India surpasses 50GW of solar

Share

From pv magazine India

India added 3.17GW of solar power in the fourth quarter of 2021, and about 80% (2.5GW) of the total was utility-scale capacity. Around 16% (520MW) was rooftop solar, while just 4% (120MW) was off-grid PV capacity, according to Bridge To India’s latest quarterly report.

The nation’s cumulative installed PV capacity stood at 50.5GW by Dec. 31, 2021. This included 40.4GW of utility-scale, 8.57GW of rooftop solar, and 1.47GW of off-grid capacity. Total project capacity in pipeline (projects allocated to developers and at various stages of development) stood at 63.3GW.

Bridge To India analysts expect the first quarter of 2022 to see PV capacity additions surge to 3.7GW as developers rush their installations before PV module costs go up due to the imposition of a basic customs duty from April 1.

“Total EPC cost for utility-scale solar increased from INR 31.19/Wp to INR 33.14/Wp in Q4 2021 on account of increase in goods and services tax (GST) from 5% to 12%. Cost is expected to further shoot up in Q2 2022 due to imposition of 40% basic customs duty on modules,” according to the report.

Prices for mono-PERC modules, currently at US$0.27/Wp, are likely to remain relatively firm over (the) next two quarters and fall gradually by end of the year due to strong global demand and persistent supply chain constraints in China,” added Bridge To India.

Author: Uma Gupta

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.

Popular content

Akaysha lands $650 million to fund 1,660 MWh Orana battery build
15 July 2024 Australian battery storage developer Akaysha Energy has secured a $650 million debt deal that will accelerate the development of what is to be the lar...