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India had a cumulative installed Battery Energy Storage System (BESS) capacity totaling 219.1 MWh as of March 2024, according to India&#8217;s Energy Storage Landscape report by Mercom India Research. Capacity installations in Q1 2024 totaled 120 MWh (40 MW).
Solar photovoltaic (PV) systems combined with battery energy storage systems (PV + BESS) accounted for 90.6% of the total installed capacity.
<div class="cms-button-wrap vc_btn3-container more-art-btn vc_btn3-center" style="text-align: center;"><a class="vc_general cms-button md cms-default btn-icon-animate vc_btn3-block green" style="color: white !important; text-transform: inherit; font-weight: bold; font-size: 18px; background: #ed8b23; padding: 10px 17px;" title="" href="https://www.mercomindia.com/product-form/india-energy-storage-landscape-executive-summary-form" rel="noopener noreferrer">Download Executive Summary</a></div>
The rapid addition of intermittent renewable energy sources, solar and wind, which accounted for 28.9% of the country&#8217;s electricity capacity as of March 2024,  has significantly impacted grid stability. Policy measures such as deviation settlement mechanism, grid connectivity regulations, and ancillary services regulations are being issued to ensure efficient renewable integration and grid stability. These measures are driving the demand for utility-scale energy storage.
<img loading="lazy" decoding="async" class="aligncenter wp-image-61079" style="width: 70%;" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/07/image_2024_07_09T06_13_45_092Z.png" alt="India's Energy Storage Landscape" width="611" height="295" />
The highest BESS capacity was installed in Chhattisgarh, accounting for 54.8% of cumulative installed capacity.
The country&#8217;s operational pumped hydro storage capacity totaled 3.3 GW as of March 2024, per  Central Electricity Authority (CEA) data. Nearly 76% of the country&#8217;s operating capacity is in Telangana and West Bengal.
As of March 2024, 1.6 GWh (~1 GW) of standalone BESS, 9.7 GW of renewable energy projects plus energy storage, and 78.1 GW of pumped hydro projects were in various stages of development (60 GW is under survey and investigation, and 18.1 is under development).
The highest capacity of standalone BESS under development was in Rajasthan. Favorable provisions for energy storage capacity development in the state&#8217;s renewable energy policy and annual energy storage obligations (applicable through FY30) have been driving the state&#8217;s demand for energy storage.
To meet the demand for efficient energy utilization from renewable sources, various government agencies have issued tenders totaling 57 GW and auctioned 11.5 GW of energy storage projects, with or without renewable energy capacities, as of March 2024.
India&#8217;s Energy Storage Landscape report provides a detailed account of the landscape of energy storage systems projects in India. The report outlines the status of energy storage installations, key states for energy storage capacity development, tariff trends, the pipeline and installed capacity of standalone BESS projects, renewable energy plus BESS, and pumped storage. This report is valuable in understanding India&#8217;s energy storage market landscape, policies driving capacity additions, and the expansion trajectory.
Contact Mercom for pricing: <a href="mailto:reports@mercomindia.com" target="_blank" rel="noopener noreferrer">reports@mercomindia.com</a> or call us at +91-80-41211148.
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India's Energy Storage Landscape - Installed Battery Storage Capacity Reaches 219.1 MWh

In the first quarter (Q1) of the calendar year (CY) 2024, India added over 1.8 gigawatts (GW) of solar open access capacity, a twofold increase from 909.3 megawatts (MW) in Q4 2023, according to the newly released report, Q1 2024 Mercom India Solar Open Access Market Report. Installations increased 152% year-over-year (YoY).
In Q1, solar open access developers benefited from lower Chinese module prices and the suspension of the Approved List of Models and Manufacturers (ALMM) order for projects commissioned through March 2024. Many developers had delayed their module procurements until Q4 2023, anticipating lower prices, and subsequently commissioned their projects in Q1 2024, resulting in a sharp rise in installations. Additionally, lower power purchase agreement (PPA) prices, due to reduced project costs, further incentivized consumers to adopt solar open access.
<div class="cms-button-wrap vc_btn3-container more-art-btn vc_btn3-center" style="text-align: center;"><a class="vc_general cms-button md cms-default btn-icon-animate vc_btn3-block green" style="color: white !important; text-transform: inherit; font-weight: bold; font-size: 18px; background: #ed8b23; padding: 10px 17px;" title="" href="https://www.mercomindia.com/product-form/q1-2024-mercom-india-solar-open-access-market-report-executive-summary-form" rel="noopener noreferrer">Download Executive Summary</a></div>
In Q1 2024, Rajasthan led solar open access capacity additions, accounting for almost 28% of the quarter&#8217;s installation. Andhra Pradesh and Maharashtra ranked second and third, accounting for 21% and nearly 12% of capacity additions.
