEO of Mercom Capital Group.

In the second quarter of 2022, Rajasthan and Gujarat had the highest solar installations. The former accounted for 53% of the installations, while the latter accounted for 14%. Maharashtra stood at the number 3 spot and accounted for 9% of the installations.

Moreover, Rajasthan became the first state to cross 10 GW cumulative large-scale solar installations by the end of March 2022. The state now accounts for almost 27% of the nation’s solar installations.

Currently, India’s cumulative installed solar capacity is 57 GW. Moreover, over 57 GW of utility-scale solar projects are in pipeline, and 37 GW of solar projects are awaiting auction.

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Resource: Mercom India

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