India’s renewable energy capacity saw substantial growth in the first nine months of 2024, adding 20.1 gigawatts (GW) of solar and wind power, according to a recent report by JMK Research. This marks a significant leap for the country, as solar energy alone accounted for 17,444 megawatts (MW), a 105.8% year-on-year increase, while wind energy added 2,627 MW, up 14.8% from last year.
Record Growth in Solar Capacity
The report highlights that the solar sector’s growth is unprecedented, with total capacity additions in 2024 surpassing previous years. Utility-scale solar projects contributed 13.2 GW, reflecting a 160.9% increase compared to last year, largely driven by the government’s commitment to issuing 50 GW in renewable energy bids annually over the next five years. Rajasthan led the new installations with 4.96 GW, followed by Gujarat with 3.13 GW and Tamil Nadu with 1.57 GW.
Rooftop and Off-Grid Solar Segments See Steady Gains
The rooftop solar segment recorded a 7.3% increase, adding 3.2 GW, bolstered by the PM Surya Ghar: Muft Bijli Yojana. Additionally, off-grid solar capacity saw significant improvements, with 1,035 MW added in the first nine months—a two-and-a-half-fold increase over the previous year’s installations.
Wind Energy Expands in Key States
India’s wind sector also saw growth, with 2.6 GW of new capacity added. Gujarat led with 985 MW, followed closely by Karnataka with 968 MW and Tamil Nadu with 613 MW, collectively representing 97% of the new wind installations during this period.
JMK Research projects that India’s solar installations will exceed 20 GW in 2024, setting a record, while wind installations are expected to surpass the 3 GW mark. This rapid expansion reaffirms India’s role as a global leader in renewable energy as the country moves closer to achieving its ambitious green energy targets.
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