Renewable Sector

Our monthly market intelligence report on renewables gives complete update on all areas of solar and wind sector primarily. This will be a useful guide for equipment suppliers, developers as well as investors to keep abreast with the latest updates in the sector and make informed decisions.

The objective of this report is to study in quarterly trends across the Indian solar and wind sector. The report covers state wise installations trends, tender updates, quarterly market share trends of project developers and equipment suppliers.

India, which is aggressively adding solar photovoltaic (PV) manufacturing capacity, will likely maintain the momentum in its exports to the U.S. and Europe till 2025. By then, once the local module manufacturing sector develops in the U.S. and Europe, India will need to start exploring other export markets like Africa and South America.

With the growth of Renewable Energy (RE) in the past decade, several C&I entities have endeavored to shift their electricity consumption from brown conventional power to green RE based power. This shift facilitates significant savings on electricity costs and drives down net carbon emissions, in line with several of the large-scale C&I entities sustainability targets. Hence, through this case study, we have analyzed the RE adoption efforts of Solara Active Pharma Sciences, a leading pharmaceutical manufacturer in India.

In India, the steel industry contributes to around 2% of the Gross Domestic Product (GDP) and is critical to the country’s progress. In the fiscal year (FY) 2023, the production of finished steel in India was 122.3 million tonnes, an increase of about 7.6% over the previous year.

India’s rooftop solar market is bubbling with new energy, even though there are major roadblocks. The country is likely to add a record-high 4 gigawatts (GW) of rooftop solar power capacity in fiscal year (FY) 2024, half of which has already been installed in the first four months, according to industry estimates.

With the growth of Renewable Energy (RE) in the past decade, several C&I entities have endeavoured to shift their electricity consumption from brown conventional power to green RE based power. This shift facilitates significant savings on electricity costs as well as drive down net carbon emissions, in line with several of the large-scale C&I entities sustainability targets. Hence, through this case study, we have analysed the RE adoption efforts of MP Birla Cement viz. one of the largest cement manufacturers in India.

Bifacial technology is swiftly gaining prominence in the solar market, both in utility and Commercial and Industrial (C&I) segment. Combining bifacial modules with solar tracking mechanism increases the energy gain of the plant. Hence, through this case study of an already operational bifacial solar + single axis solar tracker project, we are analysing in detail the complexities associated with this pairing of solar project technologies.

The objective of this report is to study in quarterly trends across the Indian solar and wind sector. The report covers state wise installations trends, tender updates, quarterly market share trends of project developers and equipment suppliers.

The objective of this report is to study in detail annual trends across the Indian solar sector. The report covers state wise installations trends, tender updates, annual market share trends of project developers and equipment suppliers.

The objective of this report is to study in quarterly trends across the Indian solar and wind sector. The report covers state wise installations trends, tender updates, quarterly market share trends of project developers and equipment suppliers.

The case study highlights in detail several parameters associated with BESS systems including, project specifications, equipment used, project cost economics, project operation and performance etc.

India’s nameplate manufacturing capacity for solar photovoltaic (PV) modules will likely reach 110 gigawatts (GW) by 2026. Upon reaching that mark, the country would attain self-sufficiency for its solar PV module demand.

The objective of this report is to study in detail annual trends across the Indian solar sector. The report covers state wise installations trends, tender updates, annual market share trends of project developers and equipment suppliers.

The objective of this report is to study in quarterly trends across the Indian solar and wind sector. The report covers state wise installations trends, tender updates, quarterly market share trends of project developers and equipment suppliers.

The report highlights that the total tenders issued for solar, wind and hybrid from 2010 to 2022 amounted to 161GW, with an allotted capacity of 114GW. Over the past few years, tendering (both issuance and allotment) of utility-scale projects (mainly solar and wind) has shown a downward trend and is not in tandem with government targets.

The case study highlights in detail several parameters associated with bifacial projects including, project specifications, equipment used, project cost economics, project performance etc. To understand end consumer benefit, consumption details are also analyzed in detail to estimate annual cost savings as well as CO2 abatement from the project.

The report looks in detail at the several parameters crucial for understanding wind solar hybrid systems in general. These include specifications, equipment used, costing, project performance etc. In order to understand the end consumer benefit, consumption details of two major consumers (NTT and Cargill) are further studied in detail.

The objective of this report is to study in quarterly trends across the Indian solar and wind sector. The report covers state wise installations trends, tender updates, quarterly market share trends of project developers and equipment suppliers.

