India Solar Energy Market Report 2024-2029: Comparison of State Level Renewable Energy Potential and its Installed Capacity [Yahoo! Finance]
ReNew Energy Global plc - Class A Shares (RNW)
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Source: Yahoo! Finance
India's cumulative installed solar energy capacity increased from 22.35 GW in FY 2018 to 90.76 GW in FY 2024, expanding at a compound annual growth rate (CAGR) of ~26.31%. India's solar energy sector is growing rapidly due to ambitious government policies and a global shift toward renewable energy. With a record 10 GW of capacity added in Q1 2024 alone, the nation is on track to meet its target of 500 GW by 2030. India's solar market growth is driven by supportive initiatives such as the PM-KUSUM scheme for rural solar adoption, the Solar Energy Corporation of India's (SECI) large-scale auctions, and strong private sector investments. In 2024, utility-scale solar projects dominate installations, accounting for 70% of new capacity. Rooftop solar adoption also increased, though challenges in financing and grid infrastructure persist. The market is set to benefit from India's planned solar parks and manufacturing incentives, aiming for a 40% reduction in renewable energy costs by 20
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- 12/11/24 - Form 6-K
- 12/10/24 - Form SC
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