According to Mercom India Research, India installed a record 10 gigawatts (GW) of solar capacity in calendar year 2021, a year-on-year (YoY) growth of 212%.
According to this report, 3.2 GW of solar capacity was installed by India in 2020. According to this report, India’s cumulative solar installed capacity at the end of December 2021 was around 49 GW.
The report mentions that in 2021, India added a total of 10 GW of solar power, which is the highest in a single year. In 2021, 62% of the new electricity capacity was solar power.
In 2021, rooftop installations grew by 138 percent annually. In 2021, the average project cost was also higher due to higher raw material, module and freight costs.
The name of this report is ‘Annual 2021 India Solar Market Update’. Rajasthan, Karnataka and Andhra Pradesh were the top three states in terms of cumulative large-scale solar capacity as of December 2021, accounting for 50% of the country’s installation.
Rajasthan led the capacity addition in 2021, with 4.5 GW of solar capacity installed. The demand outlook for 2022 looks strong, but the industry will face several challenges including import restrictions, basic customs duty, high component prices and supply chain issues across the globe apart from GST.
