In Short : “In FY24, India achieves a milestone with the addition of a record-breaking 18,485 MW of renewable energy capacity, marking significant progress towards sustainable energy goals and reinforcing the nation’s commitment to clean energy expansion.”
In Detail : New Delhi : India’s renewable energy sector had a stellar year in FY 2023-24, achieving the highest ever annual capacity addition of 18,485 MW to the grid.
This was driven primarily by the solar power segment, which accounted for a massive 81 per cent share of the new capacity added.
The solar power market installed a total new capacity of 15,033 MW in FY24, including utility-scale ground-mounted, rooftop, hybrid, and off-grid projects. This was an impressive 18 per cent increase over the 12,784 MW added in FY23.
Utility-scale solar led the way, adding around 11.5 GW in FY24 – an 18 per cent jump from the previous year.
The rooftop solar segment also saw significant growth of 34 per cent, installing nearly 3 GW of new capacity.
After a few lean years, the wind power sector bounced back strongly in FY24, adding over 3,000 MW of new capacity for the first time in recent years at 3,253 MW.
The state of Gujarat cemented its position as India’s renewable energy leader in FY24. It was the top performer in both solar and wind, installing 3,320 MW of large-scale solar and 1,744 MW of wind power capacity.
Rajasthan (3,929 MW) and Tamil Nadu (1,261 MW) were the other major solar capacity addition leaders, while Karnataka (725 MW) and Tamil Nadu (586 MW) also saw significant wind installations.
As of March 31, 2024, India’s total renewable energy installed capacity, including large hydro, stood at an impressive 144 GW. Solar power accounted for 82 GW, wind 46 GW, with the remaining from other RE sources.
The record capacity additions in FY24 have provided a strong impetus to India’s renewable energy ambitions and transition towards cleaner sources of power generation.
