The net solar installed in India accounted for 8,263 MW in 2018. This year saw a decline of 15.5 percent compared to 9,782 MW in 2017. The main issues behind this were changes in safeguard duty, GST issues, and land and transmission issues. The change in policies took a toll on the large-scale installations. But, the country saw increased capacity for Rooftop solar.
Quarter 4 2018 installations added to 1,638 MW, up three percent quarter-over-quarter from the 1,589 MW installed during Q3 2018. Installations were down about 52 percent year-over-year (YoY) compared to 2,491 MW installed in Q4 2017.
Raj Prabhu, CEO and co-founder of Mercom Capital Group, said,
“To succeed in the Indian solar market, companies need to play the long game. For the first time in India’s history, solar made up over 50 percent of new power capacity in 2018. We will continue to see a steady shift toward solar as prices continue to drop. This is going to be the new normal as coal plants continue to shutter.”
Karnataka, Rajasthan, Andhra Pradesh, Tamil Nadu, and Maharashtra, together these five states accounted for 81 percent of large-scale installations in the year 2018 with Karnataka topping the list. In 2018, investments in the Indian solar sector totalled over $9.84 billion. The year was highlighted by 11 mega tenders of 1 GW in size or more.
A report by Mercom India found that,
“Solar parks continue to face issues in providing clearly demarcated ready land for project development, causing undue delays and pressure on the developers who end up having a shorter timeline to complete the project and the fear of having to pay penalties due to no fault of their own. Government agencies have continued to tender and auction without making sure land, and transmission infrastructure are ready, and it is up to the developers to do the necessary due diligence and understand the risk profile before participating in the auctions.”
Source: The Hindu Business Line
A group of tech enthusiasts who are tracking latest developments in CleanTech with special focus on Energy Storage and Electric Mobility