India: 10GW of new PV installed in the first quarter set the highest quarterly installation record.
Release Time:
2024-06-24
According to data released by MercomIndiaResearch, in the first quarter of 2024, Indian solar energyPhotovoltaicInstalled capacity increased by 10GW, up nearly 400 percent year-on-year, up 414 percent from the fourth quarter of 2023, the highest single-quarter installation to date. Among them, large-scale solar installed capacity accounted for up to 9.7GW, including 1.8GW from open projects, and the remaining 300MW from rooftop projects.
Mercom attributed the strong growth to the commissioning of several delayed projects during the reporting period. Last year, these projects opted for an extension because of the high price of the components. In addition, a number of projects have been brought into production ahead of schedule to take advantage of the window of suspension of the Model and Manufacturer Approval List (ALMM).
In the first quarter of 2024, 25GW of photovoltaic projects in India were auctioned and 30.7GW of bidding plans were announced.
As of the end of March 2024, India's total installed solar PV capacity will reach 82GW, accounting for 18.5 percent of the country's total installed power capacity and 43 percent of the total installed renewable energy capacity. India's large-scale photovoltaic project reserves reached 143GW, and another 93GW project has been tendered or to be auctioned.
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