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INDIA'S SOLAR INSTALLATIONS PLUMMET 47% IN FIRST NINE MONTHS
The Business Guardian
|November 28, 2023
CERC clarifications, issued late in the quarter, aim to resolve uncertainties for project developers regarding long-term access to transmission networks, easing connectivity issues ahead
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According to the latest report from research firm Mercom India, solar installations in India saw a notable decline of 47% during the period from January to September 2023. The total installations stood at 5.6 GW, reflecting a substantial drop attributed to delays in project execution.
In specific, the July-September quarter marked a 34% decrease in solar capacity installations, amounting to 1.9 GW compared to the 2.8 GW installed during the same period in the previous year.
Despite this, there was a slight quarter-on-quarter increase of nearly 6% from 1.8 GW in Q2 2023. The report highlighted a significant decline from the 9M 2022 figures when India had installed 10.5 GW of solar capacity during the same period.
The utility-scale installations faced a more substantial setback, plummeting by over 54% year-over-year to 4.2 GW.
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