Market trends

India Records 2.6X Y-o-Y Surge in Solar Installation in FY2021-22 In the context of domestic solar installation, India has just passed through a record-breaking financial year. FY2021-22 saw 13.9 GW of solar panel installation in India. It is the first time when annual (FY) solar installation of India crossed 10 GW capacity. The fact that FY2022 solar installation grew by 2.6 times over that of the previous year is undoubtedly impressive. Also noteworthy is that solar capacity addition of FY2022…

~38% Increase in Module Prices in last 20 Months (August 2020 – March 2022) In the past decade, the world has witnessed a solar boom. Annual Solar Installations across the globe have increased from 18 GW in 2010 to 183 GW in 2021 and is projected to increase to 334 GW by 2030.[1] Similarly in India, cumulative installed solar capacity has increased manifold from 161 MW in 2010 to 55 GW as of December 2021.[2] One major reason for such…

About 18 GW Of Module And 14 GW Of Cell Production Capacity To Be Added By CY2023 in India Solar photovoltaic (PV) manufacturing industry of India, of late, has been receiving significant impetus. Currently, India has a PV manufacturing base of 18 GW for solar module and 4 GW for solar cell. The module production capacity is anticipated to grow at an unprecedented rate of ~40% (CAGR) over the next 2 years. Figure 1: Leading Domestic Solar PV Manufacturers in…

Closing In On The Deadline, Domestic Content Requirement Schemes Are Still Far Away From Their Targets Domestic content requirement (DCR) mandates the use of both solar cells and modules manufactured domestically as per specifications and testing requirements fixed by the Ministry of New and Renewable Energy (MNRE). The DCR was incorporated into the Jawaharlal Nehru National Solar Mission (JNNSM) or National Solar Mission (NSM) adopted in 2010 with the objective of developing domestic solar manufacturing and making India a solar…