In the first half of 2022, India added 8.359 GW of solar energy installed capacity, an increase of 71% over the same period last year. It is predicted that India will install about 20 GW of solar energy this year, including 16.5 GW of large-scale ground photovoltaic power stations and 3.5 GW of roof photovoltaic power stations.
Among them, the installed capacity of photovoltaic in Rajasthan reached 4.5GW in the first half of the year, accounting for 54% of the total. The second is Gujarat, with photovoltaic installed capacity of 1.5 GW in the first half of the year and 860MW in Tamil Nadu.
According to the data of the Ministry of new and renewable energy of India (MNRE), by the end of June, India had installed 114 GW of renewable energy capacity. Solar energy accounted for 51% of all renewable energy capacity, wind energy accounted for 36%, biomass energy accounted for 9%, and small hydropower accounted for 4%.
"The country's growth in utility scale is commendable and is expected to achieve 97% of its 60 GW target," said JMK research. "On the other hand, in the rooftop solar sector, it is expected to achieve a quarter of its target of 40 GW. By December 2022, this part is expected to be 25 GW lower than its target."
According to Indian power minister RK Singh, as of June 30, 2022, India has installed 57.7GW of solar power generation capacity and 48.7G of photovoltaic projects under construction, and 16.7GW of photovoltaic projects are under bidding. Rajasthan ranks first in terms of photovoltaic installed capacity, accounting for 25% (14.4GW) of the country's accumulated photovoltaic installed capacity; Followed by Gujarat (7.8GW) and Karnataka (7.6GW).
It is reported that most of the above photovoltaic projects are installed by private sector developers. Considering the specification cost of 450 million Indian rupees (US $568063) per megawatt, the installation of 57.7GW of cumulative solar capacity has generated an expenditure of approximately 260 trillion Indian rupees (US $32.821 billion).
This year, India has again increased its investment in renewable energy. The Ministry of new energy and renewable energy has allocated US $332 million for its solar energy plan from 2021 to 2022, US $234 million from 2020 to 2021 and US $201 million from 2019 to 2020.
The National Institute of Solar Energy, a national institution, predicts that India has a solar capacity potential of about 750 GWP based on land availability and solar radiation.