The report states that India’s residential rooftop solar capacity as of 31 March 2022 may only be a mere 2,010 MW. By the end of fiscal year 2023, we expect cumulative residential rooftop solar capacity to reach 3,214 MW, nearly a 60% year-on-year increase.

The objective of this report is to study in quarterly trends across the Indian solar and wind sector. The report covers state wise installations trends, tender updates, quarterly market share trends of project developers and equipment suppliers.

The report states that from around 300 megawatts (MW) in 2009, the market size of renewable energy OA grew to ~10 gigawatts (GW) by the fiscal year (FY) 2022. Two-thirds of the 10GW capacity came online in the past five years (FY2018-FY2022) alone.

The objective of this report is to study in detail annual trends across the Indian solar sector. The report covers state wise installations trends, tender updates, annual market share trends of project developers and equipment suppliers.

The report finds that NTPC and SECI tenders, if well executed, will offer opportunities to spur domestic manufacturing of batteries, boost investor confidence and create new business opportunities in the short-to-medium term.

The report projects that solar tariffs will climb even further following the recent imposition of a basic customs duty (BCD) of 40% and 25% on imported solar modules and cells respectively, and the implementation of the Approved List of Models and Manufacturers (ALMM), a non-tariff barrier covering complying solar modules which excludes modules made outside India.

The objective of this report is to study in quarterly trends across the Indian solar and wind sector. The report covers state wise installations trends, tender updates, quarterly market share trends of project developers and equipment suppliers.

This report anticipates that by December 2022 there will be a shortfall of 25GW from the 40GW rooftop solar target, and 1.8GW from the 60GW utility-scale solar target, indicating the need for a concerted effort towards expanding rooftop solar. On the current trajectory, India’s solar target of 300GW by 2030 will be off the mark by about 86GW.

The objective of this report is to study in detail annual trends across the Indian solar sector. The report covers state wise installations trends, tender updates, annual market share trends of project developers and equipment suppliers.

The Indian government’s ambitious targets and support for the solar sector have made indigenous PV manufacturing’s prospects even more vibrant. In addition to the PV manufacturing landscape, this report delves into key aspects such as major government initiatives, ongoing challenges and an overview of the way forward for India.

The objective of this report is to study in quarterly trends across the Indian solar and wind sector. The report covers state wise installations trends, tender updates, quarterly market share trends of project developers and equipment suppliers.

New restrictions on banking of power will inhibit the growth of the rooftop and open-access solar market, and potentially slow progress towards India’s national target of 450 gigawatts (GW) of installed renewable capacity by 2030, according to a new briefing note by the Institute for Energy Economics and Financial Analysis (IEEFA) and JMK Research.

The objective of this report is to study in quarterly trends across the Indian solar and wind sector. The report covers state wise installations trends, tender updates, quarterly market share trends of project developers and equipment suppliers.

This report examines key tender conditions applicable to the RTC-1 and 2 tenders and briefly evaluates their impact on the relevant projects and stakeholders (discoms and developers), while also analysing the tenders’ alignment with the intrinsic demand-based approach of the RTC mode of power supply.

MSMEs could play an important role in achieving India’s ambitions of large-scale uptake of rooftop solar if accessible financing options were made more readily available to them. Since 2015, rooftop solar project developers have raised more than US$2 billion, 48% (US$985 million) of which came from equity funding and 29% (US$599 million) from debt. Around 45% of these investments was raised in the first eight months of 2021 alone. The report outlines recommendations for stakeholders and policymakers to make rooftop solar a more viable and attractive option to MSME customers..

The objective of this report is to study in quarterly trends across the Indian solar and wind sector. The report covers state wise installations trends, tender updates, quarterly market share trends of project developers and equipment suppliers.

India’s experience with the rise in rooftop solar or onsite solar has been led by the Commercial and Industrial (C&I) segment. This segment comprises about three-quarters of the Indian rooftop solar market. Although the COVID pandemic created major disruptions and slowed the installation rate in 2020, the C&I segment is expected to bounce back and increase the pace of deployment of solar installations. This is because amidst the pandemic-induced challenges, it has become more of a necessity for the C&I sector to optimise costs. This can be achieved by adopting various new innovative technological rooftop solar solutions.

The objective of this report is to study in detail annual trends across the Indian solar sector. The report covers state wise installations trends, tender updates, annual market share trends of project developers and equipment suppliers.

The objective of this report is to study in quarterly trends across the Indian solar sector. The report covers state wise installations trends, tender updates, quarterly market share trends of project developers and equipment suppliers.

