Published By: Mohammad Haris
Last Updated: November 27, 2023, 17:40 IST
India has reported a 47 per cent fall in photo voltaic installations at 5.6 GW throughout January-September 2023, amid delay in mission execution, in accordance to analysis agency Mercom India. The installations have been additionally down in the July-September quarter this 12 months at 1.9 GW, a 34 per cent fall, over 2.8 GW photo voltaic capability put in in the identical interval a 12 months in the past, the analysis agency stated.
However, on 1 / 4-on-quarter (QoQ) foundation, the installations elevated nearly 6 per cent in contrast to 1.8 GW in Q2 2023. “During the first nine months of 2023, 5.6 GW of solar was installed in India. Solar capacity additions fell nearly 47 per cent compared to 10.5 GW installed in 9M 2022,” Mercom India Solar Market Update report stated.
The utility-scale installations dropped greater than 54 per cent 12 months-over-12 months (YoY) to 4.2 GW. “Barring significant negative developments, installations in 2024 should grow exponentially. Declining prices (of ped products) are now the cause of slower growth (compared to rising prices earlier) as developers and installers push procurement to the last minute. Hopefully, the market can handle the expected rush in Q1 2024 and thrive,” Raj Prabhu, CEO of Mercom Capital Group stated.
The extensions granted to a number of massive-scale photo voltaic and hybrid energy initiatives and people going through delays due to land and transmission points primarily affected installations in January-September 2023. The oversupply of modules in China additional lowered the common promoting costs of photo voltaic modules, which have fallen consecutively during the last 4 quarters.
The challenges in securing transmission connectivity elevated additional with the change in mission timelines. During Q3, the mission builders additionally lacked readability on software procedures underneath the amended rules for lengthy-time period entry to transmission networks. However, the Central Electricity Regulatory Commission (CERC) issued clarifications in direction of the quarter’s finish, which is predicted to ease the method over the subsequent few quarters. Several initiatives caught in the habitat of the Great Indian Bustard (GIB) are nonetheless ready for the Supreme Court order to obtain transmission connectivity.
India’s cumulative put in photo voltaic capability, together with whole rooftop photo voltaic installations, surpassed 69 GW as of September 2023. The nation’s utility-scale photo voltaic improvement pipeline stood at practically 77 GW as of September 2023, and over 68 GW of initiatives tendered have been pending public sale on the finish of Q3 2023.
Rajasthan remained the main state for cumulative massive-scale photo voltaic installations, including practically 17 GW on the finish of Q3 2023, accounting for over 28 per cent. Karnataka and Gujarat got here in subsequent with nearly 16 per cent and 11 per cent share, respectively.
(This story has not been edited by News18 workers and is revealed from a syndicated information company feed – PTI)
