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India added a record 1.9 gigawatts (GW) of rooftop solar capacity in the first nine months (9M) of calendar year (CY) 2024. Installations in the first nine months surpassed annual installations of all previous years. Installations rose almost 45% year-over-year (YoY) compared to the 1.3 GW installed in 9M 2023, according to Mercom India&#8217;s Q3 2024 India Rooftop Solar Market Report.
<div class="cms-button-wrap vc_btn3-container more-art-btn vc_btn3-center" style="text-align: center;"><a class="vc_general cms-button md cms-default btn-icon-animate vc_btn3-block green" style="color: white !important; text-transform: inherit; font-weight: bold; font-size: 18px; background: #ed8b23; padding: 10px 17px;" title="" href="https://www.mercomindia.com/product-form/q3-2024-mercom-india-rooftop-solar-market-report-executive-summary-form" rel="noopener noreferrer">Download Executive Summary</a></div>
In the third quarter (Q3) of 2024, a record 791.1 MW of rooftop solar capacity was installed, marking the highest quarterly additions to date. This represents over 8% increase quarter-over-quarter (QoQ) and an impressive 84% year-over-year (YoY) growth.
Installations in Q3 and 9M 2024 were primarily driven by the PM — SURYA GHAR: MUFT BIJLI YOJANA initiative (PM – Surya Ghar). The program significantly boosted capacity additions in the residential segment, contributing nearly 85% of installations during the quarter.
The industrial segment accounted for 12% of the quarter&#8217;s installations. Commercial and government segments accounted for over 2% and almost 1% of capacity additions, respectively, in Q3 2024.
<img loading="lazy" decoding="async" class="aligncenter size-full wp-image-60862" style="width: 70%;" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/MERCOM-INDIA-ROOFTOP-SOLAR-MARKET-REPORT-Q3-2024.jpg" alt="" width="969" height="449" />
Rooftop solar capacity additions under the capital expenditure (CAPEX) model accounted for almost 89% of the quarter&#8217;s installations.
Gujarat led the country&#8217;s rooftop solar capacity additions, accounting for almost 42% of the quarter&#8217;s installations. Maharashtra and Uttar Pradesh ranked second and third, accounting for 18% and 9% of the capacity installed during the quarter.
In 9M 2024, Gujarat led the rooftop solar installations, accounting for over 38%. Maharashtra and Kerala followed, accounting for almost 16% and 11% respectively.
As of September 2024, India had a cumulative installed rooftop solar capacity of 12.4 GW.
Kerala registered the highest compounded quarterly growth rate of more than 8% between Q3 2023 and Q3 2024.
A comprehensive analysis of net metering policies across all Indian states and Union Territories is also included in the report.
Key Highlights from Mercom India Research&#8217;s Q3 2024 India Rooftop Solar Market Report
<ul>
<li>India added 1.9 GW of rooftop solar in 9M 2024, up 45% YoY</li>
<li>In Q3 2024, 791.1 MW of rooftop solar capacity was added, up 8% QoQ and 84% YoY</li>
<li>Residential consumers contributed to over 85% of the installations in Q3</li>
<li>Cumulative rooftop solar installations reached 12.4 GW as of September 2024</li>
<li>In Q3 2024, 371.1 MW of rooftop solar tenders were issued, down by 30% QoQ and up 211% YoY</li>
<li>The average cost of rooftop solar systems rose by over 2% QoQ and fell 3% YoY</li>
</ul>
Contact Mercom for pricing: <a href="mailto:reports@mercomindia.com" target="_blank" rel="noopener noreferrer">reports@mercomindia.com</a> or call us at +91-080-41211148.
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MERCOM INDIA ROOFTOP SOLAR MARKET REPORT Q3 2024 – 1.9 GW INSTALLED IN 9M 2024

India Reports

In the first nine months (9M) of 2024, India added 4.8 gigawatts (GW) of solar open access capacity, up almost 69% compared to 2.8 GW installed in 9M 2023, according to the Q3 2024 Mercom India Solar Open Access Market Report. The capacity added in the first nine months of 2024 surpassed annual installations witnessed in any of the previous years.
<div class="cms-button-wrap vc_btn3-container more-art-btn vc_btn3-center" style="text-align: center;"><a class="vc_general cms-button md cms-default btn-icon-animate vc_btn3-block green" style="color: white !important; text-transform: inherit; font-weight: bold; font-size: 18px; background: #ed8b23; padding: 10px 17px;" title="" href="https://www.mercomindia.com/product-form/q3-2024-mercom-india-solar-open-access-market-report-executive-summary-form" rel="noopener noreferrer">Download Executive Summary</a></div>
The availability of low-cost solar module inventory, procured before the reimposition of the Approved List of Models &amp; Manufacturers (ALMM) order, fueled capacity additions in the first half of 2024, leading to record installations in 9M 2024.
In the third quarter (Q3) of calendar year (CY) 2024, India added about 1.1 GW of solar open access capacity, a drop of over 36% from 1.7 GW installed in Q2 2024. Installations dropped 6.5% year-over-year (YoY) compared to over 1.1 GW added in Q3 2023.
