According to the latest Mercom report, India installed a cumulative 1.9GW of solar capacity in the first quarter of 2023. Utility-scale solar projects accounted for 74% of this figure, with 1.4 GW of capacity added this quarter. India’s total installed solar capacity now stands at 64.5GW.
Rajasthan, Karnataka, and Gujarat had the highest large-scale solar installations in the quarter and accounted for 82% of the total capacity additions. Rajasthan, with 16.1 GW of solar capacity, currently leads other states in total installations.
However, the report also reveals a 48% YoY decline in India’s solar installations.
“Various challenges contributed to the decline in solar capacity additions during the quarter. The extension of commissioning timelines for solar power projects under the CPSU Phase II program by MNRE further affected the schedule. Consequently, several projects initially scheduled for completion in the quarter had to be postponed to later in the year,” said Priyadarshini Sanjay, Managing Director of Mercom India.
However, Mr. Sanjay also states that the industry is now adjusting the project timelines to ensure successful implementation. Also, ALMM exemption provided relief to developers who were struggling to procure modules due to high costs.
Additionally, the average system cost of large-scale solar projects dropped for the first time in eleven quarters. A 5% drop was witnessed in Q12023, due to the decline in prices of solar cells and modules.
Click Here for more updates
Resource: Mercom India
Leave A Comment