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POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

household reality and is a game-changer in sustainable energy, empowering every home with clean
power.

Unprecedented Growth in Solar Sector

India’s solar power sector has witnessed an extraordinary 3450 % increase in capacity over the past
decade, rising from 2.82 GW in 2014 to 100 GW in 2025. As of January 31, 2025, India’s total solar capacity
installed stands at 100.33 GW, with 84.10 GW under implementation and an additional 47.49 GW under
tendering. The country's hybrid and round-the-clock (RTC) renewable energy projects are also advancing
rapidly, with 64.67 GW under implementation and tendered, bringing the grand total of solar and hybrid
projects to 296.59 GW.

Solar energy remains the dominant contributor to India’s renewable energy growth, accounting for 47%
of the total installed renewable energy capacity. In 2024, record-breaking 24.5 GW of solar capacity was
added reflecting a more than two-fold increase in solar installations compared to 2023. Last year also saw
the installation of 18.5 GW of utility-scale solar capacity, a nearly 2.8 times increase compared to 2023.
Rajasthan, Gujarat, Tamil Nadu, Maharashtra and Madhya Pradesh are among the top-performing states,
contributing significantly to India’s total utility-scale solar installations.

The rooftop solar sector in India witnessed remarkable growth in 2024, with 4.59 GW of new capacity
installed, reflecting a 53% increase compared to 2023. A key driver of this growth has been the PM Surya
Ghar: Muft Bijli Yojana, launched in 2024, which is now nearing 9 lakh rooftop solar installations, enabling
households across the country to embrace clean energy solutions.

India has also made significant strides in solar manufacturing. In 2014, the country had a limited solar
module production capacity of just 2 GW. Over the past decade, this has surged to 60 GW in 2024,
establishing India as a global leader in solar manufacturing. With continued policy support, India is on
track to achieve a solar module production capacity of 100 GW by 2030.

Under the guidance of Union Minister Shri Pralhad Joshi, the Ministry of New and Renewable Energy
(MNRE) has been implementing key initiatives to scale up renewable energy capacity in India. This 100
GW milestone in solar energy underscores India's role as a renewable energy powerhouse, ensuring clean,
sustainable, and affordable energy access for millions while shaping a self-reliant energy future.

PM Surya Ghar: Muft Bijli Yojana Turns One

On February 13, 2025, the PM Surya Ghar: Muft Bijli Yojana (PMSGMBY) marked its first anniversary,
celebrating a year of empowering households with affordable solar energy and accelerating India’s
transition to a sustainable future. Launched by Prime Minister Narendra Modi on February 13, 2024, this
groundbreaking initiative aims to provide free electricity to households by facilitating the installation of
rooftop solar panels. The PMSGMBY, the world’s largest domestic rooftop solar initiative, is reshaping
India’s energy landscape with a bold vision to supply solar power to one crore households by March 2027.

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