Market trends

India Added 8.4 GW of Solar Capacity in the First Half of 2022

India Added 8.4 GW of Solar Capacity in the First Half of 2022 From January 2022 till June 2022, about 8,359 MW solar capacity was added in India. This is about 71% higher compared to the same period in the previous year. In terms of cumulative installations till June 2022, according to the Ministry of New and Renewable Energy (MNRE), India’s renewable energy (RE) installed capacity reached 114 GW. Solar energy contributes approximately 51% share of the total RE segment,…

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PM-KUSUM Scheme Tender Issuance Fast-tracks in H1 2022; However, Capacity Allocation Remains A Laggard

PM-KUSUM Scheme Tender Issuance Fast-tracks in H1 2022; However, Capacity Allocation Remains A Laggard In 2019, the Indian government launched a national scheme for farmers with the intention of improving their energy security and de-dieselise the agriculture sector. The scheme is called Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyaan (PM-KUSUM). The KUSUM has a target of setting up 30.8 GW of solar power for agriculture by 2022, which is being undertaken through three scheme components – Component A: For…

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In April 2022, Price of GTAM-traded Power Surged By 2.5–2.7X Year-on-Year

In April 2022, Price of GTAM-traded Power Surged By 2.5–2.7X Year-on-Year The exchange-based renewable energy (RE) market (or green power market) of India is growing at an encouraging pace. This market can be categorized into two sub-markets – green day-ahead market (GDAM)[1] and green term ahead market (GTAM)[2]. The green power market (GDAM+GTAM) came into existence with the introduction of GTAM in August 21, 2020. As of April 2022, the green power market traded 7,660 million units (MU) of renewable…

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India Records 2.6X Y-o-Y Surge in Solar Installation in FY2021-22

India Records 2.6X Y-o-Y Surge in Solar Installation in FY2021-22 In the context of domestic solar installation, India has just passed through a record-breaking financial year. FY2021-22 saw 13.9 GW of solar installation in India. It is the first time when annual (FY) solar installation of India crossed 10 GW capacity. The fact that FY2022 solar installation grew by 2.6 times over that of the previous year is undoubtedly impressive. Also noteworthy is that solar capacity addition of FY2022 alone…

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