Solar capacity installations in India increased by 59% year over year during the first half of 2022, per data from Mercom India Research. During the same period this year, 7.2 GW of solar capacity was built, compared to 4.5 GW in 2021.
On Thursday, August 18th, 2022, Mercom India, a research organization, published a report titled “Q2 2022 India Solar Market Update.” The data also shows that solar installations increased by 59% from April to June of 2021 to April to June of 2022, going from 2.4 GW to 3.9 GW.
There was an 18% increase in installations from Q1 to Q2 (2022), with Q1’s 3.3 GW capacity installation being followed by Q2’s 3.9 GW solar installations (2022)
Ten percent were installed on homes’ rooftops, while the other ninety percent were part of larger-scale initiatives.
In spite of supply bottlenecks and growing costs, India experienced its greatest quarter and the first half ever for solar, according to Raj Prabhu, CEO of Mercom Capital Group.
For solar energy, the second quarter of 2022 was particularly productive in the states of Rajasthan and Gujarat. In terms of percentage of installations, the former made up 53% while the latter made up 14%. The third-most installations (9%) were located in Maharashtra.
In addition to this, by the end of March 2022, Rajasthan had become the first state in the country to surpass 10 GW aggregate large-scale solar installations. Currently, the state is responsible for roughly 27 percent of all solar installations in the country.
The total installed solar capacity in India now stands at 57 gigawatts (GW). In addition, there is about 57 GW worth of utility-scale solar installations in the planning stages, and 37 GW worth of solar projects are currently waiting to be auctioned off.