<img loading="lazy" decoding="async" class="aligncenter wp-image-61079" style="width: 70%;" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/06/Screenshot-2024-06-06-113153.jpg" alt="SOLAR OPEN ACCESS MARKET REPORT " width="611" height="295" />
As of March 2024, the cumulative installed solar open access capacity stood at 14.3 GW.
Karnataka remained the top state for cumulative installations, accounting for nearly 30% of solar open access capacity added in the country as of March 2024. Maharashtra and Tamil Nadu ranked second and third, accounting for 13% and 11% of cumulative installations.
The pipeline of solar open access projects under development and in the pre-construction phase was over 18 GW as of March 2024. Almost 74% of pipeline projects were in Karnataka, Rajasthan, Maharashtra, Tamil Nadu, and Andhra Pradesh.
A detailed analysis of the solar open access market, retail electricity tariffs, PPA prices, and open access charges and costs for seventeen states has been covered in the report.
Key Highlights from Mercom India Research&#8217;s Q1 2024 India Solar Open Access Market Report
<ul>
<li>In Q1, 1.8 GW of solar open access was added, up 100% QoQ and 152% YoY</li>
<li>Rajasthan was the leading state, accounting for 28% of capacity additions in Q1 </li>
<li>Andhra Pradesh and Maharashtra contributed 21% and 12% to the quarter&#8217;s installations</li>
<li>As of March 2024, cumulative installed solar open access capacity was 14.3 GW</li>
<li>The top five states comprised over 71% of cumulative solar open access installations</li>
<li>As of March 2024, the pipeline of solar open access projects was 18 GW</li>
</ul>
<img loading="lazy" decoding="async" class="aligncenter wp-image-60617" style="width: 70%;" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/06/Infographics-OA+Q1+2024+(2).jpg" alt="Q1 2024 MERCOM INDIA SOLAR OPEN ACCESS MARKET REPORT Update_Inforgraphics" width="605" height="699" />
Contact Mercom for pricing: <a href="mailto:reports@mercomindia.com" target="_blank" rel="noopener noreferrer">reports@mercomindia.com</a> or call us at +91-80-41211148.
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Q1 2024 MERCOM INDIA SOLAR OPEN ACCESS MARKET REPORT - 1.8 GW INSTALLED IN Q1 2024

India added rooftop solar capacity totaling 367 megawatts (MW) in the first quarter (Q1) of the calendar year (CY) 2024. The installations fell nearly 10% quarter-over-quarter (QoQ) from 406 MW and over 24% year-over-year (YoY) from 485 MW, according to Mercom&#8217;s Q1 2024 India Rooftop Solar Market Report
<div class="cms-button-wrap vc_btn3-container more-art-btn vc_btn3-center" style="text-align: center;"><a class="vc_general cms-button md cms-default btn-icon-animate vc_btn3-block green" style="color: white !important; text-transform: inherit; font-weight: bold; font-size: 18px; background: #ed8b23; padding: 10px 17px;" title="" href="https://www.mercomindia.com/product-form/q1-2024-mercom-india-rooftop-solar-market-report-executive-summary-form" rel="noopener noreferrer">Download Executive Summary</a></div>
Capacity additions in the quarter fell as several residential consumers waited to add capacity under PM – SURYA GHAR: MUFT BIJLI YOJANA, which significantly increased the central subsidy for systems between 1 kW and 3 kW. The large number of applications received within a month of the launch of the program led to technical issues in application processing and delayed installations. Additionally, the rise in prices of modules complying with domestic content requirement (DCR) significantly affected the capacity additions under the SURYA Gujarat program, further impacting the quarterly capacity additions.
Installations under the capital expenditure (CAPEX) model accounted for 69% of the capacity additions in the quarter. Capacity additions under the operational expenditure or the renewable energy service company (OPEX/RESCO) model contributed to the rest.
The industrial segment led the quarterly capacity additions, comprising almost 57% of the installations. Commercial, residential, and government segments accounted for around 28%, 14%, and 1.1% of the capacity additions.
<img loading="lazy" decoding="async" class="aligncenter size-full wp-image-60862" style="width: 70%;" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Screenshot-2024-05-30-110402.jpg" alt="" width="969" height="449" />
Gujarat, Maharashtra, Haryana, Kerala, and Karnataka led the addition of rooftop solar capacity in the quarter. The top five states accounted for more than 67% of the quarter&#8217;s installations.
As of March 2024, India had a cumulative installed rooftop solar capacity of 10.8 GW.
Gujarat, Maharashtra, Rajasthan, Kerala, and Karnataka continued to be the leading states for cumulative installed rooftop solar capacity until March 2024.
The top 10 states comprised over 77% of the cumulative rooftop solar installations as of March 2024.
The average cost of rooftop solar systems fell for the sixth straight quarter and was down by more than 6% QoQ and nearly 22% YoY.
A comprehensive analysis of net metering policies across all Indian states and Union Territories is also included in the report.
