India installed 6.8 GW of solar in H1 2023, says JMK Research 


India installed about 6.8 GW of new solar capacity in the first half (January to June period) of 2023, including 4.2 GW from utility-scale, 2.3 GW rooftop, and 0.3 GW off-grid. The half-yearly addition was about 15% less than H1 2022 installations, according to a new report by JMK Research & Analytics. 

In Q2 2023 (April-June 2023), about 1.7 GW of utility-scale solar capacity was added. This is about 28% higher than Q1 2023 installations.

Wind capacity addition in H1 2023 was about 1.9 GW, 166% higher year-on-year.

The nation reached a cumulative installed renewable capacity of 129.6 GW as of June 30, 2023. Solar continues to be the major contributor with a 54% share in the total renewable mix, which is followed by wind with a 34% share. 

About 66 GW of solar, wind, and hybrid projects are in the pipeline and likely to be commissioned in the next 4-5 years. Another 61.9 GW of projects are under the bidding phase, i.e., where tenders have been issued but auctions are not yet completed.


JMK Research analysts project India to install about 13 GW of new solar capacity (9 GW utility-scale and 4 GW rooftop) and 4.1 GW of wind in CY 2023, with about 5.8 GW of solar and 2.3 GW of wind capacities likely to be added in the next two quarters.

Q2 2023 installations

In Q2 2023 (April-June 2023), about 1.7 GW of utility-scale solar capacity was added. This is about 28% higher than the Q1 2023 installations. Sineng led in inverter shipments, followed by Sungrow and Fimer. Waaree topped in module supplies with about 14.2% share of total shipments.

In terms of cumulative installation as of June 30, 2023, across both utility-scale solar and wind segments, Adani is the leading player with about 8.3 GW of operational capacity and another 20.4 GW of projects in the pipeline.

In the Indian market, the landed price for Chinese mono PERC modules (excluding goods and services tax and basic customs duty) was 27-29 US cents/Wp in Q2 2023. Prices for mono PERC modules were 9-13% less than in the previous quarter. Bifacial module prices were 30-32 US cents/Wp.



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