Capacity additions during Q3 were hampered by delays in several projects, primarily due to limited transmission infrastructure and challenges in land acquisition. Additional factors, such as delays in grid connectivity approvals and the higher costs of ALMM-enlisted Indian modules compared to imported ones, further contributed to the slowdown.
In Q3 2024, Maharashtra led solar open access capacity additions, accounting for nearly 27% of the quarter’s installation. Tamil Nadu and Uttar Pradesh followed, accounting for almost 24% and over 15% of the projects commissioned.
<img loading="lazy" decoding="async" class="aligncenter wp-image-61079" style="width: 70%;" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/11/Q3-2024.jpg" alt="SOLAR OPEN ACCESS MARKET REPORT " width="611" height="295" />
The cumulative installed solar open access capacity stood at 17.8 GW as of September 2024.
Karnataka remained the top state for cumulative installations, accounting for about 29% of solar open access capacity at the end of 9M 2024. Maharashtra and Gujarat ranked second and third, accounting for over 14% and 11% of cumulative installations through the end of Q3 2024.
The pipeline of solar open access projects under development and in the pre-construction phase was 24.1 GW as of September 2024. More than 80% of pipeline projects were located in Rajasthan, Karnataka, Andhra Pradesh, Maharashtra, and Tamil Nadu.
A detailed analysis of the solar open access market, retail electricity tariffs, PPA prices, and open access charges and costs for fifteen states have been covered in the report.
Key Highlights from Mercom’s Q3 2024 India Solar Open Access Market Report
<ul>
<li>In 9M 2024, India added 4.8 GW of solar open access capacity, up 69% YoY</li>
<li>In Q3 2024, 1.1 GW of solar open access was added, down 36% QoQ and 6.5% lower YoY </li>
<li>Maharashtra led capacity additions, accounting for nearly 27% of solar open access capacity added in Q3 2024</li>
<li>Tamil Nadu and Uttar Pradesh ranked second and third, contributing to 24% and 15% of the quarter&#8217;s installations</li>
<li>As of September 2024, the cumulative installed solar open access capacity was 17.8 GW</li>
<li>The pipeline of solar open access projects reached 24.1 GW as of September 2024</li>
</ul>
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Contact Mercom for pricing: <a href="mailto:reports@mercomindia.com" target="_blank" rel="noopener noreferrer">reports@mercomindia.com</a> or call us at +91-80-41211148.
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Q3 2024 MERCOM INDIA SOLAR OPEN ACCESS MARKET REPORT – 4.8 GW INSTALLED IN 9M 2024

In the first nine months (9M) of the calendar year (CY) 2024, solar projects totaling 16.4 GW were added in India, an increase of over 167% compared to 9M 2023. According to Mercom’s Q3 2024 India Solar Market Update, installations topped all previous nine months and annual installations.
<div class="cms-button-wrap vc_btn3-container more-art-btn vc_btn3-center" style="text-align: center;"><a class="vc_general cms-button md cms-default btn-icon-animate vc_btn3-block green" style="color: white !important; text-transform: inherit; font-weight: bold; font-size: 18px; background: #ed8b23; padding: 10px 17px;" title="" href="https://www.mercomindia.com/product-form/q3-2024-india-solar-market-update-executive-summary-form" rel="noopener noreferrer">Download Executive Summary</a></div>
The commissioning of several previously delayed projects contributed to capacity additions in the first nine months of 2024.
In the third quarter (Q3), 3.5 GW of solar capacity was commissioned. Installations dropped almost 28% quarter-over-quarter (QoQ) compared to 4.9 GW installed in Q2 2024. Capacity additions grew 78% year-over-year (YoY) from about 2 GW.
<img loading="lazy" decoding="async" class="aligncenter wp-image-60583" style="width: 70%;" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/11/Q3-2024-Solar.jpg" alt="Solar Installations by Quarter (MW)" width="577" height="263" />
During the quarter, 2.8 GW of large-scale solar capacity was installed, down 34% QoQ from 4.2 GW.
The installations dropped in the third quarter as several projects were affected by delays in grid connectivity, land acquisition, the impact of monsoon on construction activity, and limited availability of modules complying with domestic content requirements (DCR).
Large-scale solar capacity additions were up 77% from 1.6 GW installed in Q3 2023. Solar open access projects accounted for nearly 39% of large-scale solar installations.
As of September 2024, India&#8217;s cumulative installed solar capacity stood at 89.1 GW. Of the total installed capacity, 86% were utility-scale projects, and 14% were rooftop solar. Solar accounted for about 20% of India&#8217;s installed power capacity and over 44% of renewable energy capacity.
India&#8217;s solar module and cell imports rose by 27% QoQ and dropped 19% YoY. The exports were down 55% QoQ and 62% YoY.
