India’s solar growth slows to six-year low in 2024.

By Oliver Townsend Jul 4, 2024
India's solar output grows at slowest pace in six years in first half of 2024.jpegOrginal image from: https://www.hindustantimes.com/business/indias-solar-output-grows-at-slowest-pace-in-six-years-in-first-half-of-2024-101720060334020.html

India’s solar output growth in the first half of 2024 has been the slowest in six years, according to data from the federal grid regulator. The analysis shows that as the country continues to address rising power demand, reliance on coal has increased. This shift has resulted in solar power generation growth of 14.7% compared to the same period last year, with coal-fired power output surpassing renewable energy output for the first time since 2015.

Slow Growth in Solar Output

India’s solar power generation saw sluggish growth in the first half of 2024, expanding at the slowest pace in six years. According to Grid-India data, solar output rose to 63.6 billion kilowatt-hours during this period, marking a 14.7% increase from the previous year. This growth rate is the lowest recorded in the past six years, highlighting a shift towards coal as the primary source of energy to meet the country’s escalating power demand.

Increasing Reliance on Coal

India’s focus on coal-fired power generation has intensified in recent years, with coal output rising by 10.4% in the first half of 2024. This growth outpaced the overall power generation increase of 9.7% during the same period. The country’s reliance on coal has surged, with coal contributing to 77.1% of the power output in the first half of 2024, compared to 76.6% in the previous year. This trend indicates a departure from renewable energy sources and a prioritization of coal to meet the growing energy demands.

Future Outlook and Projections

Despite the current emphasis on coal for power generation, India is expected to witness a significant growth in total electricity generation by the end of the fiscal year 2025. The growth is projected to be primarily driven by an 8.9% increase in coal-fired power output, surpassing the growth rate of renewable energy at 8.2%. Analysts anticipate a shift towards faster growth in renewable energy generation in the upcoming fiscal year, with projections indicating a rise in renewable energy installations by over a third to 25 gigawatts by March 2025.

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