Loading...

India Renewable Compass | Q3 2024

India Renewable Compass | Q3 2024


17 December 2024 | BRIDGE TO INDIA

India Renewable Compass | Q3 2024

This report provides a detailed update of all key sector developments and trends in the quarter – capacity addition, leading players, tenders and policy announcements, equipment prices, financial deals and other market developments. It also provides market outlook for the next two quarters.

Figure: Total installed and pipeline capacity by offtake, September 30, 2024, MW

Source: CRISIL-BRIDGE TO INDIA research, MNRE
Note: All project capacity numbers in this report are stated in AC MW, unless noted explicitly otherwise.

Key highlights from the report:

  1. India is estimated to have added total renewable power capacity of 5,530 MW in Q3 2024, 29% rose over previous quarter, taking total installed capacity to 144,346 MW.
  2. New capacity addition for solar was split 40:26:27:7 between utility scale, open access, rooftop, and off-grid at 2,052 MW, 1,322, 1,377 MW and 346 MW respectively. Wind added over 432 MW in the quarter.
  3. Rajasthan was the largest state by commissioning capacity, followed by Gujarat, Tamil Nadu and Karnataka.
  4. Project tender issuance rose by 25% q-o-q, totalling to 22,000 MW across 33 new tenders.
  5. China’s reduction of tax rebates on aluminium and copper, along with anti-dumping duties shall further prevent decline in module prices.

Recent reports

India PV Module Intelligence Brief | Q3 2024

India PV Module Intelligence Brief | Q3 2024

This report encapsulates quarterly trends in module demand and supply, import and domestic production volumes, supplier market share, break-up by technology and rating, global market scenario, pricing across the value chain, key policy developments and market outlook.

India Corporate Renewable Brief | Q3 2024

India Corporate Renewable Brief | Q3 2024

This report provides a quarterly update on key trends and developments in the corporate renewable market including capacity addition, key players, policy issuances, financing, equipment prices and other market trends.

India Solar Rooftop Map | June 2024

India Solar Rooftop Map | June 2024

India Solar Rooftop Map is an info-graphic report providing a snapshot of rooftop solar market in India – capacity addition across states and consumer segments, market share of leading players and other key trends. Total rooftop solar capacity is estimated to have reached 16,914 MW by June 2024. Total new installations in year-ending June 2024 are estimated at 4,151 MW, up a staggering 73% over previous year.

Powering up renewables with battery energy storage systems

Powering up renewables with battery energy storage systems

India’s battery energy storage systems (BESS) market is poised for significant expansion, driven by ambitious renewable energy (RE) targets and an increasing need for grid stability. Government initiatives and technological advancements are propelling this growth. However, supply chain risks and cost challenges remain.

India Renewable Map | June 2024

India Renewable Map | June 2024

This info-graphic report provides a complete overview of the renewable sector including solar and wind installed capacity, leading players and their market shares, tariff trends and other market trends. India’s total solar and wind capacity reached 117,085 MW by 30 June 2024. New capacity addition in the last 12 months was 14,238 MW, increased by 32% y-o-y.

India PV Module Intelligence Brief | Q2 2024

India PV Module Intelligence Brief | Q2 2024

This report encapsulates quarterly trends in module demand and supply, import and domestic production volumes, supplier market share, break-up by technology and rating, global market scenario, pricing across the value chain, key policy developments and market outlook.

To top