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:
- 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.
- 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.
- Rajasthan was the largest state by commissioning capacity, followed by Gujarat, Tamil Nadu and Karnataka.
- Project tender issuance rose by 25% q-o-q, totalling to 22,000 MW across 33 new tenders.
- China’s reduction of tax rebates on aluminium and copper, along with anti-dumping duties shall further prevent decline in module prices.