India additional two,056 megawatts (MW) of solar power in the to start with quarter (Q1) of 2021, a 37% enhance at 1,505 MW in Q4 2020 and 88% compared to 1,090 MW additional in Q1 2020.
According to Mercom India Analysis Q1 2021 India Photo voltaic Sector Update, solar potential additions in India in Q1 2021 were the best in a quarter given that Q3 2019. In Q1 2021, significant-scale solar assignments totalled 1,749 MW, up 43% Q-o-Q with 307 MW additional in rooftop solar installations, an enhance of 8% Q-o-Q.
“With the 2nd wave of the pandemic hitting the region, the industry is battling solar component rate hikes and volatility. Even far more relating to is the uncertainty in procurement as shortages are widespread. Coverage limits and duties have additional to the mounting expenses and unpredictability,” claimed Raj Prabhu, CEO of Mercom Funds Group.
Also go through: IREDA invites bids for solar PLI scheme
The report forecasts solar installations of close to 7 gigawatts (GW) in 2021 in a medium-case state of affairs as challenge timelines get extended due to the 2nd wave of Covid.
The normal promoting charges (ASPs) of solar modules have risen sharply together with other elements, like iron, copper, aluminum, and steel. Freight prices are superior all about the globe, and the dearth of shipping and delivery containers is widespread. The scarcity and availability of solar glass and backsheets continue to be difficulties, in accordance to the report’s findings.
At the stop of Q1 2021, cumulative solar installations arrived at forty.9 GW. Of this, 35.five GW were from significant-scale assignments and five.4 GW were from rooftop solar installations.
The country’s significant-scale solar challenge growth pipeline stands at 53.six GW, together with 24.1 GW of assignments tendered and pending auction at the stop of Q1 2021.
In Q1 2021, Rajasthan and Uttar Pradesh were the top states for solar, followed by Gujarat and Andhra Pradesh. The top 5 states accounted for 81% of installations in the quarter.
There is a surge in desire for rooftop solar, especially from industries that see solar electricity as the greatest preference for lessening their working expenses.
Photo voltaic installations accounted for 33% of all electricity potential additional in Q1 2021. Renewables as a entire, like wind and hydro, manufactured up shut to 50% of potential additions in the quarter.
Photo voltaic electricity now represents 10.7% of the whole mounted electricity potential in India as of Q1 2021.