- JMK Research counts India to have installed 8.4 GW of new solar PV capacity during H1/2022
- Deployments were led by Rajasthan with 4.5 GW of the total, followed by 1.5 GW in Gujarat and 860 MW in Tamil Nadu
- Analysts expect the country to exit with about 20 GW solar in 2022, but expect it would need 27 GW solar annually to meet 500 GW non-fossil fuel based installed capacity target by 2030
India’s newly added solar PV capacity during H1/2022 grew 71% annually to 8.359 GW, according to JMK Research and Analytics, setting it on course to exit 2022 with some 20 GW installed, comprising 16.5 GW utility scale and 3.5 GW rooftop solar PV.
Between January 2022 and June 2022, Indian solar installations were led by Rajasthan with 4.5 GW, followed by Gujarat with 1.5 GW and Tamil Nadu with 860 MW.
The official government target under the National Solar Mission (NSM) is to reach 100 GW solar PV by the end of December 2022, divided as 60 GW utility scale and 40 GW rooftop solar. JMK analysts believe while utility scale target is likely to be about 97% achieved by the target date, it is rooftop solar that’s likely to fall short by 25 GW.
For India to meet its 500 GW non-fossil fuel based installed capacity target by 2030, with solar contributing 280 GW, JMK counts the country to need about 27 GW of annual solar installations.
And to reach this, there will need to be an overall development of all solar segments. “Considering the laggardness of rooftop solar market so far, it is highly imperative to have a greater focus on, and put more concerted efforts towards, the growth of this segment. Additionally, to mitigate supply chain risks, it is critical to enhance domestic solar manufacturing capabilities,” stated the analysts.
At the end of June 2022, India’s total installed renewable energy capacity had reached 114 GW including solar PV accounting for 51% of the total.
Recently the Indian Cabinet revised its Nationally Determined Contribution (NDC) to meet Paris Agreement objectives to aim for its non-fossil fuel based power generation capacity to account for 50% of the total by 2030, up from 40% earlier with a proper roadmap yet to be released (see Indian Cabinet Approves NDC For Paris Agreement).