Solar energy installations fall by 19 per cent in January to June this year: Report, ET EnergyWorld

New Delhi: India added 6,794 MW solar capacity from January 2023 till June 2023, which was about 19 per cent lower compared to the same period in the previous year, according to a latest report released by JMK Research on Tuesday.

It, however, added that within the same period, India added 1,878 MW wind capacity, which showed improvement with about 166 per cent higher installations.

In terms of cumulative installations till June 2023, according to the Ministry of New and Renewable Energy, India’s renewable energy installed capacity reached 129.6 GW. Solar energy contributes about 54 per cent share of the total RE segment, an increase of 3 percentage points in the past 12 months,” said the report.

It added that in terms of state-wise solar installations, in the first half of 2023, Gujarat was leading with 1.6 GW capacity.

The installed capacity in wind in H1 2023 has already surpassed overall calendar year 2022 installation figures. Removal of reverse auctions and declaration of annual 50 GW tendering trajectory by the government will further reinvigorate the wind sector,” it said.

Within solar, the rooftop segment also showed significant uptake in installations, added the report. It said that in H1 2023, about 2,294 MW of rooftop solar capacity was added, which was higher than the entire installations in this segment in CY2022.

“In H2 2023, additional 1.5 GW of wind is likely to be added while in solar, additional 7-8 GW is expected. Significant fall in solar module prices over the last few months as well as relaxation in ALMM implementation until FY2024 will be the key drivers to augment solar capacity addition in the second half of the year,” according to the report.

It added that the solar sector’s contribution to India’s national target of 500 GW non-fossil fuel capacity by 2030 is about 280 GW. Hence, an annual augmentation of about 30 GW of solar capacity will be required.

  • Published on Jul 25, 2023 at 02:34 PM IST

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