Wedoany.com Report-Apr. 12, In 2024, India made significant strides in solar energy, installing 18.5 gigawatts (GW) of utility-scale solar and 4.59 GW of rooftop solar, as reported by JMK Research & Analytics in its Annual India Solar Report Card. Rajasthan topped the list with 7.5 GW of annual solar installations, followed by Gujarat with 5.1 GW and Tamil Nadu with 1.4 GW. Looking ahead, JMK Research forecasts that India will add 22.8 GW of utility-scale solar and 5.8 GW of rooftop or onsite solar in 2025. By December 31, 2024, India’s commissioned utility-scale solar capacity reached 79.2 GW, with an additional 71.8 GW in development following completed auctions.

On the manufacturing front, Waaree Energies led module shipments in India, securing a 14.1% market share, ahead of Jinko at 10.5% and Longi at 10.3%. A notable shift occurred in 2024 due to the Approved List of Models and Manufacturers (ALMM) order, effective from April 1, which prioritized domestically produced modules for government-supported projects. This measure aimed to strengthen local industry and maintain quality standards, reducing reliance on shipments from Chinese and international suppliers. In exports, Adani took the lead among photovoltaic (PV) module producers, followed by Waaree and First Solar, with the latter exporting 67% of its India-made modules in 2024.

Inverter supplies were dominated by Sungrow, which captured a 32.5% market share, while Sineng held 14.6%, and TBEA and Fimer each accounted for 13.6%. For utility-scale solar projects tied to power purchase agreements (PPAs) with distribution companies (Discoms), Adani emerged as the leader, developing 23.1% of the 10.9 GW commissioned in 2024. ReNew and O2 Power also played key roles in this segment. In the open-access solar capacity market, Amplus, Brookfield, and Tata Power stood out as top developers.

For engineering, procurement, and construction (EPC) services in utility-scale projects, Jakson Green, Tata Power, and Sterling & Wilson were the leading third-party contractors. In the rooftop solar sector, Tata Power Solar, Mahindra Solarize, and Amplus took the forefront in driving development throughout the year.

India’s solar sector in 2024 showcased a balanced growth trajectory, with strong contributions from various regions and companies. The ALMM policy reinforced domestic production, while leading firms across manufacturing, project development, and exports solidified the country’s position in the global renewable energy landscape.