Key Highlights from Mercom India Research&#8217;s Q3 2023 India Solar Market Update:
<ul>
<li>India added 3.5 GW of solar capacity in Q3 2024, down by 28% QoQ and up 78% YoY</li>
<li>Solar accounted for more than 73% of new power capacity additions in 9M 2024</li>
<li>Gujarat, Madhya Pradesh, and Maharashtra led quarterly large-scale solar capacity additions</li>
<li>In 9M 2024, solar projects totaling 16.4 GW were commissioned, a 167% surge YoY</li>
<li>India&#8217;s cumulative installed solar capacity stood at 89.1 GW as of September 2024 </li>
<li>Rajasthan, Gujarat, and Karnataka led the country&#8217;s cumulative large-scale installations </li>
<li>India&#8217;s large-scale solar project pipeline stood at 163 GW, with another 127.2 GW of projects tendered and pending auction</li>
<li>Average large-scale project costs fell 1% QoQ and almost 23% YoY</li>
<li>Tender capacity announced in Q3 2024 was up 52% QoQ and 19% YoY </li>
<li>During the quarter, auction activity fell by 14% QoQ and 17% YoY</li>
</ul>
<img loading="lazy" decoding="async" class="aligncenter wp-image-60617" style="width: 70%;" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/11/solar-market-update-infographics-final-1-scaled.jpg" alt="Q3 2024 India Solar Market Update_Inforgraphics" width="605" height="699" />Contact Mercom for pricing: <a href="mailto:reports@mercomindia.com" target="_blank" rel="noopener noreferrer">reports@mercomindia.com</a> or call us at +91-080-41211148 or +91-080-23560436.
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Q3 2024 INDIA SOLAR MARKET UPDATE - 3.5 GW INSTALLED IN Q3 2024

Mercom&#8217;s India Solar Market Leaderboard report covers market shares and rankings across the Indian solar supply chain in the first half (1H) of the calendar year (CY) 2024. It provides the most accurate and comprehensive coverage of India&#8217;s solar industry leaders.
The report highlights notable shifts in the market share of solar companies during 1H 2024, a record-setting period for India&#8217;s solar sector driven by the commissioning of several delayed projects, spurred by a substantial decline in module prices.
In 1H 2024, thirty-seven companies entered the top ten rankings across various categories. These companies did not feature among the top ten in the first half of 2023, underscoring a highly competitive solar market with substantial opportunities for growth.
<div class="cms-button-wrap vc_btn3-container more-art-btn vc_btn3-center" style="text-align: center;"><a class="vc_general cms-button md cms-default btn-icon-animate vc_btn3-block green" style="color: white !important; text-transform: inherit; font-weight: bold; font-size: 18px; background: #ed8b23; padding: 10px 17px;" title="" href="https://www.mercomindia.com/product-form/1h-2024-india-solar-market-leaderboard-executive-summary-form" rel="noopener noreferrer">Download Executive Summary</a></div>
Also, our <a href="https://www.mercomindia.com/product/mercoms-india-solar-market-share-tracker">Market Share Tracker</a>, which gives insights into your competitors and their growth rates on a quarterly basis, is available in an excel format.
The report covers:
<ul>
<li>Top Utility-Scale Solar Developers</li>
<li>Top Rooftop Solar Developers</li>
<li>Top Large-Scale Solar EPC Companies</li>
<li>Top Solar Inverter Suppliers</li>
<li>Top Solar Module &amp; Cell Suppliers</li>
<li>Top Solar Module and Cell Manufacturers</li>
<li>Top Solar Module Exporters</li>
<li>Top Solar Tracker Suppliers</li>
<li>Top Solar Module Mounting Structure Suppliers</li>
<li>Top Open Access Solar Developers</li>
<li>Top Robotic Solar Module Cleaning Equipment Suppliers</li>
</ul>
Companies Covered in the report include:
Adani Green Energy | ReNew | O2 power | ACME Solar | NTPC Renewable Energy | Torrent Power | Ayana Renewable Power | Aditya Birla Renewables | Avaada Energy | Azure Power | Tata Power | NLC India Green Energy | Greenko | AMPIN Energy Transition | Juniper Green Energy | Sukhbir Agro Energy (SAEL) | SJVN Green Energy | Tata Power Solar | Roofsol Energy | Havells India | Kalpa Power | Mahindra Solarize | Amplus Solar | Evolve Solar | Orb Energy | Fourth Partner Energy | Ratan Green Energy | CleanMax Enviro Energy | Sunsure Energy | Hinduja Renewables | Candi Solar | Jakson Green | Gensol Engineering | Ashoka Buildcon | InSolare Energy | Amara Raja Infra | Waaree Renewable Technologies | Addwatt Power Solutions | KEC International | LNB Renewable Energy | Sterling and Wilson | Rays Power Infra | BELECTRIC | Sungrow Power Supply | TBEA Energy India | Huawei Technologies| TMEIC | FIMER India | Sineng Electric | Ginlong (Solis) Technologies | Growatt New Energy | NingBo Deye Inverter Technology | SOFAR | SolaX Power | GoodWe | SMA Solar | Hitachi Hi-Rel Power Electronics | Jinko Solar | LONGi Green Energy Technology | Waaree Energies | GCL Systems Integration New Energy | Trina Solar | Adani Solar | Premier Energies | JA Solar | Saatvik Green Energy | Rayzon Solar | Vikram Solar | Emmvee Photovoltaic Power | Insolation Energy | Astronergy