SBI Capital Markets (SBICAPS), a Mumbai-based financial services provider, has reported that solar power contributed more than 85 % of the 20 GW capacity added during the first five months of FY26, highlighting it as the main driver of India’s electricity sector. According to SBICAPS, annual solar additions are projected to reach 45 GW this year, marking the highest-ever increase for the country. India’s installed solar capacity has grown more than 3.4 times in five years, supported by policy incentives, falling module prices, and a GST cut on renewable components from 12 per cent to 5 per cent. As per SBICAPS, rooftop and open-access systems now account for over 20 % of installed capacity, while the government’s ALMM framework is shifting domestic manufacturing from modules to cells by 2026 and wafers by 2028.