India generated around 22 billion units of solar power in the first quarter (Q1) of the financial year (FY) 2022, a 30% quarter-over-quarter (QoQ) increase compared to 17 billion units generated in Q4 2021.
The solar power produced was a 27% growth year-over-year (YoY) against 17.5 billion units in Q1 2021. Higher insolation and new capacity installations contributed to the boost in solar generation. Overall renewable energy generation reached 42 billion units in Q1 2022, with solar power contributing 53%. During the quarter, Rajasthan, Karnataka, and Andhra Pradesh were the top three states for solar power generation. According to Mercom India Research, in February 2022, India’s cumulative solar installations reached the 50 GW milestone. Solar generation stood at 73.48 billion units for the financial year (FY) 2021-22, a 22% increase YoY. For April to December 2021, the cumulative solar generation raised by 8.1 million units due to revised generation numbers received from Goa. The Southern region accounted for 47.9% of the total solar generation, followed by the Northern region with 31% in FY 2021-22. The Western region contributed 19.7%, and the Eastern and North-Eastern regions 1.4% towards the total solar generation. In FY22, the top four states, Rajasthan, Karnataka, Andhra Pradesh, and Tamil Nadu, accounted for 62% of the total solar generation. India’s installed renewable energy capacity stood at 155.26 GW, including large hydro projects, accounting for a 39% share of the overall power mix at the end of Q1 of 2022, as per the data from the Central Electricity Authority (CEA), Ministry of New and Renewable Energy, and Mercom’s India Solar Project Tracker. Solar power accounted for 13.22% of India’s total installed power capacity at the end of Q1 2022, and 34% of the total installed renewable capacity in Q1 2022. On April 26, 2022, the all-India peak power demand touched an all-time high of 201.066 GW, exceeding the peak power demand of 200.539 GW met on July 7, 2021. The increasing power demand reflects the pace of economic growth in the country, as per the Ministry of Power release. India added 10 GW of solar capacity in 2021, a 210% YoY rise compared to 3.2 GW installed in 2020, according to Mercom’s Q4 2021 India Solar Market Update Report. Image Source