Key Highlights from Mercom India Research&#8217;s Q3 2023 India Rooftop Solar Market Report
<ul>
<li>In Q1 2024, India added 367 MW of rooftop solar capacity, over a 24% drop YoY </li>
<li>Installations under the CAPEX model made up 69% of the quarter&#8217;s installation</li>
<li>Industrial consumers contributed to almost 57% of the installations in Q1 </li>
<li>Cumulative rooftop solar installations reached 10.8 GW as of March 2024</li>
<li>Gujarat and Maharashtra led the quarterly capacity additions and also remained the top states cumulatively</li>
<li>In Q1 2024, rooftop solar tenders totaled almost 817 MW, up 48% QoQ and 141% YoY</li>
<li>The average cost of rooftop solar systems fell 6% QoQ and nearly 22% YoY. </li>
</ul>
Contact Mercom for pricing: <a href="mailto:reports@mercomindia.com" target="_blank" rel="noopener noreferrer">reports@mercomindia.com</a> or call us at +91-080-41211148.
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MERCOM INDIA ROOFTOP SOLAR MARKET REPORT Q1 2024 – 367 MW INSTALLED IN Q1 2024

India installed over 10 gigawatts (GW) of solar capacity in the first quarter (Q1) of calendar year (CY) 2024, the highest amount to date for a quarter. Solar capacity additions rose 400% year-over-year (YoY) compared to over 2 GW installed in Q1 2023, according to the Q1 2024 India Solar Market Update Report by Mercom India Research
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Solar capacity additions were up 414% compared to nearly 2 GW added in Q4 2023.
Large-scale solar accounted for 9.7 GW, including 1.8 GW of open access solar projects. Solar capacity additions for large-scale projects rose 524% QoQ and 534% YoY.
<img loading="lazy" decoding="async" class="aligncenter wp-image-60583" style="width: 70%;" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Screenshot-2024-05-22-152253.jpg" alt="Solar Installations by Quarter (MW)" width="577" height="263" />
In Q1 2024, solar project installations surged due to various factors, including the commissioning of projects that were delayed from earlier quarters. Developers capitalized on falling module prices, suspension of the Approved List of Models and Manufacturers (ALMM) order, and grid approvals of solar projects previously hindered by the habitat of the Great Indian Bustard (GIB).
Rajasthan and Gujarat led large-scale solar installations in the quarter, accounting for 38% and 35% of the capacity additions. Madhya Pradesh ranked third, with 8%.
The average cost of large-scale solar projects fell 7% QoQ and 28% YoY, significantly improving the internal rate of return on these projects.
As of March 2024, India&#8217;s cumulative installed solar capacity stood at 82 GW.
Rajasthan had the highest cumulative installed large-scale solar capacity, accounting for 29% of the country&#8217;s total installations until March 2024. Gujarat and Karnataka followed with 14% each.
India&#8217;s large-scale solar project pipeline stood at 143 GW, with another 93 GW of projects tendered and pending auction at the end of Q1 2024.
Key Highlights from Mercom India Research&#8217;s Q3 2023 India Solar Market Update:
<ul>
<li>India added over 10 GW of solar capacity in Q1 2024, up 414% QoQ and 400% YoY</li>
<li>Solar accounted for 66% of new power capacity additions in Q1 2024 </li>
<li>Large-scale solar accounted for 96% of the quarterly installations, while rooftop solar contributed the rest</li>
<li>Rajasthan, Gujarat, and Madhya Pradesh led the quarterly large-scale solar capacity additions</li>
<li>India&#8217;s cumulative installed solar capacity stood at 82 GW as of March 2024. </li>
<li>India&#8217;s large-scale solar project pipeline stood at 143 GW, with another 93 GW of projects tendered and pending auction</li>
<li>In Q1 2024, tenders totaling 30.7 GW were announced, up 92% QoQ and 122% YoY</li>
<li>Solar projects amounting to 25 GW were auctioned in Q1 2024, up 229% QoQ and 2,957% YoY</li>
</ul>
<img loading="lazy" decoding="async" class="aligncenter wp-image-60617" style="width: 70%;" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Info+-+Q1+2024+-+Final+updtd.jpg" alt="Q3 2023 India Solar Market Update_Inforgraphics" width="605" height="699" />
Contact Mercom for pricing: <a href="mailto:reports@mercomindia.com" target="_blank" rel="noopener noreferrer">reports@mercomindia.com</a> or call us at +91-080-41211148 or +91-080-23560436.
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Q1 2024 INDIA SOLAR MARKET UPDATE - 10 GW INSTALLED IN Q1 2024

Mercom&#8217;s India Solar Market Leaderboard report covers market shares and rankings across the Indian solar supply chain in the calendar year (CY) 2023. It provides the most accurate and comprehensive coverage of India&#8217;s solar industry leaders.
The report highlights significant changes in the market share of solar companies in a year heavily impacted by the extension of several large-scale solar and wind-solar hybrid projects and the delays caused by the lack of transmission and land. Several new companies have made it to the top ten list for the first time, reflecting a dynamic solar market with significant market opportunities.
