Annual India Solar Report Card – CY2024
Installation trends
- As of December 31, 2024, 79.2 about GW of utility-scale solar capacity has been commissioned in India, while another 71.8 GW is under pipeline (where auctions are completed).
- As of December 31, 2024, Rajasthan has maximum installed solar capacity of ~25 GW followed by Gujarat (11.9 GW) and Karnataka (9.8 GW).
- In CY2024, about 18.5 GW of utility-scale solar capacity and another 4.59 GW of rooftop solar capacity were added in India.
- In CY2024, the top three states with maximum installed solar capacity were Rajasthan (7.5 GW), Gujarat (5.1 GW), and Tamil Nadu (1.4 GW).
- For next year i.e. CY2025, about 22.8 GW of new utility-scale solar projects and 5.8 GW of rooftop/onsite solar projects are expected to be commissioned.
Annual Market shares- CY2024
- Modules: Waaree, Jinko and Longi were the top three module suppliers in India in CY2024. Chinese and international players’ solar PV module shipments dropped in 2024 due to the ALMM order, effective April 1,2024.
- Module Export: In CY2024, the top 3 players, Adani, First Solar and Waaree have exported significant capacities. First Solar has contributed solar modules exports of about 67% of their total production in CY2024.
- Inverters: Sungrow, Sineng, TBEA, FIMER were the top four inverter suppliers in India in CY2024.
- DISCOM PPA: Adani, ReNew and O2 Power were the top three project developers which have commissioned maximum utility-scale solar projects in India in CY2024.
- Private PPA (Open Access): Amplus, Brookfield and Tata Power were the top three developers that have commissioned maximum open access capacity in CY2024.
- Utility-Scale EPC Contractors: Jakson Green, Tata Power and Sterling & Wilson were the leading third-party EPC contractors for utility-scale solar projects in India in CY2024.
- Rooftop/Onsite model: Tata Power Solar, Mahindra Solarize and Amplus were the leading players that have setup maximum projects under the rooftop/onsite solar category in CY2024.