India: Cumulative PV installed capacity of 57.7GW as of June 30, 2022

    Recently, Minister of Power RK Singh revealed that as of June 30, 2022, India has installed a total of 57.7GW of solar power generation capacity, with 48.7GW of photovoltaic Solar Panel For Houses projects under construction, and 16.7GW of photovoltaic projects are being tendered.

    It is reported that most of the above-mentioned photovoltaic projects are installed by private sector developers. Taking into account the normative cost of INR 450 crore (US$ 568,063) per MW, the installation of 57.7GW of cumulative solar capacity has generated an expenditure of about INR 260 trillion (US$ 32.821 billion).

    Rajasthan leads the pack in terms of PV installations, accounting for 25% of the country’s cumulative PV capacity (14.4GW), followed by Gujarat (7.8GW) and Karnataka (7.6GW).

    The Ministry of New and Renewable Energy released $332 million in funding under its solar energy program in 2021-2022, compared with $234 million in 2020-2021 and $201 million in 2019-2020.

    The National Institute of Solar Energy, a state agency, forecasts that India has a solar capacity potential of around 750GWp based on land availability and solar radiation.