Key Market Indicators
India's solar energy consumption is projected to hit 2.2 exajoules by 2028, up from 1.1 exajoules in 2023. This marks an annual growth rate of 10.6%. Since 2012, the country's demand for solar energy has surged by nearly 26% each year. Meanwhile, India's solar capacity is expected to reach approximately 141,000 megawatts by 2028, compared to around 76,000 megawatts in 2023. This translates to an annual growth rate of 9.5%. Since 2005, the nation's solar energy supply has increased by nearly 23% annually. These figures highlight India's significant strides in solar energy adoption and capacity expansion over the past decade and beyond.