New Energy | Lianyungang Shenzhou New Energy | Solarspace Technology | Canadian Solar | Risen Energy | ReneSola | Econess Energy | Shandong Ronma Solar | Honyu Technology | Shandong Ronma Solar | Solar N Plus | Tongwei Solar | Pahal Solar | REC Solar | Dongguan Sunworh Solar | Pixon Energy | Alpex Solar | Senza Solar | Znshine Solar | Citizen Solar | Innovative Solar Solution | First Solar | Aiko Solar | Jetai New Energy | Jiangsu Zhongrun Solar Technology/Solarspace | Anhui Yingfa Deshseng | Guangdong Jinwan Gaojing | DMEGC Magnetics | Goldi Solar | Cosmic PV Power | Future Solar | Jakson Solar | Indosol Solar | Luminous Power Technologies | Credence Solar | Pandit Deendayal Energy University | AatmaNirbhar Solar | Icon Solar-en Power Technologies | GreenBrilliance Renewable Energy | Nyalkaran Energy | Beempow Energy | RenewSys India | HR Solar Solution | Jupiter International | Bharat Heavy Electricals | Euro Multivision | Bharat Electronics | Central Electronics | Arctech | GameChange Solar | Nextracker | Scorpius Tracker | Mahindra Susten | SmartTrak Solar System | L&amp;T Construction | Photon Solar | Ganges Internationale | Deccan Energy | Goodluck India | Strolar Mounting Systems | Raydean Industries | Metalkraft Forming Industries | MTE Structures | ISHKON Industries | SMS Solutions | RPK Green | Guru Fabrications | Purshotam Profiles | SNS Corporation | Bhavita Engineering | Ecoppia | AM Green Energy | Serentica Renewables | Brookfield Energy | Continuum Green Energy | Sembcorp | LEAPTING | Vayu Solar | Airtouch Solar | Aegeus Technologies | Langfang Sol-Bright Photovoltaic Technology | Solar-LIT | Taypro | Solabot Technologies | Skilancer Solar | Restech Technologies (BloKleen Solar) |
Know your competition and stay ahead of the game. Get your market share report today!
Call us for pricing and details: +91.80.4121.148, or email: <a href="mailto:info@mercomindia.com">info@mercomindia.com</a>.
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Mercom's India Solar Market Leaderboard 1H 2024: Market Shares and Profiles

In the first half (1H) of calendar year (CY) 2024, India added 11.3 gigawatts (GW) of solar modules and 2 GW of solar cell capacity, according to Mercom India&#8217;s State of Solar PV Manufacturing in India 1H 2024 report.
<div class="cms-button-wrap vc_btn3-container more-art-btn vc_btn3-center" style="text-align: center;"><a class="vc_general cms-button md cms-default btn-icon-animate vc_btn3-block green" style="color: white !important; text-transform: inherit; font-weight: bold; font-size: 18px; background: #ed8b23; padding: 10px 17px;" title="" href="https://www.mercomindia.com/product-form/1h-2024-state-solar-manufacturing-india-executive-summary-form" rel="noopener noreferrer">Download Executive Summary</a></div>
Manufacturing capacity additions in 1H 2024 were primarily driven by strong demand, with solar project pipelines totaling 132.7 GW between 2024 and 2026 and the reimposition of the Approved List of Models and Manufacturers (ALMM) order from April 2024.
The country&#8217;s cumulative solar module manufacturing capacity reached 77.2 GW, and solar cell manufacturing capacity totaled 7.6 GW as of June 2024.
The top 10 manufacturers accounted for 58% of the module and 100% of cell production capacity as of June 2024.<img loading="lazy" decoding="async" class="wp-image-48278 aligncenter" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/10/1h-2024.jpg" alt="Solar Module Manufacturing Forecast (MW)_23 01 23" width="686" height="342" />
Monocrystalline (mono) Passivated Emitter and Rear Cell (PERC) modules accounted for most of the country&#8217;s module production capacity, followed by Tunnel Oxide Passivated Contact (TOPCon), polycrystalline, and thin film modules.
Gujarat was the top choice for solar photovoltaic (PV) component manufacturers, accounting for 45% of the country&#8217;s solar modules and 52% of solar cell capacity as of June 2024.
Tamil Nadu and Rajasthan followed, housing 10% and 8% of India&#8217;s module production capacities. Telangana and Himachal Pradesh were the other leading states after Gujarat for solar cell facilities. As of June 2024, 28% of the solar cell facilities in India were in Telangana, and over 10% were in Himachal Pradesh.
Module manufacturing capacity is projected to surpass 172 GW, and cell capacity is expected to reach over 80 GW by 2026.
Various public sector and government entities issued tenders totaling 7.6 GW to procure solar modules in 1H 2024.
In 1H 2024, 13.2 GW of modules were imported, up more than 338% YoY compared to 1H 2023. Over 84% of these solar modules were imported in the first quarter of the year in anticipation of the ALMM order reimposition. India&#8217;s solar cell imports totaled 15.5 GW in 1H 2024, up nearly 152% YoY, with over 46% imported in Q1.
Domestic manufacturers exported over 3 GW of solar modules in 1H 2024, with exports increasing by more than 16% YoY. India&#8217;s solar cell exports reached 148.6 MW in 1H 2024, up by more than 195% YoY from 50.4 MW in 1H 2023.
