From pv magazine India
India installed 3,338 MW of new solar power capacity in the third quarter of 2022, bringing cumulative PV installations to 64.2 GW by the end of September. Of the new additions, 2.6 GW came from utility-scale solar, 485 MW from the rooftop, and 251 MW from off-grid installations, according to Bridge to India’s latest report.
Capacity installations declined 13% quarter on quarter in the July-September period, as developers postponed projects in anticipation of a decline in module prices next year. A lack of clarity about the concessional basic customs duty (BCD) for projects auctioned before March 2021 also slowed progress, said the analysts.
“Prices of both international and domestic modules softened slightly and are expected to continue easing gradually through all of 2023. EPC cost for utility-scale solar saw a 7% QOQ decline to INR 43.3 ($0.53)/Wp,” said Bridge to India.
Module imports picked up marginally throughout the quarter, but exports also grew to an all-time high. The total amount of PV in the national pipeline stood at 53,405 MW as of Sept. 30. This includes projects allocated to developers and installations in various stages of development. Bridge to India said it expects the country to add about 3.2 GW of PV capacity in the fourth quarter of 2022 and 3 GW in the first quarter of 2023.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
1 comment
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.