Increasing Solar Capacity Here to Its Highest Point Ever

By the end of this financial year, India is expected to add 16 to 17 gigawatts (GW) in solar capacity to its electric grid, bringing its total to its highest point in history.

“Based on the quarters growth it was appearing that Financial Year 2024 (FY24) numbers would beat the record of FY23, which saw the highest one-year growth till date for India,” explains Ravi Shekhar, director at Eninrac Consulting.

This financial year – from 1 April 2023 to 31 March 2024 – could see India’s highest-ever growth in solar capacity addition. FY22 saw a 13.9 GW addition of solar capacity, and FY23 saw 12.8 GW. India’s solar power has seen a three-fold jump from March 2018 to October 2023, with a capacity growth from 22.34 GW to 72 GW, with an annual basis of about 9 GW. This growth, if averaged out annually, would be about 9 GW in this period.