India’s solar energy capability touches 85 GW in June 2024 quarter

The Indian renewable vitality sector has added 4,4 GW of recent capability throughout Q1 of this fiscal.

Photo voltaic stays the mainstay of the renewable new capability addition and it added about 3.7 GW throughout Q1 of this fiscal, whereas the wind energy phase added 770 MW of recent capability. In the course of the first quarter of final fiscal, the wind vitality sector added a brand new capability of 1.1 GW, about 1/4th of the general new capability added to the grid in the course of the interval. 

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As of June 30, 2024, the entire grid-connected capability of renewables stood at 148 GW. Of this, the solar energy phase accounted for 85 GW, adopted by wind energy at 47 GW, and biomass at 1.4 GW. The small hydro phase accounted for five GW. 

Of the entire 85 of photo voltaic capability, ground-mounted photo voltaic capability accounted for 66.5 GW, whereas grid-collected photo voltaic rooftop accounted for about 13 GW. Hybrid initiatives and off-grid photo voltaic segments accounted for about 2.6 GW and three.4 GW respectively.

“Put in photo voltaic capability has elevated by 32x from 2.6 GW in 2014 to 85.5GW now. The expertise innovation and revolutionary market mechanisms have been instrumental in bringing the general prices down. Photo voltaic is now the most affordable type of vitality however is variable in nature, so India wants deployment of versatile technology sources for higher integration of renewable vitality, mentioned Vibhuti Garg, Director of South Asia, Institute for Power Economics and Monetary Evaluation (IEEFA).

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Additionally, whereas photo voltaic rooftop capability additionally elevated, the progress has been sluggish. India must introduce revolutionary monetary mechanisms as excessive upfront capital value is among the huge bottlenecks, he felt.

In June 2024, about 3,200 MW of wind-solar hybrid and 500 MW of utility-scale photo voltaic capability have been allotted to numerous renewable vitality builders. Additionally, Gensol Engineering secured GUVNL’s 250 MW/500 MWh standalone battery vitality storage programs in Gujarat, in response to JMK Analysis.