Delays in signing power sale agreements (PSAs) are a bottleneck in the growth of renewable energy capacity in India, jeopardising the government’s renewable energy target of 175 gigawatts (GW) by 2022, dampening investor confidence and threatening the viability of projects, finds a new briefing note from the Institute for Energy Economics and Financial Analysis (IEEFA) and JMK Research.

The objective of this report is to study in detail annual trends across the Indian solar sector. The report covers state wise installations trends, tender updates, annual market share trends of project developers and equipment suppliers.

The objective of this report is to study in quarterly trends across the Indian solar sector. The report covers state wise installations trends, tender updates, quarterly market share trends of project developers and equipment suppliers.

According to a new briefing note from IEEFA and JMK Research & Analytics that says a provision in the Ministry of Power’s new rules for electricity consumers which mandates net metering for rooftop solar projects up to 10kW and gross metering for systems with loads above 10kW will likely make rooftop solar commercially unviable for big residential and commercial and industrial (C&I) consumers

For our client WBCSD, as part of their Indian Corporate Renewable PPA Forum, JMK Research has prepared a Market & Policy update for 2020. The update tracks policy changes, analyzes new business models and explores future trends that are likely to define the growth of corporate renewable PPAs in India.

In a new report from JMK Research and Climate Trends, an economic viability analysis reveals that renewable energy along with battery storage in Tamil Nadu is cost competitive with new coal power plants. The report finds the levelized cost of energy for a hypothetical hybrid renewable battery storage system for the state to be Rs. 4.97/kWh in 2021, which falls to Rs. 3.4/kWh by 2030

In a new report from JMK Research and IEEFA, various critical parameters like policy, cost, R&D expenditure, technology adoption, are analyzed in detail between India and China to assess the viability of new module PV manufacturing facilities in India.

In a new report from JMK Research and IEEFA, various critical parameters are analysed that could have led to historic low solar tariff of Rs 2/ kWh in India

In a new report from JMK Research & Analytics and IEEFA, we have analysed in detail national and state policies and regulatory developments, tender activity, key players in the market, upcoming capacity addition, tariff analysis and the risks and challenges associated with this technology.

In a new report from JMK Research & Analytics and the Institute for Energy Economics and Financial Analysis (IEEFA), a detailed analysis is done to analyse why the Gulf region has the cheapest solar tariffs in the world. To understand how the Gulf region is achieving such low tariffs, and whether those tariffs can be achieved in other countries, we developed a financial model as a basis for comparison.

A new report from JMK Research & Analytics and the Institute for Energy Economics and Financial Analysis explores the increasing awareness of the benefits of rooftop solar electricity for India’s corporate consumers.

The objective of this report is to study in detail annual trends across the Indian solar sector. The report covers state wise installations trends, tender updates, annual market share trends of project developers and equipment suppliers.

The objective of this report is to study current solar tariff trends in India and decoding developers return on investments using a financial model. Sensitivity analysis is performed on critical factors- Project location, offtake risk profile, project size, cost of financing, and module costs and impact on returns is analysed.

The objective of this report is to study in detail annual trends across the Indian solar sector. The report covers state wise installations trends, tender updates, annual market share trends of project developers and equipment suppliers.

For our client WBCSD, as part of their Indian Corporate Renewable PPA Forum, JMK Research has prepared a Market & Policy update for December 2019. The update tracks policy changes, analyzes new business models and explores future trends that are likely to define the growth of corporate renewable PPAs in India.

The report analyzes the current cost dynamics of battery storage systems in India. Detailed analysis of technical and financial parameters of the Solar+storage system for three different scenarios for Commercial and Industrial (C&I) segments were analyzed to assess the economic viability of solar+battery storage systems across key states.

The objective of this report is to study in detail key trends around the global offshore wind market and understand how this market is going to evolve in India. The report examines recent initiatives, taken by the Indian Government, such as the announcement of offshore wind policy, the offshore wind targets for 2022, and the response to Expression Of Interest (EOI) for the first 1 GW of offshore wind project planned in Gujarat, among others.

Market brief covers key market trends across the Indian renewable sector. The report highlights renewable power procurement trends by the Commercial & Industrial (C&I) segment , OPEX market outlook, installations trends in wind sector, challenges of wind-solar hybrid model, among others.

Policy brief covers recent policy announcements made by the central and state government agencies in India. The report includes a brief summary and analysis of Forecasting & Scheduling regulations, Net-metering regulations, KUSUM, and SRISTI schemes, among others.