Indian rating and research companies predict that India will add between 15GW and 18GW of renewable energy installed capacity annually in fiscal years 2025 and 2026. Among them, it is expected that 75% to 80% of the installed capacity, or a maximum of 14.5GW, will come from photovoltaic systems, while the remaining 20% or so will come from wind power facilities.

This prediction is based on the Indian government's recent emphasis on renewable energy and photovoltaic industries. For example, the Indian government released the National Electricity Plan for 2022-2032 in 2023, which predicts that the cumulative installed capacity of renewable energy will reach 337GW from 2026 to 2027, with photovoltaic installed capacity reaching 186GW, accounting for over 50%. In addition, India plans to add over 110GW of photovoltaic installations in the coming years to achieve its ambitious clean energy goals.

To achieve these goals, the Indian government has taken a series of measures, including providing financial subsidies and approving the construction of photovoltaic parks. For example, the Indian government provides a subsidy of 2 million rupees per MW or 30% of the total cost for each project. Meanwhile, India also plans to approve the construction of more photovoltaic parks in the coming years to expand photovoltaic installed capacity and improve production efficiency.

India has made significant progress in renewable energy and photovoltaic industries, and plans to continue expanding its photovoltaic installed capacity in the coming years. These efforts will help promote India's clean energy development and address the challenges of climate change.Editor/Li Chunwen