According to JKM Research, India installed approximately 37.8 GW of solar capacity by 2025. This included approximately 28.6 GW of new utility-scale solar, up 54.6% from 2024, and 7.9 GW of rooftop solar, up 72% year-over-year. The off-grid additions amounted to 1.35 GW, compared to 1.48 GW in 2024.
JMK Research expects India to add approximately 42.5 GW of new solar capacity in calendar year (CY) 2026. This is expected to include 32.5 GW of utility-scale solar, 8.5 GW of rooftop solar and 1.5 GW from the off-grid segment.
According to the analyst, India installed approximately 37.8 GW of solar in the year 2025, of which roughly 28.6 GW of new utility-scale solar, up 54.6% from 2024, and 7.9 GW of rooftop solar, up 72% year-on-year. The off-grid additions amounted to 1.35 GW, slightly less than the 1.48 GW in 2024.
As of December 31, 2025, the cumulative installed renewable energy capacity in India was 136 GW for solar, 55 GW for wind and 51 GW for hydro. The combined pipeline of solar, wind, hybrid and storage projects totals approximately 169 GW and is expected to come online in the next four to five years. Another 32 GW of projects are in the bidding phase, with tenders having been issued but auctions not yet completed.
The top five players in terms of cumulative installations and pipeline capacity in the utility-scale solar, wind and hybrid segments are Adani (40.4 GW), ReNew (22.2 GW), NTPC (19.6 GW), JSW Energy (16.1 GW) and Greenko (15.1 GW). Among these leading developers, Adani, ReNew, NTPC, Tata Power and Juniper Green have collectively installed approximately 5.61 GW of hybrid capacity as of December 2025.
Update on the fourth quarter of 2025
In the fourth quarter of 2025, India added approximately 6.2 GW of utility-scale solar capacity, a decline of 23% from the previous quarter. The rooftop segment recorded approximately 2.1 GW of new installations, down 22% quarter-on-quarter.
Inverters
In the fourth quarter of 2025, more than 14.2 GW of inverter shipments were recorded from 15 suppliers serving both central and string inverters. Sungrow led the market with deliveries of more than 5.25 GW, mainly powered by central inverters, while retaining a significant share of string inverters.
Modules
Leading Indian module suppliers shipped approximately 14 GW in the fourth quarter of 2025. The top five companies accounted for approximately 52% of total shipments, with Waaree emerging as the market leader with a 21% share.
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