Key Highlights from the Report:
<ul>
<li>India added 11.3 GW of module capacity and 2 GW of cell capacity in 1H 2024</li>
<li>The top three states for solar module manufacturing were Gujarat, Tamil Nadu, and Rajasthan</li>
<li>Gujarat, Telangana, and Himachal Pradesh were the top three states for solar cell manufacturing capacity</li>
<li>In 1H 2024, various government entities issued 7.6 GW of tenders to procure solar modules</li>
<li>India&#8217;s solar PV module and cell imports were up over 338% and almost 152%, respectively</li>
<li>India&#8217;s solar PV module and cell exports were up more than 16% and 195%, respectively</li>
</ul>
&nbsp;
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State of Solar PV Manufacturing in India 1H 2024 – 11.3 GW Solar Module Manufacturing Capacity Added in 1H 2024

In the first half (1H) of 2024, the country added 3.6 gigawatts (GW) of solar open access capacity, a 153% increase from the 1.4 GW installed in 1H 2023, according to the Q2 2024 Mercom India Solar Open Access Market Report. The capacity added in the first half of this year surpassed the total annual installations of any previous year.
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In the second quarter (Q2) of calendar year (CY) 2024, India added nearly 1.8 GW of solar open access capacity, down 2.5% from over 1.8 GW in Q1 2024. The installations in Q2 2024 were up 152% year-over-year (YoY) compared to 712.8 megawatts (MW) in Q2 2023.
In Q2 2024, Karnataka led solar open access capacity additions, accounting for over 40% of the quarter&#8217;s installation. The top five states accounted for over 85% of the quarter&#8217;s installations.
<img loading="lazy" decoding="async" class="aligncenter wp-image-61079" style="width: 70%;" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/09/Q2-2024-MERCOM-INDIA-SOLAR-OPEN-ACCESS-MARKET.jpg" alt="SOLAR OPEN ACCESS MARKET REPORT " width="611" height="295" />
The cumulative installed solar open access capacity stood at 16.3 GW as of June 2024.
Karnataka remained the top state for cumulative installations, accounting for over 30% of solar open access capacity added in the country at the end of 1H 2024. Maharashtra and Tamil Nadu ranked second and third, accounting for almost 14% and 11% of cumulative installations.
The pipeline of solar open access projects under development and in the pre-construction phase was almost 23 GW as of June 2024. More than 81% of pipeline projects were located in Rajasthan, Karnataka, Andhra Pradesh, Maharashtra, and Tamil Nadu.
A detailed analysis of the solar open access market, retail electricity tariffs, PPA prices, and open access charges and costs for fifteen states have been covered in the report.
Key Highlights from Mercom&#8217;s Q2 2024 India Solar Open Access Market Report
<ul>
<li>In 1H 2024, India added 3.6 GW of solar open access capacity, up over 153% YoY</li>
<li>In Q2 2024, 1.8 GW of solar open access was added, a 2.5% QoQ fall and up about 152% YoY</li>
<li>Karnataka was the leading state, accounting for over 40% of capacity additions in Q2 </li>
<li>The top five states accounted for more than 85% of the quarter&#8217;s installations</li>
<li>As of June 2024, the cumulative installed solar open access capacity was 16.3 GW</li>
<li>The top five states comprised over 72% of cumulative solar open access installations as of June 2024</li>
<li>As of June 2024, the pipeline of solar open access projects was almost 23 GW</li>
</ul>
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Q2 2024 MERCOM INDIA SOLAR OPEN ACCESS MARKET REPORT - 3.6 GW INSTALLED IN 1H 2024

India added 1.1 gigawatts (GW) of rooftop solar capacity in the first half (1H) of calendar year (CY) 2024, the highest 1H installations to date. Installations rose 26% year-over-year (YoY) compared to the 873 MW installed in 1H 2023, according to Mercom India&#8217;s Q2 2024 India Rooftop Solar Market Report.
<div class="cms-button-wrap vc_btn3-container more-art-btn vc_btn3-center" style="text-align: center;"><a class="vc_general cms-button md cms-default btn-icon-animate vc_btn3-block green" style="color: white !important; text-transform: inherit; font-weight: bold; font-size: 18px; background: #ed8b23; padding: 10px 17px;" title="" href="https://www.mercomindia.com/product-form/q2-2024-mercom-india-rooftop-solar-market-report-executive-summary-form" rel="noopener noreferrer">Download Executive Summary</a></div>
In the second quarter (Q2) of 2024, 731 MW of rooftop solar systems were installed, the highest amount of new quarterly capacity and an increase of almost 89% YoY compared to 388 MW in Q2 2023. Installations were up more than 99% quarter-over-quarter (QoQ) compared to 367 MW in Q1 2024.
The growth in installations during the first half (1H) and Q2 of 2024 was largely driven by increased residential rooftop solar capacity under the PM—SURYA GHAR: MUFT BIJLI YOJANA (PM—Surya Ghar). Residential solar installations surged by almost 923% quarter-over-quarter (QoQ), making up over 72% of the projects commissioned during the quarter.
The industrial segment accounted for over 23% of the quarter’s installations. Commercial and government segments accounted for 4% and 0.7% of capacity additions, respectively.
