Current status of solar power generation technology in India

How much solar power has India generated in fy24?

India has generated 75.57 BU of solar power in the first eleven months of FY24. Power generation from renewable energy sources (not including hydro) stood at 22.41 billion units (BU) in January 2024, down from 25.79 BU in January 2023. India added a record 18.48 GW of renewable energy capacity in 2023-24, a 21% increase over the previous year.

How much solar energy has India generated in 2022-23?

The generation during 2022-23 was 1624.158 BU as compared to 1491.859 BU generated during 2021-22, representing a growth of about 8.87%. The installed solar energy capacity has increased by 26 times in the last 9 years and stands at 73.32 GW as of December 2023. In 2023, India has added 7.5 GW of solar power capacity.

How many GW of solar PV is installed in India?

In the fiscal year 2023-24 alone, more than 15 GW of solar PV capacity was added, demonstrating India’s commitment to expanding its renewable energy portfolio. In the first two of the fiscal year 2024-25, over 3 GW of renewable energy capacity was installed, with solar contributing more than 2.46 MW, constituting about 82% of the total.

How much solar power does India have?

India is endowed with vast solar energy potential. About 5,000 trillion kWh per year energy is incident over India’s land area with most parts receiving 4–7 kWh per sq. m per day (MNRE 2022a). Figure 1 presents the total annual and cumulative installed solar power capacity in India.

Does India need solar energy?

India’s climate action is dependent upon energy transition (in the electricity sector) by betting large on shift to solar energy. In 2014-15, the Government had set a target of producing 175 Gigawatt (GW) of renewable energy by 2022, with 100 GW of solar energy. The present installed capacity of solar energy is only 60% of the target.

Will India generate 75% of its electricity by 2050?

Bloomberg New Energy Finance (BNEF) estimates in its NEO 2018 report, that India will generate 75% of its electricity from renewable energy sources by 2050. India’s current installed capacity stands at ~408 GW, of which renewable energy (Wind, Solar and other renewable energy) is ~118GW. This is ~67% of the 175 GW target set in 2014.