Companies Dominating the Indian Solar Market in 1H CY 2024
06 August, 2025
The latest Mercom India Solar Market Leaderboard for 1H 2024 showcases the leading companies dominating the solar sector in the first half (1H) of the calendar year (CY) 2024.
The report covers market share rankings and provides a comprehensive view of the competitive landscape across the Indian solar supply chain in the first half of CY 2024.
A few established companies have solidified and expanded their positions, driven by a renewed emphasis on domestic manufacturing following the reimposition of the Approved List of Models and Manufacturers (ALMM) order.
With initiatives like PM Surya Ghar: Muft Bijli Yojana launched in Q1 2024, and the growing project pipeline under PM-KUSUM, both requiring domestic solar modules, new market leaders are expected to emerge by the end of 2024.
India added 12.8 GW of solar capacity in 1H 2024, up 228.3% from 1H 2023. Large-scale solar (including open access) projects with a cumulative capacity of 11.7 GW accounted for 91.4% of overall installations.
The country’s cumulative installed solar capacity stood at around 85.5 GW as of June 2024.
The pipeline of large-scale solar projects under development (including open access) stood at 126.1 GW as of June 2024, with 103.8 GW of tenders pending auction.
Adani Green Energy emerged as a top utility-scale solar project developer in 1H 2024, achieving the highest capacity additions and holding the largest cumulative installed capacity as of June 2024. ReNew and O2 Power secured the second and third spots, respectively, for capacity added during the same period. Cumulatively, the top ten developers contributed 76.8% of utility-scale solar capacity additions in 1H 2024 and 44.5% of the project development pipeline as of June 2024.
Tata Power Solar led rooftop solar installations, followed by Roofsol Energy and Havells India. The top ten developers collectively captured 57.2% of the rooftop solar market during this period. In 1H 2024, more than 1.1 GW of rooftop solar capacity was added.