India to add 22.4GW solar capacity in 2024 – JMK Research

Facebook
Twitter
LinkedIn
Reddit
Email
Overview of an utility-scale solar PV project from Gensol Solar Group
By the end of the year, utility-scale additions are expected to reach 17GW. Credit: Gensol Solar Group.

India is on track to install 22.4GW of new solar PV generation capacity in 2024 according to energy consultancy firm JMK Research.

Data in JMK’s Q3 2024 renewable energy update showed that India installed around 13.2GW of new utility-scale solar capacity from January to September this year, a roughly 161% increase on the same period in 2023. It added 3.2GW of rooftop solar capacity in the same period, a 7% increase.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

By the end of the year, utility-scale additions are expected to reach 17GW, rooftop 4GW and another 1.4GW of off-grid capacity.

The numbers have increased sequentially, (quarter-by-quarter) as well. Around 3.7GW of utility-scale solar was added in Q3 2024, which JMK said was a 71.4% increase on Q2 figures.

The upshot of these figures is that India’s cumulative renewable energy installations passed 200GW as of September. Solar PV accounts for 45% of the 201.46GW total – by far the largest portion for any single technology, followed by wind and large hydro with a 23% share each.

The current pipeline of combined capacity of solar, wind, wind-solar hybrid and storage projects is around 111.2GW, JMK said, which is “likely” to be commissioned in the next four to five years.

The states of Rajasthan and Gujarat have continued to lead solar capacity additions in 2024.

This year has seen a resurgence in India’s solar installations after two relatively fallow years in 2022 and 2023. Market research firm Mercom Capital found that solar capacity additions increased by over 250% in the first half of the year compared with 2023.

Indian solar manufacturing

JMK also published quarterly data on India’s PV manufacturing industry. Recent months have seen a flurry of capacity announcements and expansions in the sector, as India attempts to position itself as a significant alternative to China’s dominance of the solar supply chain.

The data shows two major trends: a changing landscape of module exports from India and the notable presence of domestic producers in the Indian market.

While India still imports more solar cells and modules than it exports, JMK data shows that the three leading manufacturers have exported between 17% and 57% of their produced capacity so far this year. Adani, Waaree and Vikram Solar led module production capacity in India this year.

PV Tech Premium published a feature last week looking into the role that India’s solar manufacturing capacity could play on the global stage. Expansions in cell capacity could see India become a major supplier for US module assembly plants, as the latter continues to impose trade sanctions on Chinese-backed operations.

The JMK report also showed that domestic manufacturers accounted for 66% of total shipments in Q3, with “Chinese/International” companies accounting for 34%. Waaree was the dominant supplier in the third quarter, contributing around 20% of the domestic market.

JMK’s full report can be read here.

7 October 2025
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 7-8 October 2025 is our third PV CellTech conference dedicated to the U.S. manufacturing sector. The events in 2023 and 2024 were a sell out success and 2025 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.

Read Next

June 30, 2025
Voting on the US tax reconciliation bill is expected to begin in the Senate today, following a draft published on Friday that hit clean energy tax credits hard.
June 30, 2025
Australian module manufacturer Tindo Solar has secured a 30MW solar module supply agreement to power Australia's first "net zero pipeline”.
June 27, 2025
Indian solar manufacturer Premier Energies has commissioned its 1.2GW TOPCon solar cell manufacturing line at Fab City, Hyderabad, Telangana.
June 27, 2025
Renewables investment platform Nexwell Power has signed a round of power purchase agreements (PPAs) with “one of the largest” US tech companies for solar PV capacity to be built in Spain.
June 27, 2025
Statkraft has signed PPAs with Better Energy to purchase energy from two solar power plants in Poland with a total capacity of 64GWh.
June 27, 2025
Solar developer Lightsource bp has signed a power purchase agreement (PPA) with a subsidiary of Taiwanese energy firm HD Renewable Energy (HDRE).

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
June 30, 2025
10am PST / 6pm BST
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Media Partners, Solar Media Events
July 2, 2025
Bangkok, Thailand
Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico