India would have to add more than 30 GW of installed solar power per year to reach the target of 293 GW of installed PV in the optimal energy mix for the period 2029-30. As of 31 May 2023, the country had installed 68 GW of PV capacity.
India's total installed power generation capacity will increase to 777 GW by FY2029-30, of which solar power installations will account for 293 GW, according to a revised optimal energy mix developed by the Central Electricity Authority (CEA).
As on 31 May 2023, India's installed solar photovoltaic (PV) capacity had reached 68 GW, with additional capacity of around 12.8 GW in FY 2022-23, it said.
"The National Electricity Plan (NEP) expects India's energy demand to grow at 7 per cent per annum from FY 2021-22 to FY 2026-27," the report said, adding that "in order to achieve this with cleaner sources of energy, the revised optimal energy mix has set a more important role ...... We estimate that in order to achieve this, the growth rate of solar energy will have to double to over 30 GW per annum ...... This means that by the
FY 2021-22, solar bid growth will be more than 93 GW. "As of now, the country is planning to add a target capacity of 130 GW to 140 GW of installed PV between FY 2023-24 and FY 2027-28."