India added over 7.4 gigawatts (GW) of solar power capacity in the first nine months of 2021, a 335 per cent year-on-year (y-o-y) increase compared to the 1.73 GW installed in the same period last year, according to a recent report.
While in the third quarter (Q3) of 2021, India added 2,835 megawatts (MW) of solar power capacity, up 14 per cent compared to 2,488 MW installed in Q2 2021. Y-o-y installations in Q3 surged 547 per cent, according to the report titled ‘Q3 2021 India Solar Market Update’ released by Mercom India Research.
“Despite supply challenges, the Indian solar market is headed towards one of the best years on record, and a complete turnaround from 2021, which was one of the worst years for solar due to COVID-19,” said Raj Prabhu, CEO, Mercom Capital Group.
The report further said that India added close to 11.6 GW of power capacity in the first nine months of 2021. Solar dominated capacity additions accounting for close to 60 per cent, followed by thermal power, which contributed 21 per cent. Renewables, including large hydro, made up 79 percent of total power capacity additions in the January-September period of 2021.