Close X
Sunday, November 24, 2024
ADVT 
India

India adds record 15GW of solar power capacity in first 6 months of 2024

Darpan News Desk IANS, 26 Aug, 2024 01:40 PM
  • India adds record 15GW of solar power capacity in first 6 months of 2024

New Delhi, Aug 26 (IANS) India's addition to solar power capacity jumped by 282 per cent to nearly 15 GW in the first half of 2024, which is the highest-ever half-yearly installation, according to a report by Mercom India Research.

In the second quarter of the calendar year 2024, the country commissioned 5 GW of solar capacity while in the first quarter (January-March) the new capacity that was added surged by as much as 9.9 GW, the report said.

As of June 2024, the country's installed solar capacity stood at 87.2 GW and accounted for 19.5 per cent of the total energy mix, the report said.

India's large-scale solar project pipeline stood at 146 GW, with projects totalling another 104 GW tendered and pending auctions as of June, it said.

Meanwhile, average large-scale project costs in the country declined by 2 per cent quarter on quarter and about 26 per cent year-on-year, the report said. Solar panel costs have been on a downtrend in recent years and the fall in costs is expected to continue.

Rajasthan, Gujarat, and Karnataka led the quarterly large-scale solar capacity additions while the top 10 states accounted for 94 per cent of total installations, the report added.

India has emerged as one of the world leaders in Energy Transition and fixed a target of adding 500 GW of renewable energy capacities by 2030, with solar expected to play a major role in achieving this goal.

As of June 30, 2024, the total grid-connected capacity of renewables stood at 148 GW. Of this, the solar power segment accounted for 85 GW, followed by wind power at 47 GW, and biomass at 1.4 GW. The small hydro segment accounted for 5 GW.

Installed solar capacity has increased by 32 times from 2.6 GW in 2014 to 85.5 GW now.

The technology and innovative market mechanisms have been instrumental in bringing overall costs down.

Solar is now the cheapest form of energy but is variable in nature, so India needs deployment of flexible generation sources for better integration of renewable energy, according to Vibhuti Garg, Director of South Asia, Institute for Energy Economics and Financial Analysis (IEEFA).

 

MORE India ARTICLES

NEET issue: PM Modi vows 'war-like efforts' to prevent paper leaks

NEET issue: PM Modi vows 'war-like efforts' to prevent paper leaks
Responding to the debate on the Motion of Thanks to the President's address to a joint sitting of the Parliament, the Prime Minister also emphasised the government's commitment to taking stringent action against the culprits, noting the ongoing arrests and the enactment of robust legislation aimed at preventing such occurrences.

NEET issue: PM Modi vows 'war-like efforts' to prevent paper leaks

Eight protesting girl students in Tripura allege assault by school management body members

Eight protesting girl students in Tripura allege assault by school management body members
Guardians of the students alleged that the SMC members involved in the incident were local BJP leaders, even though the ruling party has distanced itself saying that it doesn't have any information of the incident. Protesting girl students, however, claimed 15 of them were injured after the SMC members assaulted them.

Eight protesting girl students in Tripura allege assault by school management body members

Oppn suffered defeat despite peddling lies: PM Modi assails INDIA bloc in LS

Oppn suffered defeat despite peddling lies: PM Modi assails INDIA bloc in LS
PM Modi reiterated the government’s commitment and resolve towards public welfare, amid pandemonium and loud slogan-shouting by the Opposition members. He also took a stinging jibe at the Congress-led INDIA bloc and said that the Opposition suffered defeat despite propagating a series of lies.

Oppn suffered defeat despite peddling lies: PM Modi assails INDIA bloc in LS

116 killed in stampede at religious event in UP's Hathras

116 killed in stampede at religious event in UP's Hathras
Aligarh Range IG Shalabh Mathur told mediapersons: "So far, 116 deaths have been confirmed. Twenty-seven bodies are at a mortuary in Etah, while the rest are in Hathras. The bodies are being sent for post-mortem to different hospitals.

116 killed in stampede at religious event in UP's Hathras

Indian economy, banks remain robust & resilient: RBI

Indian economy, banks remain robust & resilient: RBI
The Indian economy and the financial system remain robust and resilient, anchored by macroeconomic and financial stability. With improved balance sheets, the country’s banks and financial institutions are supporting economic activity through sustained credit expansion, according to the RBI's Financial Stability Report released on Thursday.

Indian economy, banks remain robust & resilient: RBI

Inaugural Punjab Hockey League to begin on June 29

Inaugural Punjab Hockey League to begin on June 29
Matches are scheduled to take place at prominent venues such as the Olympian Surjit Singh Hockey Stadium in Jalandhar, the Balbir Singh Sr. International Hockey Stadium in Mohali, Olympian Prithipal Singh Hockey Stadium in Ludhiana and Namdhari Hockey Stadium, Jiwan Nagar, with each match hosted by one of the participating teams.

Inaugural Punjab Hockey League to begin on June 29