India's solar power generation increased by nearly 18 per cent year-over-year (YoY), reaching 133.8 billion units (BU) in 2024, up from 113.4 BU in 2023, as reported by the Central Electricity Authority (CEA). The country saw significant growth in solar capacity during the first nine months (9M) of 2024, adding 16.4 GW, a 167 per cent rise compared to 6.2 GW in the same period the previous year. This surge in capacity was driven by the commissioning of several projects that had previously been delayed, thanks to a decline in module prices. As a result, the 9M 2024 capacity additions exceeded both the first nine months and the annual capacity additions of previous years, contributing to the increase in solar generation.

In the fourth quarter (Q4) of 2024, solar power generation reached 34.2 BU, marking a 28.4 per cent Y-o-Y growth from 26.6 BU. The northern region led in solar generation, contributing 13.8 BU, or 40.3 per cent, followed by the southern region with 10.9 BU (32 per cent) and the western region with 9.04 BU (26.4 per cent). The eastern and northeastern regions contributed much smaller amounts at 362.5 BU and 85.9 BU, respectively.

Rajasthan continued to be India's top solar power producer, generating 11.8 BU, with Gujarat and Karnataka following at 4.7 BU and 3.7 BU, respectively. Solar generation in these states increased by 3.7 per cent, 20 per cent, and 11.1 per cent, respectively. By the end of Q3 2024, Rajasthan had the highest installed solar capacity in India, with 21.7 GW, representing 24.4 per cent of the country's total solar capacity. Gujarat and Karnataka followed with 14.8 GW and 10.5 GW, respectively.

India's total solar installed capacity grew by 10.5 per cent quarter-over-quarter (Q-o-Q) and 57.2% Y-o-Y by December 2024. Solar photovoltaic projects now represent 21.2% of India's total installed power capacity.

News source: Mercom India