India Emerges as Third-Largest Solar Power Producer in 2023 | 10 May 2024
India's remarkable ascent as the world's third-largest producer of solar power in 2023 underscores a significant shift towards renewable energy sources in the global energy landscape.
- India surpassed Japan in solar power production in 2023, generating 113 billion units (BU) compared to Japan's 110 BU.
- China remains the leading producer of solar power globally, generating 584 BU in 2024, more than the next four countries combined (the United States, Japan, Germany and India).
- India ranks fifth globally in installed power capacity, with 73 gigawatts (GW) of solar power capacity.
- Global solar generation in 2023 was more than six times larger than in 2015, while in India it was 17 times higher.
- The share of solar generation increased from 0.5% of India’s electricity in 2015 to 5.8% in 2023.
- Solar power constitutes 18% of India's total installed electricity but only 6.66% of the power produced, highlighting a gap between capacity and actual output.
- Renewables, including solar and wind power, accounted for 30% of global electricity production in 2023, with China being the main contributor.