India To Shine As World’s Second-Largest Solar Market By 2026, Says NSEFI

Rapid Growth In Solar Capacity

India’s solar journey has accelerated dramatically. It took 11 years to reach the first 50 GW, nearly three years to scale up to 100 GW, but only 14 months to add the latest 50 GW. This pace reflects strong government support, private investment, and falling costs of solar technology. 

Alignment With 2030 Targets

NSEFI CEO Subrahmanyam Pulipaka confirmed that India is firmly aligned with its target of 500 GW non-fossil fuel capacity by 2030. Solar energy is expected to contribute 280–300 GW to this goal, making it the backbone of India’s clean energy transition. 

Global Positioning

By 2026, India will surpass several major economies to become the second-largest solar market globally in terms of annual installations, behind only China. This achievement strengthens India’s position in the global renewable energy race and highlights its role in combating climate change. 

Economic And Environmental Impact

The solar boom is expected to:

•⁠  ⁠Reduce dependence on fossil fuels and cut carbon emissions

•⁠  ⁠Lower electricity costs for industries and households

•⁠  ⁠Create thousands of jobs in manufacturing, installation, and maintenance

•⁠  ⁠Attract foreign investment in renewable energy projects

Key Highlights

•⁠  ⁠India adds 50 GW solar capacity in just 14 months

•⁠  ⁠Total installed capacity crosses 150 GW milestone

•⁠  ⁠Poised to become world’s second-largest solar market by 2026

•⁠  ⁠Solar to contribute 280–300 GW toward 2030 clean energy target

•⁠  ⁠Strong government support and private investment driving growth

  Sources: United News of India, Biz News Desk, Hindustan