Between fiscal years 2022 and 2024, India increased its import of solar modules 23-fold, primarily to the US, according to a new report from IEEFA and JMK Research.
The Indian states of Rajasthan and Gujarat need a “concerted effort” to maintain their central roles in the country’s energy transition, according to the Institute for Energy Economics and Financial Analysis (IEEFA).
Solar PV accounted for 55.8% of the total power generation capacity added to the Indian grid in 2023, including fossil fuel additions which rose considerably over the year in response to growing electricity demand.
With a recent wave of policies and renewable reforms, investments are set to be boosted in India with solar-wind hybrid projects and corporate power purchase agreements among key trends.
