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 1: Total installed and pipeline capacity by offtake, 30 June 2023, MW
Source: BRIDGE TO INDIA research, MNRE
Note: Only ground-mounted grid connected projects above 1 MW (AC) are considered. Data includes solar capacity share
in solar-wind hybrid projects. All capacity numbers in this report are stated in MW AC, unless stated otherwise.
India is estimated to have added total solar power capacity of 2,321 MW in Q2 2023, 12% drop over earlier quarter, taking total installed capacity to 73,212 MW. Capacity addition was split between utility scale, rooftop solar and off-grid solar at 1,527 MW, 679 MW and 115 MW respectively. Falling module prices are expected to provide a significant boost to capacity addition over the next two years.