India’s Solar Energy Generation Increased 18% In CY24

India’s renewable energy sector witnessed a strong year-on-year growth in calendar year 2024 (CY24), with total renewable energy generation (including large hydro) reaching 3,87,553.52 million units (MU)—a 14.8% increase compared to 3,37,745.63 MU in CY23, as per the latest data from the Central Electricity Authority (CEA).

Solar Energy Sees Impressive Growth

A major contributor to this rise was the solar energy segment, which saw a substantial increase in generation. In CY24, solar power generation stood at 1,33,795.06 MU, marking an 18% rise from 1,13,409.34 MU in CY23. The steady capacity additions and improved efficiency of solar installations have played a crucial role in this expansion, aligning with India’s ambitious renewable energy targets.

Wind Energy Records a Marginal Dip

While solar energy demonstrated robust growth, wind energy recorded a slight decline. Wind power generation in CY24 stood at 81,544.15 MU, slightly lower than the 82,106.39 MU recorded in CY23. The marginal dip of 0.7% could be attributed to seasonal variations and grid integration challenges, though wind power remains a crucial component of India’s renewable energy mix.

Overall Renewable Energy Growth

The overall renewable energy sector benefited from policy support, increased investments, and technological advancements. The 14.8% rise in total renewable generation in CY24 highlights India’s commitment to transitioning towards cleaner energy sources. With an expanding pipeline of renewable projects and government initiatives such as Production Linked Incentive (PLI) schemes and improved grid infrastructure, the sector is poised for continued growth in the coming years.

Outlook for 2025

Looking ahead, India’s renewable energy sector is expected to further expand, with solar and wind leading the way. The focus will be on integrating large-scale renewable energy projects, enhancing energy storage solutions, and strengthening grid stability to accommodate higher renewable penetration.

With continued policy support and industry momentum, India is well on track to achieve its renewable energy targets and make significant strides toward a sustainable energy future. The rise in tenders in different formats, increased domestic solar module and cell production and more investment in the sector seems to be spearheading its growth.