India adds 15 GW solar capacity in H1FY24, 282% rise from H1FY23: Report.

According to a report by Mercom Capital, India's solar industry has seen significant growth, with a record 15 GW of solar capacity added in the first half of 2024. This marks a 282% increase compared to the same period in 2023. As of June 2024, India's total installed solar capacity reached 87.2 GW, with utility-scale projects accounting for 87% and rooftop solar accounting for over 13%. Solar energy now represents 19.5% of India's total power capacity and over 44% of its renewable energy capacity. The average cost of large-scale solar projects has decreased by 26% year-on-year and 2% quarter-on-quarter. The CEO of Mercom Capital Group emphasized the need to address challenges related to component supply and grid connectivity to achieve the target of 280 GW by 2030. [Extracted from the article]