<img loading="lazy" decoding="async" class="aligncenter size-full wp-image-60862" style="width: 70%;" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/08/Q2-2024-Solar-Rooftop.jpg" alt="" width="969" height="449" />
Gujarat, Maharashtra, Kerala, Uttar Pradesh, and Tamil Nadu led rooftop solar capacity additions in Q2 2024. The top five states accounted for over 81% of installations in Q2.
As of June 2024, India had a cumulative installed rooftop solar capacity of 11.6 GW.
The top 10 states contributed over 78% of cumulative rooftop solar installations as of June 2024. Gujarat, Maharashtra, Rajasthan, Kerala, and Karnataka remained at the forefront in terms of cumulative installed rooftop solar capacity during the quarter.
In Q2 2024, rooftop solar tenders amounting to 533.6 MW were issued, down nearly 35% from 816.9 MW in Q1 2024 and a 259% jump compared to 148.6 MW in Q2 2023.
The average cost of rooftop solar systems rose by more than 12% QoQ after falling for six straight quarters due to domestic content requirements. The average cost was down nearly 10% YoY.
A comprehensive analysis of net metering policies across all Indian states and Union Territories is also included in the report.
Key Highlights from Mercom India Research&#8217;s Q2 2024 India Rooftop Solar Market Report
<ul>
<li>India added 1.1 GW of rooftop solar in 1H 2024, up almost 26% YoY</li>
<li>In Q2 2024, 731 MW of rooftop solar capacity was added, up over 99% QoQ and 89% YoY </li>
<li>Residential consumers contributed to over 72% of the installations in Q2</li>
<li>Cumulative rooftop solar installations reached 11.6 GW as of June 2024</li>
<li>Gujarat and Maharashtra led quarterly capacity additions and also remained the top states cumulatively</li>
<li>In Q2 2024, 533.6 MW of rooftop solar tenders were issued, down 35% QoQ and up 259% YoY</li>
<li>The average cost of rooftop solar systems rose by over 12% QoQ and fell nearly 10% YoY </li>
</ul>
Contact Mercom for pricing: <a href="mailto:reports@mercomindia.com" target="_blank" rel="noopener noreferrer">reports@mercomindia.com</a> or call us at +91-080-41211148.
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MERCOM INDIA ROOFTOP SOLAR MARKET REPORT Q2 2024 – 731 MW INSTALLED IN Q2 2024

In the first half (1H) of calendar year (CY) 2024, solar projects totaling 14.9 GW were added in India, an increase of over 282% compared to 1H 2023. According to the newly released Q2 2024 India Solar Market Update by Mercom India Research, installations topped all previous half-yearly and annual installations.
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In the second quarter (Q2), 5 GW of solar capacity was commissioned. Installations dropped over 49% quarter-over-quarter (QoQ) compared to 9.9 GW installed in Q1 2024. Capacity additions rose 170% year-over-year (YoY) compared to 1.8 GW in Q2 2023.
<img loading="lazy" decoding="async" class="aligncenter wp-image-60583" style="width: 70%;" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/08/Q2-2024.jpg" alt="Solar Installations by Quarter (MW)" width="577" height="263" />
Project delays due to grid connectivity and transmission infrastructure issues significantly affected quarterly additions for large-scale solar projects. The reimposition of the Approved List of Models and Manufacturers (ALMM) order further impacted the viability and commissioning of several open access projects, contributing to substantial delays during the quarter.
As of June 2024, India&#8217;s cumulative installed solar capacity stood at 87.2 GW. Solar energy accounted for 19.5% of India&#8217;s installed power capacity and over 44% of the total installed renewable energy capacity.
In Q2 2024, 10.7 GW of tenders were announced, a 21.6% decrease from 13.6 GW in Q2 2023. Tender activity dropped 65.2% QoQ compared to 30.7 GW.
During the quarter, 6.7 GW of solar PV projects were auctioned, similar to Q2 2023. Auction activity decreased 73.2% compared to 25.1 GW in Q1 2024.
India&#8217;s large-scale solar project pipeline stood at 146 GW, with another 104 GW of projects tendered and pending auction as of June 2024.
Key Highlights from Mercom India Research&#8217;s Q3 2023 India Solar Market Update:
<ul>
<li>India added 5 GW of solar capacity in Q2 2024, down by 49% QoQ and up 170% YoY</li>
<li>Solar accounted for 71% of new power capacity additions in 1H 2024</li>
<li>Rajasthan, Gujarat, and Karnataka led quarterly large-scale solar capacity additions</li>
<li>In 1H 2024, solar projects totaling 14.9 GW were commissioned, up 282% YoY</li>
<li>India&#8217;s cumulative installed solar capacity stood at 87.2 GW as of June 2024 </li>
<li>Rajasthan, Gujarat, and Karnataka led the country&#8217;s cumulative large-scale installations. </li>
<li>India&#8217;s large-scale solar project pipeline stood at 146 GW, with another 104 GW of projects tendered and pending auction</li>
<li>Average large-scale project costs fell 2% QoQ and almost 26% YoY</li>
<li>Tender announcements in Q2 fell 65.2% QoQ and 21.6% YoY, while auction announcements fell 73.2% QoQ and only marginally YoY</li>
</ul>
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Q2 2024 INDIA SOLAR MARKET UPDATE - 5 GW INSTALLED IN Q2 2024

India had a cumulative installed Battery Energy Storage System (BESS) capacity totaling 219.1 MWh as of March 2024, according to India&#8217;s Energy Storage Landscape report by Mercom India Research. Capacity installations in Q1 2024 totaled 120 MWh (40 MW).
