India installed 3.2 GW of rooftop solar capacity in 2024, an 86% increase from 2023, according to Mercom India Research’s newly released Q4 & Annual 2024 India Rooftop Solar Market Report. The capacity additions were mainly driven by the record commissioning of rooftop solar systems under the PM Surya Ghar: Muft Bijli Yojana. Consumers in the residential segment benefitted from the PM Surya Ghar program, accounting for 74% of the installations in 2024.

NLC India and Adyant Enersol (Datta Infra) won SJVN’s auction to set up 600 MW inter-state transmission system-connected wind power projects on a build-own-operate basis. NLC India won 200 MW at a tariff of ₹3.74 (~$0.0429)/kWh and Adyant Enersol won 112 MW at a tariff of ₹3.81 (~$0.0437)/kWh. The tender was floated in April 2024. Out of the 600 MW, only 312 MW of capacity was auctioned.

Power Grid Corporation of India (POWERGRID) received letters of intent for three transmission projects from REC Power Development and Consultancy under tariff-based competitive bidding cumulatively worth ₹107.5 billion (~$1.2 billion). The three projects are a transmission system for power evacuation from the Rajasthan Renewable Energy Zone Ph-V, an augmentation of transformation capacity at Banaskantha, Gujarat, and another transmission system project for integration of Kurnool-IV REZ Phase-I in Andhra Pradesh.

Lakshadweep Electricity Department invited bids to install 2,107 kW of rooftop solar systems with a 3 kWh battery energy storage system for each kW on government buildings. Bids must be submitted by April 10, 2025. Bids will be opened on the next day. Bidders must furnish an earnest money deposit of ₹4.62 million (~$52,992). The scope of work includes providing a five-year warranty for the rooftop solar systems. It also includes comprehensive operation and maintenance for an additional five years, with the option to extend it up to 25 years.

Bihar State Power Generation Company invited bids to set up 125 MW/500 MWh standalone battery energy storage system (BESS) with viability gap funding support under the build, own, operate and transfer mode. Bids must be submitted by March 23, 2025. Bids will be opened on March 24. The BESS must be made available to the state transmission utility for charging/discharging the energy storage on an on-demand basis. The storage system must be connected to the grid at a minimum voltage level of 33 kV.

The Government of India launched five pilot projects under the National Green Hydrogen Mission to introduce hydrogen-fueled buses and trucks. The Ministry of New and Renewable Energy (MNRE) had earlier issued guidelines for implementing pilot projects in the transport sector and invited proposals for hydrogen-based vehicles, routes, and refueling stations. After evaluating the proposals, MNRE sanctioned five pilot projects involving 37 hydrogen-powered vehicles and nine hydrogen refueling stations.

Distribution companies (DISCOMs) owed power generators ₹645.77 billion (~$7.4 billion) in total dues for the monthly billing cycle in February 2025, according to the Ministry of Power’s payment ratification and analysis portal PRAAPTI. The DISCOMs owed power generators ₹615.95 billion (~$7.07 billion) in January. The outstanding dues, excluding the latest monthly dues of ₹375.66 billion (~$4.3 billion), are ₹270.12 billion (~$3.1 billion).

Solid Power, an all-solid-state battery manufacturer for electric vehicles, delivered $20.1 million in revenue during 2024, marking a 16% increase from $17.4 million in 2023. The company attributed this growth primarily to progress on its SK On Agreements, executing key steps in technology transfer and achieving milestones related to its line installation agreement. The revenue exceeded analysts’ expectations by $2.64 million.

The Indian Energy Exchange traded 552 million units (MU) of green energy in February 2025, an 85% year-over-year (YoY) increase from 298 MU. The Green Day-Ahead Market (G-DAM) traded 519 MU during February with a weighted average price of ₹4.59 (~$0.052)/kWh, an increase of 95% YoY from 266 MU. The Green Term-Ahead Market traded 33 MU, with an average monthly price of non-solar at ₹3.88 (~$0.044)/kWh, compared to 32 MU in February 2024, an increase of 3% YoY.

U.S.-based solar tracker company Array Technologies reported a revenue of $275.2 million in the fourth quarter (Q4) of the financial year 2024, aligning with the analysts’ estimates but marking a 19.4% decline from $341.6 million in Q4 2023. Though the sales volume grew, the revenue declined YoY as the growth was fully offset by average selling price compression. The company recorded a net loss of $141.2 million compared to a net profit of $6 million in Q4 2023.