According to statistics, India added 8.359 GW of installed solar capacity in the first half of 2022, an increase of 71% over the same period last year. India is expected to install around 20 GW of solar this year, including 16.5 GW of large-scale ground-mounted PV plants and 3.5 GW of rooftop PV.
Among them, Rajasthan's photovoltaic installed capacity reached 4.5GW in the first half of the year, accounting for 54% of the total. This is followed by Gujarat with 1.5 GW of PV installed capacity in the first half of the year, and Tamil Nadu with 860 MW.
According to the Ministry of New and Renewable Energy (MNRE), India had installed a cumulative 114 GW of renewable energy capacity by the end of June, with solar accounting for 51% of all renewable energy capacity, followed by wind at 36%, Bioenergy accounts for 9% and small hydropower accounts for 4%.
As of June 30, 2022, India had a cumulative installed solar power capacity of 57.7GW, as well as 48.7GW of PV projects under construction, and 16.7GW of PV projects are being tendered. Rajasthan leads the pack in terms of PV installations, accounting for 25% of the country's cumulative PV capacity (14.4GW), followed by Gujarat (7.8GW) and Karnataka (7.6GW).
It is reported that most of the above-mentioned photovoltaic projects are installed by private sector developers. Taking into account the normative cost of INR 450 crore per MW, the installation of 57.7 GW of cumulative solar capacity has generated an outlay of about INR 260 trillion.
India has stepped up its renewable energy funding again this year, with the Ministry of New and Renewable Energy devolving $332 million in funding for its solar program in 2021-2022, compared to $234 million in 2020-2021 and $234 million in 2019-2020 $201 million.
The National Institute of Solar Energy, a state agency, forecasts that India has a solar capacity potential of around 750GWp based on land availability and solar radiation.
