Indian solar market may contract by 23% this year


From pv magazine India

India will install 23% less solar capacity this year than it did in 2019, according to a new report by the International Energy Agency (IEA).

However, the IEA said that it expects the market to rebound in 2021, with capacity additions to exceed 2019 levels. The report attributed the anticipated slowdown to the poor financial health of state-owned distribution companies, and the ongoing Covid-19 crisis has only put additional pressure on them.

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