FY24: India’s Annual Solar Power Generation Increased By 14%: CEA

India's Annual Solar Power Generation Increased By 14%: CEA

The Central Electricity Authority (CEA) has now released its annual renewable energy generation report for 2023-24. The report revealed that despite the historic rise of renewable energy in India during FY24, thermal energy sources continued to take the lead in India’s total energy generation. However, the good news is that India’s annual solar power generation increased by 13.6% and wind energy generation by around 16%. 

The latest data from April 2023 to March 2024 revealed that India generated 1738.83 Billion Units (BU) of electricity. Out of this, thermal energy sources generated 1,326.29 BU which accounted for a lion’s share of 76.27%. On the other hand, India’s renewable sector (including large hydro projects) generated only 359 BUs of clean electricity. This was 20.70% of India’s total energy generation. Nuclear Energy on the other hand took a share of 2.76% (47.94 BUs). 

In the renewable segment, the large hydro project remained the largest power generator in India with a total reported generation of 134054 Million Units (MU). This accounted for 37.25% of the total renewable generation. Solar remained at the second slot with a total share of 32.23% (115975 MUs). Wind energy recorded a total share of 23.17% with a total recorded generation of 83385 MUs. 

Besides these leading renewable energy sources, other sources also contributed minor shares. This included Bagasse (3%) and Small Hydro (2.64%). A comparison of the annual fuel-wise generations of 2023-24 and 2022-23 of the renewable segment revealed that only wind, solar and biomass reported a rise in annual generation. Sectors like large hydro projects, small hydro projects and bagasse witnessed negative growth in terms of annual generations, the latest CEA data said.  

Gaps Between Generation & Installed Capacities 

A comparison of the annual generation and total installed capacities of renewable energy hinted at the large gap, thanks to the Capacity Utilisation Factor (CUF)/Plant Load Factor (PLF) of the fuels. 

While the latest CEA data said that thermal comprises 55 percent of India’s total electricity capacity, its generation share comes to around 76%. At the same time while India’s total installed capacity of renewable energy (including large hydro projects) stood at 43%, its total share in annual generation stands at only 20%. 

Fuel-wise renewable capacities in India by March 31, 2024.