In the first quarter of this year, India built 2.38 GW of utility solar power. It also added 801 MW of rooftop solar capacity in the first three months of 2023.
According to a new report by JMK Research & Analytics, India installed 2.38 GW of energy-efficient solar power capacity in the first quarter, a 54% increase compared to the last quarter of 2022. About 801 MW of rooftop solar energy was added during the same period.
More than 4 GW of central and string inverters and about 3.1 GW of modules were delivered to India in the first quarter of 2023. Waaree was the largest module supplier and Sungrow was the leading inverter supplier.
Developers installed about 8GW of utility solar capacity in the 12 months to March 31, 2023, down 22% from a year earlier. About 2,232 MW of new rooftop solar energy capacity was also commissioned.
JMK Research said it expects India to add about 18 GW of new solar capacity, including 15.5 GW of utility and 2.5 GW of rooftop capacity, in the 2023-24 financial year. It predicted that about 6.7 GW of solar and 2.5 GW of hybrid capacity will be installed over the next two quarters.