JMK Research & Analytics Blog
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JMK Research & Analytics is a boutique consulting firm for all kinds of research and advisory services for Indian and International clients focusing on Renewables, Electric mobility, and the Battery storage market. Based on our in-depth sector experience, strong industry network, existing databases in the Indian sustainability market, we provide key insights and detailed industry information..
JMK Research & Analytics Blog
3w ago
India installed 15 GW solar and 3.3 GW wind capacity in FY2024
In Financial Year 2024 (FY) i.e., from April 2023 till March 2024, approximately 15,033 MW solar capacity and 3,253 MW of wind capacity was added in India. Solar and wind installations increased by 17.6% and 42.9% respectively as compared to the same period the previous year.
In terms of cumulative installations, according to the data released by the Ministry of New and Renewable Energy (MNRE) till March 2024, India’s RE installed capacity reached 190.6 GW.
Figure 1: RE installation trends in India
Source: CEA, MNRE, JMK Research ..read more
JMK Research & Analytics Blog
1M ago
EV Sales surge by 42% in FY2024 to clock 1.67 million units
EV sales in India increased 42% year on year (YoY) in FY2024, with 1.67 million units registered. The e-car segment registered maximum YoY growth of 90%. Riding on the booming logistics and e-commerce sector, as well as favourable cost economics, the E3W cargo segment saw an 82% rise in sales.
Further, even with the limited models in the e-cars segment in India, the sector was able to achieve 90% growth in FY2024. This clearly shows the future potential of the e-car segment. If fueled with incentives, as done for the E2W and E3W segme ..read more
JMK Research & Analytics Blog
1M ago
Market share of top 2 OEMs in E2W segment grew by 12% in CY2023
India has shown ~5% E2W adoption in overall 2W segment in CY2023. The segment has shown a 35% year-on-year sales growth in the country. The overall E2W market is fragmented with more than 150 players in the category. However, the top 2 E2W players captured more than 50% of the market share in CY2023.
Fig 1: Market share analysis of E2W OEM’s in India
Source: Vahan Dashboard, Telangana Dashboard, JMK Research
In CY2023, the top 2 E2W OEMs- Ola Electric and TVS Motors saw an increase of ~12% in market share, while Hero Electr ..read more
JMK Research & Analytics Blog
2M ago
Uttar Pradesh Green Hydrogen Policy 2024
On 4th January 2023, The National Green Hydrogen Mission (NGHM) was launched with an initial outlay of Rs 19,744 crore from FY2023-24 to FY2029-30. The overarching objective of the Mission is to make India a global hub for production, usage and export of Green Hydrogen and its derivatives. The mission aims to develop a green hydrogen production capacity of at least 5 million metric tonnes per annum by 2030.This will be accompanied by the addition of approximately 125 GW of renewable energy capacity in the country.
Various states have aligned themselves ..read more
JMK Research & Analytics Blog
2M ago
Pump Hydro Storage and FDRE tenders accounted for 91% of the entire ESS tender issuance in 2023
Akin to the rise of renewables, large-scale tendering is playing a crucial role in the growth of the Energy Storage Systems (ESS) market in India. Over the past few years, grid-scale ESS tendering in India has had unprecedented growth. Remarkably, tender issuance for grid-scale ESS in India has shot up by >35 GW in 2023 alone.
Over the years, grid-scale ESS tendering has had various iterations and tender types including solar + BESS, peak power supply, Round The Clock (RTC), standalone ESS. Until ..read more
JMK Research & Analytics Blog
3M ago
VIBRANT GUJARAT SUMMIT 2024 HIGHLIGHTS: Investments of More Than INR 9000 Crore Announced in Electric Vehicle Sector
The Vibrant Gujarat Summit is organised by Government of Gujarat from 10th -12th January 2024 to understand and explore business opportunities in Gujarat. The summit’s primary objective is to promote Gujarat as an attractive investment destination and to facilitate partnerships and collaborations across different sectors including automotive sector. The 3-day summit saw MOUs, partnerships, and investment from different foreign and domestic companies in the EV sector.
Sou ..read more
JMK Research & Analytics Blog
4M ago
India added 12.9 GW of RE capacity in CY2023, a decline of 18%
In the Calendar Year (CY), i.e., from January 2023 till December 2023, approximately 10,016 MW of solar and 2,806 MW of wind capacity were added in India. Solar installations decreased by 28%, while wind installations increased by 52% compared to CY2022.
In terms of cumulative installations, according to the data released by the Ministry of New and Renewable Energy (MNRE) till December 2023, India’s RE installation capacity reached 133.89 GW. Solar energy contributes approximately 55% share in the total RE segment, making it the ma ..read more
JMK Research & Analytics Blog
5M ago
Delhi Motor Vehicle Aggregator and Delivery Service Provider Scheme, 2023
Government of Delhi announced Delhi Motor Vehicle Aggregator and Delivery Service Provider Scheme on November 21, 2023. The scheme has set a timeline for fleet aggregators as well as the delivery service providers to ensure a phased conversion to electric mobility by 2030. With this scheme, Delhi becomes the pioneer in India which has not only aggregator guidelines but has also defined phase-wise electrification targets for the operators.
Eligibility
The guidelines stated in the scheme are for Aggregators, Delivery Servi ..read more
JMK Research & Analytics Blog
7M ago
Gujarat Renewable Energy Policy 2023
Gujarat has come with a comprehensive RE policy that covers all major renewables and encourages setting up of renewable generation projects based on Wind, Solar and Solar-Wind Hybrid technologies.
Following are the key highlights of this policy:
Category
Policy
Operative Period
5 years validity up to 30th Sept 2028, However, the benefits will be applicable for a period of 25 years from the date of commissioning or the life of the RE project
Targets
The policy targets a cumulative 100 GW of renewable energy capacity by 2030, attracting inves ..read more
JMK Research & Analytics Blog
7M ago
Rajasthan Renewable Energy Policy, 2023
The State Government announced the Rajasthan Renewable Energy Policy, 2023, a strategic step towards sustainability. The new policy aims to reach 65GW of solar capacity and 15GW of wind-solar hybrid by 2030.
Following are the key highlights of this policy:
Category
Current Policy
Previous Policy
Renewable Energy Target
90,000 MW of renewable capacity by 2029-30, including 65,000 MW solar, 15,000 MW wind and hybrid, and 10,000 MW hydro and storage.
It also aims to promote rooftop solar, off-grid solar, manufacturing, etc.
Earlier Policy ..read more