India added 3.6 GW of solar in first half of 2023


India installed 3.6 GW of solar capacity in the first six months of 2023, down 53% compared to 7.6 GW installed in the corresponding period last year. Q2 2023 additions stood at 1.7 GW, almost 58% down from 4 GW installed in Q2 2022, according to the newly released Q2 2023 India Solar Market Update by Mercom India Research.

Large-scale solar projects accounted for 77% (over 1.3 GW) of capacity added in Q2 2023, with rooftop solar making up the rest (23%). 

India’s cumulative installed solar capacity, including total rooftop solar installations, surpassed 66 GW as of June 2023.

The country’s utility-scale project development pipeline stood at over 67 GW as of June 30, 2023, with an additional 62 GW of projects tendered awaiting auction.

“Delays, extensions, and postponements have led to a substantial number of solar projects being deferred to the next year, making 2023 a year of setbacks for solar in India. Consequently, 2024 looks extremely robust. Rapidly declining solar component and project costs will be a catalyst for additional growth,” stated Raj Prabhu, CEO of Mercom Capital Group.

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