India's Solar Energy Sector Sees Rapid Growth

India's solar energy sector is poised for significant growth, with a report from SBICAPS indicating the need to double current solar capacity additions to meet a target of 293 gigawatts by 2030. Approximately 15 gigawatts were added in the last financial year, driven by both utility-scale and new segments like commercial, industrial, and rooftop solar, which contribute about 30% of total capacity. Meanwhile, Uttar Pradesh aims to generate 22,000 megawatts of solar energy by 2026-27, supported by robust policy measures and substantial investments. Candi Solar India plans to achieve 200 megawatts of solar installations by mid-2025, expanding its operations in India and South Africa. In New Zealand, a $78 million investment by NZGIF in Far North Solar Farm aims to provide 15% of the country’s daytime electricity, showcasing a global trend towards renewable energy investments. However, challenges such as insufficient domestic manufacturing and reliance on imports for solar components persist in both nations.