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India installed 7.5 GW of solar capacity in the calendar year (CY) 2023, a 44% decline from 13.4 GW in CY22, according to the latest reports by Mercom India. The research said that large-scale solar installations dropped 51% YoY to 5.8 GW in 2023, down from 11.7 GW in 2022.
“Extensions granted to several large-scale projects and delays primarily due to land and transmission issues impacted capacity additions during the year. Large-scale solar accounted for 77.2% of annual solar capacity additions, and rooftop solar contributed 22.8%,” it added.
It said that in Q4 2023, India added 1.8 GW of solar capacity, a 6.6% decrease compared to the 1.9 GW installed in Q3 2023 while installations fell 41% compared to 3.1 GW installed in Q4 2022.
As of December 2023, the cumulative installed solar capacity stood at 72 GW. The report said that utility-scale projects accounted for 85.4%, and rooftop solar accounted for 14.6% of cumulative installations. India's large-scale solar project pipeline stood at 105.3 GW with another 70.6 GW of projects tendered and pending auction at the end of 2023.
India's installed renewable energy capacity, including large hydropower projects, stood at 179.5 GW, accounting for 42% of the overall power mix at the end of December 2023. The report added that solar energy projects accounted for 48.5% of all new power capacity added in 2023.
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