&nbsp;
<div class="cms-button-wrap vc_btn3-container more-art-btn vc_btn3-center" style="text-align: center;"><a class="vc_general cms-button md cms-default btn-icon-animate vc_btn3-block green" style="color: white !important; text-transform: inherit; font-weight: bold; font-size: 18px; background: #ed8b23; padding: 10px 17px;" title="" href="https://www.mercomindia.com/product-form/india-solar-market-leaderboard-2024-executive-summary-form" rel="noopener noreferrer">Download Executive Summary</a></div>
Also, our <a href="https://www.mercomindia.com/product/mercoms-india-solar-market-share-tracker">Market Share Tracker</a>, which gives insights into your competitors and their growth rates on a quarterly basis, is available in an excel format.
The report covers:
<ul>
<li>Top Utility-Scale Project Developers</li>
<li>Top Rooftop Solar Installers</li>
<li>Top Utility-Scale Solar EPC Companies</li>
<li>Top Solar Inverter Suppliers</li>
<li>Top Cell and Module Suppliers</li>
<li>Top Cell and Module Manufacturers</li>
<li>Top Open Access Solar Developers</li>
<li>Top Solar Tracker Suppliers</li>
<li>Top Solar Module Mounting Structure Suppliers</li>
<li>Top Robotic Solar Module Cleaning System Suppliers</li>
</ul>
Companies Covered in the report include:
Adani Green Energy | NTPC Renewable Energy | ReNew | Tata Power Company | ACME Solar | Avaada Energy | NLC India Green Energy | Sprng Energy | Ayana Renewable Power | Azure Power | UPC Renewables | Gujarat State Electricity Corporation | Rising Sun Energy (Yinson Holdings) | SJVN | Aditya Birla Renewables | Refex Group | Tata Power Solar | Fourth Partner Energy | Amplus Solar | CleanMax Enviro Energy | Roofsol Energy | Mahindra Solarize | Sunsure Energy | Gensol Engineering | Orb Energy | Havells India | SUNKIND | Ratan Green Energy Services | Hartek Solar | Candi Solar | Enerparc Energy | Sterling and Wilson Renewable Energy | L&amp;T Construction | Vikram Solar | Rays Power Infra | Bharat Heavy Electricals | Waaree Renewable Technologies | Jakson Green | Essens Renewable | Oriano | Prozeal Green Energy | Solarworld Energy Solutions | KPI Green Energy | Addwatt Power Solutions | Sterling and Wilson Renewable Energy | Mahindra Susten | Sungrow Power Supply | FIMER India | Sineng Electric | Huawei Technologies | TBEA Energy India | TMEIC | Ginlong (Solis) Technologies | Growatt New Energy | GoodWe | Hitachi Hi-Rel Power Electronics | SOFAR | NingBo Deye Inverter Technology | SolaX Power | Jinko Solar | LONGi Green Energy Technology | Trina Solar | JA Solar | Adani Solar | Waaree Energies | Canadian Solar | Risen Energy | ReneSola | Premier Energies | Saatvik Green Energy | Znshine Solar | Rayzon Solar | Goldi Solar | Gautam Solar | Emmvee Photovoltaic Power | Jakson Engineers | Econess Energy | SolarSpace | Lianyungang Shenzhou New Energy | CECCP Solar Energy | Jinneng Clean Energy Technology | First Solar | Canadian Solar | REC Solar | Aiko Solar | T.S Solar Energy | Tongwei Solar | Anhui Yingfa Desheng Technology | Lishui Zhanxin Import and Export | Guangdong Jinwan Gaojing Solar Energy Technology | Imperial Star Solar | Solar Long PV-Tech Cambodia | First Solar Power India | RenewSys India | Grew Energy | Pahal Solar | BVG Clean Energy | IB Solar | Insolation Energy | Australian Premium Solar | Novasys Geenergy | Icon Solar-en Power Technologies | Solarium Green Energy | Senza Solar | Cosmic PV Power | Aditi Solar | Panasonic Life Solutions | Powermax Energies | Jupiter International | Surana Solar | Euro Multivision | Bharat Electronics | Central Electronics | Arctech | GameChange Solar | Nextracker | Scorpius Trackers | SmartTrak Solar Systems | Photon Solar | Ganges Internationale | Deccan Energy | Purshotam Profiles | Goodluck India | SNS Corporation | Strolar Mounting Systems | Metalkraft Forming Industries | Bhavita Engineering | Raydean Industries | MTE Structures | ISHKON Industries | AmpIn Energy Transitions | O2 Power | Continuum Green Energy | Radiance Renewables | Velan Infra Project | Aegeus Technologies | Langfang Sol-Bright Photovoltaic Technology | Solabot Technologies | Airtouch Solar | Ecoppia | Skilancer Solar | LEAPTING | Vayu Solar | Photom Technologies | Restech Technologies (BloKleen Solar) | Solavio Labs
Know your competition and stay ahead of the game, get your copy of the Mercom India Solar Market Leaderboard report today!