Solar photovoltaic (PV) systems combined with battery energy storage systems (PV + BESS) accounted for 90.6% of the total installed capacity.
<div class="cms-button-wrap vc_btn3-container more-art-btn vc_btn3-center" style="text-align: center;"><a class="vc_general cms-button md cms-default btn-icon-animate vc_btn3-block green" style="color: white !important; text-transform: inherit; font-weight: bold; font-size: 18px; background: #ed8b23; padding: 10px 17px;" title="" href="https://www.mercomindia.com/product-form/india-energy-storage-landscape-executive-summary-form" rel="noopener noreferrer">Download Executive Summary</a></div>
The rapid addition of intermittent renewable energy sources, solar and wind, which accounted for 28.9% of the country&#8217;s electricity capacity as of March 2024,  has significantly impacted grid stability. Policy measures such as deviation settlement mechanism, grid connectivity regulations, and ancillary services regulations are being issued to ensure efficient renewable integration and grid stability. These measures are driving the demand for utility-scale energy storage.
<img loading="lazy" decoding="async" class="aligncenter wp-image-61079" style="width: 70%;" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/07/image_2024_07_09T06_13_45_092Z.png" alt="India's Energy Storage Landscape" width="611" height="295" />
The highest BESS capacity was installed in Chhattisgarh, accounting for 54.8% of cumulative installed capacity.
The country&#8217;s operational pumped hydro storage capacity totaled 3.3 GW as of March 2024, per  Central Electricity Authority (CEA) data. Nearly 76% of the country&#8217;s operating capacity is in Telangana and West Bengal.
As of March 2024, 1.6 GWh (~1 GW) of standalone BESS, 9.7 GW of renewable energy projects plus energy storage, and 78.1 GW of pumped hydro projects were in various stages of development (60 GW is under survey and investigation, and 18.1 is under development).
The highest capacity of standalone BESS under development was in Rajasthan. Favorable provisions for energy storage capacity development in the state&#8217;s renewable energy policy and annual energy storage obligations (applicable through FY30) have been driving the state&#8217;s demand for energy storage.
To meet the demand for efficient energy utilization from renewable sources, various government agencies have issued tenders totaling 57 GW and auctioned 11.5 GW of energy storage projects, with or without renewable energy capacities, as of March 2024.
India&#8217;s Energy Storage Landscape report provides a detailed account of the landscape of energy storage systems projects in India. The report outlines the status of energy storage installations, key states for energy storage capacity development, tariff trends, the pipeline and installed capacity of standalone BESS projects, renewable energy plus BESS, and pumped storage. This report is valuable in understanding India&#8217;s energy storage market landscape, policies driving capacity additions, and the expansion trajectory.
Contact Mercom for pricing: <a href="mailto:reports@mercomindia.com" target="_blank" rel="noopener noreferrer">reports@mercomindia.com</a> or call us at +91-80-41211148.
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India's Energy Storage Landscape - Installed Battery Storage Capacity Reaches 219.1 MWh

In the first quarter (Q1) of the calendar year (CY) 2024, India added over 1.8 gigawatts (GW) of solar open access capacity, a twofold increase from 909.3 megawatts (MW) in Q4 2023, according to the newly released report, Q1 2024 Mercom India Solar Open Access Market Report. Installations increased 152% year-over-year (YoY).
In Q1, solar open access developers benefited from lower Chinese module prices and the suspension of the Approved List of Models and Manufacturers (ALMM) order for projects commissioned through March 2024. Many developers had delayed their module procurements until Q4 2023, anticipating lower prices, and subsequently commissioned their projects in Q1 2024, resulting in a sharp rise in installations. Additionally, lower power purchase agreement (PPA) prices, due to reduced project costs, further incentivized consumers to adopt solar open access.
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In Q1 2024, Rajasthan led solar open access capacity additions, accounting for almost 28% of the quarter&#8217;s installation. Andhra Pradesh and Maharashtra ranked second and third, accounting for 21% and nearly 12% of capacity additions.
<img loading="lazy" decoding="async" class="aligncenter wp-image-61079" style="width: 70%;" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/06/Screenshot-2024-06-06-113153.jpg" alt="SOLAR OPEN ACCESS MARKET REPORT " width="611" height="295" />
As of March 2024, the cumulative installed solar open access capacity stood at 14.3 GW.
Karnataka remained the top state for cumulative installations, accounting for nearly 30% of solar open access capacity added in the country as of March 2024. Maharashtra and Tamil Nadu ranked second and third, accounting for 13% and 11% of cumulative installations.
The pipeline of solar open access projects under development and in the pre-construction phase was over 18 GW as of March 2024. Almost 74% of pipeline projects were in Karnataka, Rajasthan, Maharashtra, Tamil Nadu, and Andhra Pradesh.
A detailed analysis of the solar open access market, retail electricity tariffs, PPA prices, and open access charges and costs for seventeen states has been covered in the report.
