In the first quarter of 2023, India built 2.38 GW of utility scale photovoltaic systems and increased rooftop solar power generation by 801 MW.
The latest report from Indian consulting firm JMK Research&Analytics shows that India installed 2.38 GW of utility scale solar power generation in the first quarter, an increase of 54% compared to the fourth quarter of 2022. During the same period, the rooftop solar power generation increased by approximately 801 MW.
In the first quarter of 2023, India's centralized and series inverter shipments exceeded 4 GW, with component shipments of approximately 3.1 GW. Waaree is the largest component supplier, while Sungrow is a leading inverter supplier.
During the 12 months ended March 31, 2023, developers installed approximately 8 GW of utility scale solar power generation, a year-on-year decrease of 22%. At the same time, approximately 2232 MW of newly added rooftop solar power generation has been connected to the grid.
JMK Research predicts that India will add approximately 18 GW of solar power generation in the 2023-24 fiscal year, including 15.5 GW of utility scale and 2.5 GW of rooftop power generation. It is predicted that the country will install approximately 6.7 GW of solar energy and 2.5 GW of hybrid power generation in the next two quarters.