Call us for pricing and details: +91.80.4121.1148 or email us at: <a href="mailto:info@mercomindia.com">info@mercomindia.com</a>.
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Mercom's India Solar Market Leaderboard 2024: Market Shares and Profiles

In calendar year (CY) 2023, the country added 20.8 gigawatts (GW) of solar modules and 3.2 GW of solar cell capacity, according to Mercom India&#8217;s State of Solar PV Manufacturing in India 2024 report.
<div class="cms-button-wrap vc_btn3-container more-art-btn vc_btn3-center" style="text-align: center;"><a class="vc_general cms-button md cms-default btn-icon-animate vc_btn3-block green" style="color: white !important; text-transform: inherit; font-weight: bold; font-size: 18px; background: #ed8b23; padding: 10px 17px;" title="" href="https://www.mercomindia.com/product-form/2024-state-solar-manufacturing-india-executive-summary-form" rel="noopener noreferrer">Download Executive Summary</a></div>
Manufacturing capacity additions in 2023 were primarily driven by the anticipated reimposition of the Approved List of Models and Manufacturers (ALMM) order starting in April 2024, as well as potential export opportunities.
The country&#8217;s cumulative solar module manufacturing capacity reached 64.5 GW, and solar cell manufacturing capacity totaled 5.8 GW as of December 2023.
The top 10 manufacturers accounted for 62% of the module and 100% of cell production capacity as of December 2023.
About 60% of the installed module manufacturing capacity was equipped to manufacture solar modules in M10 and G12 wafer sizes. Only 22.2 GW of the total module production capacity was enlisted under the ALMM order per the updated List–I issued by MNRE as of January 2024.
Monocrystalline modules accounted for 67.5% of the country&#8217;s module production capacity, followed by polycrystalline, Tunnel Oxide Passivated Contact (TOPCon), and thin film modules.
<img loading="lazy" decoding="async" class="wp-image-48278 aligncenter" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/Screenshot-2024-03-28-123217.jpg" alt="Solar Module Manufacturing Forecast (MW)_23 01 23" width="686" height="342" />
Gujarat led the country&#8217;s photovoltaic (PV) manufacturing capacity, accounting for 46.1% of solar modules. Telangana accounted for 39% of annual solar cell production capacity, the highest in the country as of December 2023.
Module manufacturing capacity is projected to surpass 150 GW, and cell capacity is expected to reach over 75 GW by 2026.
Based on the current pipeline, monocrystalline modules are anticipated to represent 59.7% of the annual module production capacity and 50.5% of the cell production capacity by 2026, followed by TOPCon, Heterojunction (HJT), and other technologies.
Various public sector and government entities issued tenders totaling 9.7 GW to procure solar modules in 2023, up 275.6% YoY.
India imported 16.2 GW of modules, the highest in a year, up 158% YoY from 10.3 GW in 2022. Domestic manufacturers exported 4.8 GW of solar modules in 2023, up 204% compared to 1.6 GW in 2022.
India imported 15.6 GW of solar cells in CY 2023, up 169% YoY from 5.8 GW. India&#8217;s solar cell exports reached 286.3 MW in 2023, up 2,765% from 10 MW in 2022.
Key Highlights from Mercom India Research&#8217;s State of Solar PV Manufacturing in India 2023 Report:
<ul>
<li>India added 20.8 GW of module capacity and 3.2 GW of cell capacity in CY 2023</li>
<li>The country&#8217;s solar module and cell capacity is expected to exceed over 150 GW and 75 GW by 2026</li>
<li>The top three states for solar module manufacturing were Gujarat, Rajasthan, and Tamil Nadu</li>
<li>Telangana, Gujarat, and Himachal Pradesh were the top three states for solar cell manufacturing capacity</li>
<li>In 2023, various public sector and government entities issued 9.7 GW of tenders to procure solar modules</li>
<li>India&#8217;s solar PV module and cell imports were up 158% and 169%, respectively</li>
<li>India&#8217;s solar PV module and cell exports were up 204% and 2,765%, respectively</li>
</ul>
<img loading="lazy" decoding="async" class="aligncenter wp-image-60617" style="width: 70%;" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/Info-final-01-01-1-scaled.jpg" alt="State Solar Manufacturing India 2024" width="605" height="699" />
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State Of Solar PV Market In India 2024 – 20.8 GW Added In 2023

In calendar (CY) 2023, India added 3.2 gigawatts (GW) of solar open access capacity, an increase of 5.7% compared to the 3 GW installed in 2022, a record for annual installations, according to 2023 Q4 &amp; Annual Mercom India Solar Open Access Market Report.
