Solar photovoltaic projects comprised 21.2% of India’s total installed power capacity and 46.8 % of the total installed renewable capacity at the end of December 2024. India’s installed solar capacity rose 10.5% quarter-over-quarter (QoQ) and 57.2% year-over-year (YoY).

Renewables, including large hydroelectric power projects, comprised 45.4 % of the country’s cumulative installed power capacity, with 209.7 GW installed at the end of the calendar year (CY) 2024. The country’s installed renewable energy capacity rose 5.1% QoQ and 25.7% YoY.

India’s installed power capacity was 462.2 GW at the end of CY 2024, up 2.6% from 450.7 GW as of September 2024, according to data from Mercom’s India Solar Project Tracker, Ministry of New and Renewable Energy (MNRE), and Central Electricity Authority (CEA).

Large hydro, with a total installed capacity of 47 GW, accounted for nearly 10.2% of the total installed power capacity as of December 2024. No large hydro projects were commissioned in Q4 2024. The country’s installed large hydro capacity increased by 25.2% YoY during the year.

Wind installations in India stood at 48.2 GW, making up 10.4% of the country’s overall installed power capacity. The country’s wind energy capacity rose 1.7% QoQ and 7.7% YoY.

Installed biomass and small hydro totaled 10.7 GW and 5.1 GW, contributing 2.3% and 1.1% to the total installed power capacity as of December 2024. The country’s biomass-based power capacity rose 0.03% QoQ and 4.5% YoY, whereas the installed capacity for small hydropower was up 0.5% QoQ and 2.3% YoY.

Conventional Energy Sources

At the end of 2024, the country’s installed power capacity for conventional energy sources stood at 252.6 GW, accounting for 54.6% of all installations. The installed capacity rose 0.5% QoQ and 2% YoY to fulfill the baseload requirements of the country’s increasing power demand. However, the share of conventional power reduced from nearly 58% as of December 2023 to 54.6% as of December  2024.

The electricity generated from thermal sources includes coal (45.9%), gas (5.4%), nuclear (1.8%), lignite (1.4%), and diesel (0.13%). The increase in installed conventional power capacity was primarily due to additions to the country’s coal and nuclear power capacity. The installed capacity of coal power rose 0.6% QoQ and 2.2% YoY. The country did not add any nuclear power capacity in Q4. However, the installed nuclear capacity rose 9.4% YoY during the year.

With the increasing share of intermittent power sources, including solar and wind, in the country’s power mix, the Central Electricity Regulatory Commission reiterated that the approved methodology in the National Load Despatch Centre’s detailed procedure applies to all deficits in the Deviation Settlement Mechanism Pool Account. The commission directed the distribution companies to ensure timely payment of dues to avoid delays in compensating ancillary service providers and maintain grid stability.