ieefa

Gujarat and Karnataka are well prepared to continue the electricity transition and have integrated renewables into their power sectors.

Solar PV accounted for 55.8% of the total power generation capacity added to the Indian grid in 2023, including fossil fuel additions which rose considerably over the year in response to growing electricity demand.

India’s accelerated pace with its domestic solar manufacturing capacity is set to reach 110GW of solar PV module capacity per year by 2026.

With a recent wave of policies and renewable reforms, investments are set to be boosted in India with solar-wind hybrid projects and corporate power purchase agreements among key trends.

Seven key Asian countries collectively saved approximately US$34 billion in fossil fuel costs in the first half of 2022 through solar generation, according to research from Ember, the Centre for Research on Energy and Clean Air (CREA) and the Institute for Energy Economics and Financial Analysis (IEEFA).

India’s residential rooftop solar capacity is set to increase 60% by the end of fiscal year 2023, according to a report by the IEEFA and JMK Research.

Analysts have flagged concerns over a lack of clarity from Indonesia’s government related to power exports, potentially spelling trouble for project developers looking to transmit renewables generation from the country to neighbouring Singapore.

Large developers of hybrid projects in India could see a 17% equity IRR by implementing five measures, according to a report by the IEEFA.