Key Highlights from Mercom India Research&#8217;s Q1 2024 India Solar Open Access Market Report
<ul>
<li>In Q1, 1.8 GW of solar open access was added, up 100% QoQ and 152% YoY</li>
<li>Rajasthan was the leading state, accounting for 28% of capacity additions in Q1 </li>
<li>Andhra Pradesh and Maharashtra contributed 21% and 12% to the quarter&#8217;s installations</li>
<li>As of March 2024, cumulative installed solar open access capacity was 14.3 GW</li>
<li>The top five states comprised over 71% of cumulative solar open access installations</li>
<li>As of March 2024, the pipeline of solar open access projects was 18 GW</li>
</ul>
<img loading="lazy" decoding="async" class="aligncenter wp-image-60617" style="width: 70%;" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/06/Infographics-OA+Q1+2024+(2).jpg" alt="Q1 2024 MERCOM INDIA SOLAR OPEN ACCESS MARKET REPORT Update_Inforgraphics" width="605" height="699" />
Contact Mercom for pricing: <a href="mailto:reports@mercomindia.com" target="_blank" rel="noopener noreferrer">reports@mercomindia.com</a> or call us at +91-80-41211148.
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Q1 2024 MERCOM INDIA SOLAR OPEN ACCESS MARKET REPORT - 1.8 GW INSTALLED IN Q1 2024

The Indian solar sector is one of the top three markets in the world driven by ambitious solar targets. The market is both very competitive and price sensitive and it is critical, now more than ever, to monitor the pricing of imported solar components.
Mercom has been consistently updating the industry on solar export and import (EXIM) trends in India. Due to increased demand for solar EXIM data, Mercom is now offering the India Solar EXIM tracker.
Mercom’s India Solar EXIM Tracker (updated monthly) provides information on crucial data sets and shipment details, straight from the selected ports. The exhaustive tracker is a must-have tool to keep up with current trends based on HS codes. The tracker can be customized based on needs.
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The share of renewable energy in the overall power mix in India is growing fast and so are the regulatory and policy changes that support renewables. It has become more important than ever to keep track of changing policies by the hour that could affect not only your corporate strategy and decision making but your bottom line.
Mercom is now bringing you regular updates on the regulatory changes affecting the renewable energy sector as it happens. Separate real-time alerts will be sent for important policy updates as it happens.
Call us for pricing and details: +91.80.4121.1148 or email: <a href="mailto:info@mercomindia.com">info@mercomindia.com</a>.
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Mercom's Renewable Energy Regulatory Updates

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India is one of the top solar markets in the world and India’s cumulative installed solar capacity has surpassed 66 GW as of June 2023. The country’s utility-scale project development pipeline stood at over 67 GW as of June 2023, with an additional 62 GW of projects tendered awaiting auction. Any solar company with growth aspirations cannot ignore the Indian solar market. While our <a href="https://mercomindia.com/product/india-solar-project-tracker/" target="_blank" rel="noopener noreferrer">solar project tracker</a> gives a close-up view of large-scale projects and our <a href="https://mercomindia.com/product/india-solar-tender-tracker/" target="_blank" rel="noopener noreferrer">tender tracker</a> let’s you stay on top of upcoming opportunities, our market share report gives you a comprehensive understanding of the competitive landscape.
It is impossible to have a market strategy without knowing the market and the players. Our Market Share Tracker gives you insights into your competitors and their growth rates so you can adjust your strategies accordingly. Our Solar Market Share report is updated with all the top players, installations, shipment figures, and growth rates.
Who needs this:
Companies that develop solar modules, trackers, inverters, BOS, O&amp;M and asset management companies, EPC, PV testing and certification providers, and other vendors looking to grow in the Indian Solar Market and monitor competitors. This is a critical report for project developers, investors and companies looking for acquisition opportunities and that need to understand the competitive landscape.
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Mercom's INDIA SOLAR MARKET SHARE TRACKER

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With almost 170 GW of solar tenders of all sizes announced over the last two years, it is more important than ever to stay on top of tender activity – Mercom makes it easy! We monitor and alert you to new tenders, so you can focus on your core business.
Mercom’s India solar tender tracker is an exhaustive list of large-scale solar and rooftop solar project tenders announced by government agencies, defense, railways, private sector companies, and others. Mercom’s Tender Tracker is updated frequently and includes a comprehensive list of tenders released, including the issuer name, policy, type of tender and project, capacity, deadline, location, and more.
Who needs this: project developers, engineering firms, EPCs, manufacturers, O&amp;Ms, component suppliers, BOS companies, financial institutions, and other companies looking to build a strong market presence and participate in one of the most dynamic sectors in India.
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MERCOM's INDIA SOLAR TENDER TRACKER

Mercom’s proprietary India solar project tracker is the most comprehensive database of large-scale solar projects covering commissioned and under-development projects from the beginning of National Solar Mission. The sortable project tracker includes details such as project developer, size, region and other details as available such as PPA signing, commissioning dates, tariff, offtaker etc. These trackers are customizable based on needs.
Who needs this – Financial institutions lending to projects as well as refinancing existing projects. Solar module, tracker, inverter, BOS, O&amp;M, EPC and other vendors who want to sell to projects. Project developers, Investors and Companies looking for acquisition opportunities.
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