India Added Around 3.6 GW of Solar Capacity in CY Q2 2022 (Solar PV Installations Crossed 8 GW in 1H CY 2022, Y-o-Y growth of 76%) – EQ Mag Pro

India added 3,568 MW of Solar PV installed capacity (utility & rooftop) in the second quarter (Q2) of the calendar year (CY) 2022, down by 22% compared to about 4.5 GW installed in CY Q1 2022. Year-over-year (YoY) installations in Q2 surged by 78%.

In the first half of CY 2022 (6M 2022), India added over 8.1 GW of Solar PV capacity, a 76% increase Y-o-Y compared to around 4.6 GW installed in the same period in 6M CY 2021.

The market becomes very competitive in Q2 2022, so many projects that were not able to get commissioned in 2021 during the lock-down period are commissioning in 2022. But, the most awaited BCD has been imposed from April 2022, and the developers, as well as suppliers, were in a great dilemma to find a way to bypass these tariff barriers. The installations might get affected in Q3 & Q4 2022 as developers have to pay extra costs for Chinese modules due to the 40% duty on the Solar panels, on the other hand, project developers also have the pressure to commission their pending project on the due date felling before December 2022 as JNNSM target of 100 GW will come to an end in 2022.

In Q2 2022, utility-scale installations accounted for 88% of the total Solar PV installed capacity, which was down by 25% from Q1 2022, when the installations were around 4.16 GW. The installations in Q2 2022 could be more but epidemic prevention and containment policies in China since March 2022 have resulted in logistics congestion and sharp reductions in transport capacity, which further increased cost pressures.

Renewable capacity additions continue to increase at a rapid pace in India, accounting for approximately 28.3 % of India’s power capacity mix at the end of June 2022. India’s total installed power capacity stood at over 403.75 GW at the end of the second quarter of the calendar year 2022 from all the sources, with renewables (excluding Hydro) accounting for 114.06 GW, compared to cumulative renewable energy installations of 109.88 GW at the end of March 2022.

Rajasthan maintains the top Solar state in India both in terms of Solar power generation capacity and Renewable, overtaking Karnataka and Gujarat. As of June 2022, the top 10 states accounted for about 93% of the country’s cumulative Solar power installed capacity.

Rajasthan is also the top Solar PV generation capacity state and accounted for about 34.18% of the total Solar PV generation capacity in the country by June 2022, followed by Karnataka with 13.73%. Gujarat with 10.15%

According to the report, India added close to 3.56 GW of Solar power capacity in the second quarter of CY 2022. Among Renewable (excluding Hydro), Solar dominates among the renewable capacity additions as of Q2 2022 accounting for over 50.6%, followed by Wind power, which contributed 35.8%. Renewables (excluding large hydro) made up 28.25% of total power capacity additions as of 30th June 2022.

In Q2 2022, India added around 438 MW of Solar rooftop capacity, an increase of 13% compared to 388 MW installed in Q1 2022. Y-o-Y installations increased by 7% compared to 408 MW Solar PV installed capacity in Q2 2021

In the first half of CY 2022, India added 8.1 GW of Solar, a 76% increase compared to the same period last year same period.

Key Highlights from Q2 CY 2022 India Solar Report

– In Q2 2022, India added over 3.56 GW of Solar PV capacity, 22% lower than the previous quarter.

– Cumulative Utility-scale Solar installations reached 48.9 GW as of Q2 2022.

– The top 10 states accounted for nearly 93% of total Solar capacity cumulatively.

– In Q2 2022, 88% of Solar installations came from the utility-scale, the rest 12% from the rooftop.

– Rajasthan is the top state for cumulative Solar installations with 14.06 GW, followed by Gujarat and Karnataka.

– Year-over-year, rooftop Solar installation has increased by 7%. Total Solar PV rooftop Installations cross 7 GW.

– Cumulative Renewable Capacity reached (including Hydro) 160.9 GW as of June 2022

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