Surging solar, slowing wind, and rising storage shaped India’s renewable push in Q2 2025, as solar installations soared almost 43% QoQ. However, sectoral investments slipped 21%.
India added 8.46GW of new utility-scale solar capacity in the April–June 2025 quarter, marking a 42.7% rise from the previous quarter, according to JMK Research & Analytics.
The surge highlights solar’s continued dominance in the country’s energy transition, even as sectoral investments declined to US$4.87 billion, down 21% from Q1 2025.
Solar accounted for half of all renewable installations during the quarter. Rooftop solar added 1.86GW, a 39% quarter-on-quarter increase, while wind energy slowed with 1.62GW of additions, reflecting a 13.2% drop.
Module exports stood at 1.33GW from four key suppliers. Meanwhile, the price of mono-PERC 500Wp modules rose to ₹17.72/Wp, up 15% from Q1 and 15.68% year-on-year, underscoring supply-side cost pressures.
For the first half of 2025, India installed 14.3GW of utility-scale solar capacity, 49% higher than H1 2024. Rooftop solar contributed 3.2GW, a sharp 76% year-on-year rise, while wind added 3.5GW, nearly doubling the 1.9GW achieved in the same period last year.
Looking ahead, JMK projects around 39GW of new solar capacity in 2025, comprising 30.2GW from utility-scale projects, 7GW from rooftop systems, and 1.8GW from off-grid. The wind sector is forecast to contribute 6.5GW this year.
Meanwhile, equipment shipments also reflected the momentum. Over 14.2GW of central and string inverters were supplied in Q2 2025, alongside 8.6GW of solar modules from 21 key vendors.
Sungrow led inverter shipments with 4.3GW, followed by TBEA with 2.6GW. Among module makers, Waaree emerged as the top supplier, accounting for about 1.3GW.
Policy activity, however, showed a slowdown. Six new renewable energy tenders totalling 5GW were floated in Q2 2025, a modest 4% increase from Q1 but 60% lower year-on-year. Only 2.2GW was awarded to developers, down 67% from the previous quarter.
By contrast, standalone battery energy storage systems (BESS) gained traction, with allocations surging 164% to 2.25GW. Jindal India Renewable Energy secured the largest share at 450MW, followed by Reliance NU (350MW) and JBM Renewables (150MW).
