India s solar generation surges by 18% YoY to 68.77 BU in 2021

India generated nearly 68.77 billion units of solar energy in the year 2021, an 18% year-on-year increase compared to 58.19 billion units (BU) generated in the previous year, thanks to the new capacity installations.

In the first nine months of 2021, India will have installed 7.4 GW of new solar capacity. That's 335% more year-on-year compared to 1.73 GW in the same period last year. At the end of Q3 2021, the cumulative installed capacity was 47 GW.

India added about 11.6 GW of power capacity in the nine months of 2021. Solar dominated the capacity additions which accounted for nearly 60%, then thermal power which contributed nearly 21%.

Despite various market challenges, solar installations continue to increase.

In the fourth quarter of 2021, solar power generation was 17.09 billion units, which represents a growth of 6.7% on a quarterly basis compared to 16.02 billion units generated in the last quarter. Solar power generation is up 20.27% compared to 14.21 billion units in the fourth quarter of 2020.

After witnessing a decline of 11.6% qoq in the third quarter, solar power generation was back on track in the fourth quarter of 2021.

In comparison, solar generation increased 21% to reach 60.4 billion units in fiscal year 2020-21 from 50.1 billion units in fiscal year 2019-20.