In current years, India has skilled a outstanding surge in photo voltaic vitality adoption, pushed by declining prices and advances in photovoltaic (PV) know-how. As of June 2024, India’s put in photo voltaic PV capability stands at a formidable 85,474.31 MW, representing greater than half of its renewable vitality capability (excluding giant hydro).
In the primary quarter (Q1) of fiscal yr 2024-25 alone, India added greater than 3.66 GW of photo voltaic PV capability, underscoring its dedication to increasing its renewable vitality portfolio. This quarter noticed a complete set up of greater than 4.44 GW of renewable vitality capability, with photo voltaic contributing 82.4% of this determine.
An necessary new growth is the reinstatement of the Approved Models and Manufacturers of Solar Photovoltaic Modules (ALMM) Order by the Ministry of New and Renewable Energy (MNRE) from April 1, 2024. This step goals to make sure prime quality and dependable photo voltaic installations, particularly in tasks sponsored by the federal government.
India’s complete renewable capability presently stands at a formidable 148.084 GW, with photo voltaic and wind energy collectively accounting for almost 89.23% of this capability. This highlights India’s main position within the international adoption of renewable vitality.
Solar vitality performs an necessary position in India’s sustainable growth objectives and its efforts to fight local weather change, providing decrease greenhouse fuel emissions and considerably lowering the nation’s carbon footprint. . Ground-mounted photo voltaic installations alone contributed 66.52 GW of put in capability, with a further 2.59 GW beneath Hybrid Solar Components.
A notable development is the decentralization of energy technology by rooftop photo voltaic installations. Currently, India boasts 12.92 GW of photo voltaic capability put in on rooftops of houses, companies, and industrial buildings. This not solely improves vitality safety but additionally empowers people and companies to contribute to cleaner vitality manufacturing.
In rural areas with restricted entry to electrical energy, solar energy could make a distinction. Off-grid photo voltaic options equivalent to photo voltaic lanterns and microgrids, which quantity to three.44 GW, are necessary in offering electrical energy to distant communities and enhancing dwelling requirements.
India’s success in photo voltaic vitality could be attributed to a mixture of presidency initiatives, technological advances, and elevated consciousness of the advantages of renewable vitality. With photo voltaic vitality representing over 57.72% of India’s complete renewable put in capability, the nation has emerged as a worldwide chief within the sustainability and clear vitality transition.
Wind energy has additionally seen vital progress in India, surpassing the put in capability of 46,656.37 MW by June 2024, with a further 769.86 MW added in Q1 of FY 2024-25. As India continues to pioneer solar energy, it’s poised to play a key position in shaping the worldwide renewable vitality panorama and inspiring different international locations to embrace the large potential of photo voltaic vitality.
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