The extension of the Approved List of Models and Manufacturers (ALMM) order until March 2024 and falling module prices spurred commercial and industrial (C&amp;I) consumers to commission pending projects and sign new PPAs. Declining system costs, favorable policies, and the Green Energy Open Access Rules in several states fueled solar installations through the open access market in 2023.
<div class="cms-button-wrap vc_btn3-container more-art-btn vc_btn3-center" style="text-align: center;"><a class="vc_general cms-button md cms-default btn-icon-animate vc_btn3-block green" style="color: white !important; text-transform: inherit; font-weight: bold; font-size: 18px; background: #ed8b23; padding: 10px 17px;" title="" href="https://www.mercomindia.com/product-form/q4-2023-mercom-india-solar-open-access-market-report-executive-summary-form" rel="noopener noreferrer">Download Executive Summary</a></div>
Karnataka led all states and accounted for 27.9% of open access solar capacity in 2023. Gujarat and Maharashtra followed with 16.4% and 16.2% share of annual installations, respectively. The top five states accounted for 84.1% of the total installations in the year.
<img loading="lazy" decoding="async" class="aligncenter size-full wp-image-60862" style="width: 70%;" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/openaccess.jpg" alt="" width="969" height="449" />
India added 831.2 MW of open access solar in Q4 2023, a 22.8% quarter-over-quarter (QoQ) drop, but up 6.2% year-over-year (YoY) compared to 782.5 MW in Q4 2022.
While lower PPA prices resulted in higher capacity additions YoY, installations dropped QoQ as several developers completed their projects in Q3 and signed new PPAs in Q4, which are expected to increase capacity additions in the upcoming quarters.
In Q4 2023, Tamil Nadu led all states, accounting for 24.8% of total open access solar installations. Rajasthan ranked second and Karnataka third with a 23.3% and 15.8% share of total capacity additions in Q4, respectively.
The top five states accounted for 83.6% of solar open access installations in Q4 2023.
A detailed analysis of the solar open access market, retail electricity tariffs, and open access charges and costs for seventeen states has been covered in the report.
The average PPA prices, net landed cost, banking regulations, short-term transactions, and open access policies and regulations released in Q4 2023 are also featured in the report.
Key Highlights from Mercom India Research&#8217;s Q4 2023 India Solar Open Access Market Report
<ul>
<li>India added over 3.2 GW open access solar in CY 2023, up 5.7% from the 3 GW installed in 2022</li>
<li>Karnataka led all states, contributing 27.9% of new open access solar capacity in 2023</li>
<li>India added 831.2 MW of open access solar in Q4 2023, a 22.8% QoQ drop from 1,077 MW installed in Q3 2023</li>
<li>The total installed solar capacity in the open access segment stood at 12.2 GW as of December 2023</li>
<li>13.9 GW of open access solar projects were in the development pipeline at the end of CY 2023</li>
</ul>
<img loading="lazy" decoding="async" class="aligncenter wp-image-60617" style="width: 70%;" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/infographic-final-1-01-scaled.jpg" alt="Q4 2023 India Solar Open Access Market Update_Inforgraphics" width="605" height="699" />
Contact Mercom for pricing: <a href="mailto:reports@mercomindia.com" target="_blank" rel="noopener noreferrer">reports@mercomindia.com</a> or call us at +91-80-41211148.
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2023 Q4 AND ANNUAL MERCOM INDIA SOLAR OPEN ACCESS MARKET REPORT – 3.2 GW INSTALLED IN 2023

In calendar year (CY) 2023, India added 1.7 gigawatts (GW) of rooftop solar, up 3.7% compared to 1.6 GW installed in 2022, according to Mercom India Research&#8217;s ‘2023 Q4 &amp; Annual Mercom India Rooftop Solar Market Report&#8217;.
<div class="cms-button-wrap vc_btn3-container more-art-btn vc_btn3-center" style="text-align: center;"><a class="vc_general cms-button md cms-default btn-icon-animate vc_btn3-block green" style="color: white !important; text-transform: inherit; font-weight: bold; font-size: 18px; background: #ed8b23; padding: 10px 17px;" title="" href="https://www.mercomindia.com/product-form/q4-2023-mercom-india-rooftop-solar-market-report-executive-summary-form" rel="noopener noreferrer">Download Executive Summary</a></div>
The residential segment primarily drove capacity additions in 2023. However, the growth was marginal as several commercial and industrial (C&amp;I) consumers waited for module prices to stabilize to lower their capital investments.
The residential segment accounted for over half of the capacity additions in 2023, followed by C&amp;I segments.
<img loading="lazy" decoding="async" class="aligncenter size-full wp-image-60862" style="width: 70%;" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/rooftop.jpg" alt="" width="969" height="449" /> 
In the fourth quarter (Q4) of 2023, 406 megawatts (MW) of rooftop solar was added, a 5.8% drop quarter-over-quarter (QoQ) from 431 MW in Q3 2023. Installations were down 15.9 % year-over-year (YoY) compared to 483 MW in Q4 2022.
