2020 Q4 and ANNUAL INDIA SOLAR MARKET UPDATE – 3.2 GW INSTALLED IN CY 2020
The cumulative solar installed capacity totaled ~38.9 GW at the end of Q4 2020.
India added 3,239 megawatts (MW) of solar capacity in calendar Year (CY) 2020, a 56% decline year-over-year (YoY), compared to 7,346 MW installed in 2019.
Large-scale solar projects accounted for 78% of the installations with 2,520 MW and saw a 60% YoY decline, and rooftop installations made up for the remaining 22% adding 719 MW, a 35% drop YoY.
The cumulative installed solar capacity in India was 38.9 GW at the end of Q4 2020, with large-scale projects accounting for 87% (33.8 GW) and rooftop adding the other 13% (5.1 GW)
Andhra Pradesh, Rajasthan, and Gujarat were the top three states for large-scale solar capacity additions, representing around 51% of 2020 installations.
Key Highlights from Mercom India Research’s 2020 Q4 and Annual India Solar Market Update
- India added 3.2 GW of solar in CY 2020, a 56% decline compared to 7.3 GW installed in 2019
- Large-scale solar installations in 2020 accounted for 78% with 2.5 GW, and rooftop made up the remaining 22% adding 719 MW
- Cumulative solar installed capacity in India was approximately 38.9 GW at the end of Q4 2020
- The large-scale solar project pipeline in India stood at 47.5 GW, with another 24.5 GW of tendered capacity pending auctions at the end of Q4 2020
- Solar accounted for 48% of new power capacity additions in 2020
- In 2020, investments in the Indian solar sector were 66% lower compared to 2019
- Electricity generated from solar in 2020 crossed 58.2 billion units
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Utsav Sinha, a senior research analyst covering cleantech markets and has been with Mercom since 2014. Utsav is also an online editor at MercomIndia.com and ensures overall content quality for the site. Utsav earned his bachelor’s degree in Computer Science and Engineering from Dhaneswar Rath Institute of Engineering and Management Studies (DRIEMS) at Biju Patnaik University of Technology, Odisha. More articles from Utsav.