India's Solar Surge: Record-Breaking Installations in 2024

India's solar capacity dramatically increased to 25.2 GW in 2024, driven by the completion of delayed projects. Large-scale projects dominated the additions. Despite challenges like transmission issues and rising costs, solar power contributed significantly to India’s total new power capacity, highlighting the need for supportive policies.

India's solar capacity surged impressively in 2024, reaching a remarkable 25.2 gigawatts, as developers successfully tackled delayed projects. This substantial growth was highlighted in a recent Mercom Capital report, reflecting a more than twofold increase from 2023's 8.3 GW addition.

According to the report, large-scale solar projects, including those under the open access model, accounted for a commanding 87 percent of this new capacity, with rooftop solar making up the remaining 13 percent. Notably, installations in states like Rajasthan, Gujarat, and Maharashtra spearheaded this expansion.

Raj Prabhu, CEO of Mercom Capital Group, emphasized that while 2024 marked a record year for India's solar sector, potential growth was hampered by transmission challenges and supply chain delays. Looking ahead, India needs stable policies to align local manufacturing with seamless project development to meet its 2030 energy goals.

(With inputs from agencies.)