India will need to ramp up efforts if the 2030 target for installed solar capacity is to be achieved. As per the Ministry of New and Renewable Energy, India's installed solar capacity stood at 105.6 GW at the end of fiscal 2025. This means we have achieved only 35% of our 2030 target of 300 GW.
Annual Capacity Addition Needed
The current gap between India's installed solar capacity and target capacity stands at 194.36 GW. If India wants to reach our 300 GW goal by the end of March 2031, it needs to add 32.4 GW annually for the next six financial years.
India's record solar capacity addition in a single year is lower than the annual addition needed; FY25 saw additions of 23.8 GW.
Growth Accelatration Needed
In the last five years, India's solar capacity has grown 24% every year on average. As per NDTV Profit calculations, if we maintain this annual growth consistently, India could hit its 300 GW target by FY30.
A 24% annual growth indicates that India will need to add 25.35 GW in FY26 and 31.44 GW in FY27, as per our calculations. SBI Capital believes that India can add 90 GW of solar capacity in FY26-FY27. But as per Niti Aaayog data, India only has 71 GW of capacity that is expected be commissioned in FY26 and FY27 as of December 2024.
The Pipeline Picture
As of December 2024, India had 92.05 GW worth of projects in the pipeline. 41.76 GW of projects have an anticipated commissioning date in FY26, and 29.58 GW of solar capacity is expected to be commissioned in FY27. But it is key to note that many of these capacities have seen delays, and the possibility of that happening again cannot be ruled out.
Further, India's current pipeline has only 3.45 GW of capacity planned for commissioning post FY27. Therefore, continued tendering and timely execution is key if India plans to reach its 2030 target.
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