India adds record 15 GW solar capacity in Jan-Jun: Mercom Capital

India has registered record solar installations of about 15 GW during the first half of 2024 as "developers raced" to complete delayed projects, a report by Mercom Capital said.

The country added 3.89 GW of solar capacity during January-June 2023, the US-based research firm said in its latest report.

"In the first half, solar installations in India reached 15 GW, surpassing all previous years records, posting an increase of 282 per cent compared to 1H 2023," the report titled 'India Solar Market Update' said.

The record installations were registered as developers raced to commission the previously delayed projects, it said.

As of June 2024, India's cumulative installed solar capacity stood at 87.2 GW, of which the utility-scale projects accounted for nearly 87 per cent, and rooftop solar over 13 per cent.

Solar energy accounted for 19.5 per cent of India's installed power capacity and over 44 per cent of the total installed renewable energy capacity.

The average cost of large-sca