India added 7.3 GW of solar energy generation capacity in 2019 and there is strong pipeline of 23.7 GW under construction projects, said per a sector report ‘India Solar Market Leaderboard 2020’ by global clean energy communications and consulting firm Mercom Capital Group.
The report covers market share and shipment rankings across the Indian solar supply chain in 2019.
During the calendar year (CY) 2019, India installed 7.3 GW of solar power across the country, consolidating its position as the third-largest solar market in the world, it said. India also had a robust pipeline of utility-scale projects under development of 23.7 GW at the end of 2019, with another 31.5 GW of tenders pending auction.
The report reveals that the top ten large-scale project developers account for 68 per cent market share in 2019.
Large-scale solar installations in 2019 accounted for 85 per cent with 6.2 GW. Also, solar accounted for 41 per cent of new power capacity additions in 2019 behind coal which accounted for 44 per cent.
At the end of 2019, the top ten rooftop solar installers represented 34 per cent of the total rooftop solar market share. In 2019, the rooftop solar market growth came down by 33 per cent compared to CY (calendar year) 2018.