India Solar Map 2024 is an info-graphic report covering growth of ground-mounted solar sector – national and state wise solar installation growth, ground-mounted solar EPC cost, player wise breakup of ALMM capacity, portfolio details of top 10 developers and trend of solar allocations. As of December, total ground-mounted solar installations reached 80,879 MW, reflecting a 20% CAGR since 2019.
Figure: Solar power capacity addition, MW
Source: Crisil – Bridge To India research
Key highlights:
- Rajasthan, Gujarat and Karnataka are the top three states for installed capacity as of December 2024, with combined market share of 56%.
- Adani, Jinko, Sungrow and Adani were the top players across project development, module supply, inverter supply and EPC businesses respectively for projects commissioned in 2024.
- Average EPC costs for utility scale projects in 2024 using imported cells and India-based cells were INR 25.1/Wp and INR 33.8/ Wp respectively.
- ALMM capacity as of December 2024 stands at 63,207 MW with Waaree being the top module manufacturer.
- Adani ranked as the leading developer as per solar portfolio with capacity of 21,653 MW followed by Avaada and NTPC.
