India installed 14GW of new PV in 2021. This year, utility-scale developers are pushing to import modules and build inventory for 2022 installations, before a basic customs duty goes into effect in May, with a 40% duty for module imports and 25% for cells. PV module distributors are also expected to build their inventories to save on duties and have enough supply for the C&I segment in 2022. After assessing the country’s current demand, project pipeline, and module availability, IHS Markit’s Dharmendra Kumar forecasts 18GW to be added in 2022.
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