JMK Research says it expects India to install 14 GW of new utility solar power and 2.8 GW of rooftop power in the 12 months to December 31, 2023.
India is slated to install 16.8 GW of new solar capacity in 2023. According to a new report by JMK Research, the new additions are likely to include about 14 GW of grid solar projects and 2.8 GW of rooftop solar projects.
In 2022, India will install 11.4 GW of utility solar power and 1.9 GW of rooftop solar, up from 13.3 GW in 2022, the analysts said. As of 12/31/2022, India’s cumulative solar capacity was approximately 53.6 GW installed, while 44.6 GW was under construction.
In 2022, JinkoSolar was the largest module supplier in India. It was followed by Trina Solar and Longi. Domestic players also recorded significant sales from April 2022 after the introduction of 40% basic duty. Waaree, Adani and Vikram Solar were the leading domestic suppliers in 2022.
Spring inverter shipments reached 10,302 MW (AC) in January-December 2022. Sungrow led the market with a 20.9 percent share, followed by Huawei and Solis. Central inverter deliveries rose to 5,716 MW led by Sineng, Sungrow and Fimer.
NTPC, Adani and Avaada were the top three solar developers in 2022. Tata Power and L&T were the leading third-party utilities.design, procurement and construction electrical scale contractors.