The average cost of rooftop solar systems fell for the fifth straight quarter. In Q4 2023, the average rooftop solar system costs fell 10% QoQ and 21.6% YoY.
India&#8217;s cumulative rooftop solar installations reached 10.5 GW at the end of Q4 2023.
Gujarat continued to be the leading state, accounting for 27.3% of cumulative solar rooftop installations, followed by Maharashtra and Rajasthan, with 13.3% and 8.1%, respectively.
The top 10 states accounted for 77.3% of cumulative rooftop solar installations as of December 2023.
A comprehensive analysis of net metering policies across all Indian states and Union Territories is also included in the report.
Key Highlights from the 2023 Q4 &amp; Annual Mercom India Rooftop Solar Market Report
<ul>
<li style="list-style-type: none;">
<ul>
<li>In 2023, India added 1.7 GW of rooftop solar capacity, up 3.7% YoY</li>
<li>Residential consumers accounted for 50.5% of the capacity additions in 2023, followed by C&amp;I</li>
<li>In Q4 2023, India added 406 MW of rooftop solar capacity, down 5.8% QoQ and 15.9% YoY</li>
<li>In Q4 2023, average rooftop solar system costs fell 10% QoQ and 21.6% YoY</li>
<li>Cumulative rooftop solar installations reached 10.5 GW as of December 2023</li>
<li>Gujarat was the top state cumulative rooftop solar installations, followed by Maharashtra and Rajasthan</li>
</ul>
</li>
</ul>
Contact Mercom for pricing: <a href="mailto:reports@mercomindia.com" target="_blank" rel="noopener noreferrer">reports@mercomindia.com</a> or call us at +91-080-41211148.

2023 Q4 AND ANNUAL MERCOM INDIA ROOFTOP SOLAR MARKET REPORT – 1.7 GW INSTALLED IN 2023

&nbsp;
India installed 7.5 gigawatts (GW) of solar capacity in the calendar year (CY) 2023, a 44.1% decrease year-over-year (YoY) from 13.4 GW installed in CY 2022, according to recently released Q4 &amp; Annual 2023 India Solar Market Update by Mercom India Research.
<div class="cms-button-wrap vc_btn3-container more-art-btn vc_btn3-center" style="text-align: center;"><a class="vc_general cms-button md cms-default btn-icon-animate vc_btn3-block green" style="color: white !important; text-transform: inherit; font-weight: bold; font-size: 18px; background: #ed8b23; padding: 10px 17px;" title="" href="https://www.mercomindia.com/product-form/q4-2023-india-solar-market-update-executive-summary-form" rel="noopener noreferrer">Download Executive Summary</a></div>
In 2023, large-scale solar installations fell 50.8% YoY to 5.8 GW from 11.7 GW in 2022. Large-scale solar accounted for 77.2% of the annual capacity additions, and rooftop solar contributed 22.8%. In Q4 2023, India added 1.8 GW of solar capacity, a 6.6% drop from 1.9 GW installed in Q3 2023. Installations fell 41.3% from. 3.1 GW in Q4 2022. Large-scale solar projects contributed 77.4% to the quarter&#8217;s capacity additions, and rooftop solar 22.6%.
As of December 2023, the cumulative installed solar capacity stood at 72 GW.
<img loading="lazy" decoding="async" class="aligncenter wp-image-60583" style="width: 70%;" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/Solar-market.jpg" alt="Annual Solar Installations (MW)" width="577" height="263" />
Delayed large-scale projects auctioned by Solar Energy Corporation of India (SECI), NHPC, NTPC, and Indian Renewable Energy Development Agency (IREDA), which were granted extensions between December 2022 and June 2023, would likely contribute significantly to capacity additions in 2024, raising the annual installation numbers.
Average large-scale solar system costs dropped through 2023. Q4 2023 recorded the lowest-ever quarterly average project cost since the onset of large-scale solar capacity additions in the country. Average large-scale system costs in Q4 2023 fell 14.3% quarter-over-quarter (QoQ) and 26.6% YoY.
Rajasthan, Karnataka, and Gujarat were the top three states for cumulative large-scale solar capacity, accounting for 54.8% of installations in the country as of December 2023.
Key Highlights from Mercom India Research’s Q4 &amp; Annual 2023 India Solar Market Update:
<ul>
<li>India added 7.5 GW of solar in CY 2023, a 44.1% drop from 13.4 GW installed in CY 2022 </li>
<li>In Q4 2023, India added 1.8 GW of solar, down 6.6% QoQ and 41.3% YoY</li>
<li>The cumulative installed solar capacity in India reached nearly 72 GW as of December 2023</li>
<li>India&#8217;s large-scale solar project pipeline stood at 105.3 GW, with another 70.6 GW of projects tendered and pending auction</li>
<li>Rajasthan, Karnataka, and Gujarat were the top three states for cumulative large-scale solar installations </li>
<li>Solar accounted for 48.5% of new power capacity additions in 2023 </li>
<li>Renewable energy sources accounted for 68.2% of new power capacity added in 2023</li>
</ul>
<img loading="lazy" decoding="async" class="aligncenter wp-image-60617" style="width: 70%;" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/Info-8-Final-scaled.jpg" alt="Q4 2023 India Solar Market Update_Inforgraphics" width="605" height="699" />
Contact Mercom for pricing: <a href="mailto:reports@mercomindia.com" target="_blank" rel="noopener noreferrer">reports@mercomindia.com</a> or call us at +91-080-41211148 or +91-080-23560436.
