India’s installed power capacity was 450.7 GW as of September 2024. Renewable energy accounted for 44.3% of the country’s power capacity mix, with 199.5 GW installed at the end of Q3 2024, according to data from the Central Electricity Authority (CEA), Ministry of New and Renewable Energy (MNRE), and Mercom’s India Solar Project Tracker.

In the third quarter (Q3) of the calendar year (CY) 2024, solar energy accounted for 19.6% of the country’s total installed power capacity and 44.3% of the installed renewable capacity.

During the same quarter last year, solar energy was at 16.5% of the total installed power capacity and 39.4% of renewable energy. The installations in the first half of the year have already surpassed all previous half-yearly and annual installations.

Renewable energy’s (177.1 GW) contribution to the overall power mix was 41.8% at the end of Q2 2024.

In a quarter-over-quarter comparison, solar power made up 19.4% of the total installed power capacity and 44.2% of the installed renewable capacity until the end of Q2 2024. Renewable energy’s (196.4 GW) share was 44% of the installed power capacity.

India generated approximately 32 billion units (BU) of solar power during the quarter compared to 27 BU in Q3 2023.

Both wind and large hydro accounted for 10.5% of each of the country’s cumulative installed power capacity at the end of September.

The country’s installed wind energy capacity rose 1.5% QoQ from 46.6 GW and 7.2% YoY from 44.2 GW.

Large hydro’s contribution to the power mix remained unchanged in the QoQ comparison. However, it rose 0.2% from 46.8 GW at the end of September 2023.

Biomass and small hydropower contributed 2.4% and 1.1%, respectively. The installed capacity of small hydropower increased by 1.4% QoQ and 1.9% YoY. The operating capacity of biomass power projects was up 3.6% QoQ and 4.5% YoY.

Waste-to-energy projects contributed a meager 0.1% to the country’s power mix. The installed capacity of waste-to-energy projects rose 1.8% QoQ and 5.4% YoY.

Energy from conventional sources

As of September 2024, the total installed capacity of conventional power sources stood at 251.2 GW, accounting for 55.7% of the power mix compared to 56% as of June 2024.

Coal-based thermal power constituted 46.8%, gas 5.5%, nuclear 1.8%, lignite 1.5%, and diesel 0.13% of the total installed power capacity. Coal remained the leading power source at 211 GW.

In June, the Ministry of Power highlighted support from renewable energy sources, especially solar during solar hours and wind during non-solar hours, in meeting the summer demand. Renewables accounted for 15% of total power generated on May 30, 2024, when the daytime peak power demand scaled a new high of 250 GW. Thermal generation met 176 GW of the peak demand.

To address the intermittency in renewable energy generation, particularly solar and wind, the MoP revised its budgetary support provisions for hydroelectric and pumped storage projects (PSP), allocating a total of ₹124.6 billion (~$1.48 billion). The ministry will support projects of a cumulative hydroelectric capacity of 31 GW, including 15 GW of PSP capacity from the financial year 2024-25 to 2031-32.