India adds record 10 GW of solar capacity in Q1 2024, marking almost 400 pc YoY increase

India's solar market witnessed a remarkable surge in Q1 2024, with installations reaching 9.7 GW, marking a 524% QoQ and nearly 534% YoY increase. Factors such as falling module prices, ALMM order suspension, and grid connectivity grants in sensitive habitats drove project completions. Rajasthan and Gujarat led installations, with solar representing 66% of new power capacity additions. \r

By March 2024, India's cumulative solar capacity reached 82 GW, comprising 18.5% of total installed power capacity. Gujarat's proactive approach boosted its renewable energy sector, surpassing Karnataka. \r

Despite falling project costs, challenges like transmission infrastructure and land acquisition delays persist, prompting developers to expedite projects before the June 2025 ISTS charges waiver deadline amidst rising land costs.