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2023 Q4 AND ANNUAL INDIA SOLAR MARKET UPDATE - 1.8 GW INSTALLED IN Q4 2023

In the third quarter (Q3) of the calendar year (CY) 2023, India added 907 megawatts (MW) of solar open access. The installations rose 36.1% quarter-over-quarter (QoQ) compared to 666 MW in Q2 2023. Installations were up 20.6% year-over-year (YoY) compared to 752 MW installed in Q3 2022, according to the newly released Q3 2023 Mercom India Solar Open Access Market Report.
In the first nine months (9M) of CY 2023, India added 2.2 GW of open access solar, down 7.3% compared to 2.3 GW installed in 9M 2022.
<div class="cms-button-wrap vc_btn3-container more-art-btn vc_btn3-center" style="text-align: center;"><a class="vc_general cms-button md cms-default btn-icon-animate vc_btn3-block green" style="color: white !important; text-transform: inherit; font-weight: bold; font-size: 18px; background: #ed8b23; padding: 10px 17px;" title="" href="https://www.mercomindia.com/product-form/q3-2023-mercom-india-solar-open-access-market-report-executive-summary-form" rel="noopener noreferrer">Download Executive Summary</a></div>
As of September 2023, the country&#8217;s cumulative installed open access solar capacity was 11 GW. The top five states contributed 72.8% of the cumulative open access solar installations.
India had 12.5 GW of open access solar projects under various stages of development at the end of Q3 2023.
<img loading="lazy" decoding="async" class="aligncenter wp-image-61079" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Open-Access-Solar-Quarterly-Installations-MW.png" alt="Open Access Solar Quarterly Installations (MW)" width="611" height="295" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Open-Access-Solar-Quarterly-Installations-MW.png 936w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Open-Access-Solar-Quarterly-Installations-MW-300x145.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Open-Access-Solar-Quarterly-Installations-MW-768x371.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Open-Access-Solar-Quarterly-Installations-MW-650x314.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Open-Access-Solar-Quarterly-Installations-MW-624x301.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Open-Access-Solar-Quarterly-Installations-MW-600x290.png 600w" sizes="(max-width: 611px) 100vw, 611px" />
&#8220;The drop in solar project costs attracted consumer attention this quarter. Power purchase agreements that were on the back burner are now being signed. Emphasis on greening products and services has gained momentum in large and medium-scale enterprises and is pushing the growth of green energy open access market,&#8221; commented Priya Sanjay, Managing Director at Mercom India.
Maharashtra led the open access solar capacity additions in Q3 2023, with 26.5%, followed by Karnataka (20.3%) and Tamil Nadu (19.5%). The top five states accounted for 88.5% of the quarter&#8217;s installations.
Karnataka remained the top state, accounting for 33.3% of the cumulative solar open access capacity at the end of 9M 2023. The top five states contributed 72.8% of the cumulative open access solar installations.
According to the report, Renewable Energy Certificates (REC) trading in the Indian Energy Exchange (IEX) was up 59% compared to the previous quarter. The volume traded in the Green Term Ahead Market (G-TAM) on IEX increased 55% QoQ.
A detailed analysis of the solar open access business overview, retail electricity tariffs, and open access charges and costs for seventeen states has been covered in the report.
The report also highlights the views and opinions of the top open access installers nationwide during the quarter.
Key Highlights from Mercom India Research&#8217;s Q3 2023 India Solar Open Access Market Report
<ul>
<li>India added 907 MW of open access solar capacity in Q3 2023, up 36.1% QoQ and 20.6% YoY</li>
<li>Maharashtra added the highest open access solar capacity in Q3 2023</li>
<li>The top five states accounted for 88.5% of open access solar installations in the quarter</li>
<li>Open access solar installations in 9M 2023 totaled 2.2 GW, down nearly 7.3% YoY</li>
<li>As of September 2023, the cumulative installed open access solar capacity was 11 GW</li>
<li>12.5 GW of open access solar projects were in the development pipeline at the end of 9M 2023</li>
</ul>
Contact Mercom for pricing: <a href="mailto:reports@mercomindia.com" target="_blank" rel="noopener noreferrer">reports@mercomindia.com</a> or call us at +91-80-41211148.
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Q3 2023 MERCOM INDIA SOLAR OPEN ACCESS MARKET REPORT – 907 MW INSTALLED IN Q3 2023

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