India Installed 8.8 GW New Solar In 9M/2021

• JMK Research counts 280% annual increase in the capacity of solar energy in India during 9M/2021
• Rooftop solar additions were a total of 2.068 GW, having gone up 134% YoY, led by Gujarat
• In 2021, if there is no 3^rd wave of COVID-19 India could end up adding close to 11 GW of utility scale solar and 3 GW of rooftop solar

India's new solar PV capacity installations during 9M/2021 added up to 8.81 GW, around 280% higher on annual basis, according to market intelligence firm JMK Research & Analytics. Of the cumulative renewable energy capacity installed till September 30, 2021—101.53 GW—solar energy accounted for close to 46% share.

In comparison, 101% more capacity with 1.246 GW of wind energy capacity was added during the reporting period, and accounts for 39% share in the national aggregate capacity.

As per the analysts, this increase was thanks mainly due to commissioning of projects that were delayed due to COVID-19 related disruptions.

During the period, around 2.068 GW of rooftop solar was also added that went up from 883 MW added in 9M/2020, representing an annual increase of 134% with Gujarat as the leading state in this segment having installed 531 MW. This is almost 26% of the total, followed by 501 MW installed in Maharashtra, and 181 MW by Uttarakhand.

"The "Surya Urja Rooftop Yojana – Gujarat" scheme is the key reason for this significant capacity addition in Gujarat that aims installation of solar rooftops for 8 lakh residential consumers by March 2022. Under this scheme, 40% of state subsidy is provided on installation of systems up to 3 kW and 20% subsidy for 3 kW- 10 kW system size," explained JMK analysts.

If all goes well, that is if there is no devastating 3^rd wave of COVID-19 pandemic in November or December 2021 as floats the rumor, analysts see it 'extremely likely' for India to exit 2021 with close to 11 GW of new utility scale solar with 3 GW of rooftop solar capacity coming online.