India added 3.3 GW of solar in Q3 – Commercial

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From pv magazine India

India put in 3,338 MW of recent solar energy capability within the third quarter of 2022, bringing cumulative PV installations to 64.2 GW by the tip of September. Of the brand new additions, 2.6 GW got here from utility-scale photo voltaic, 485 MW from the rooftop, and 251 MW from off-grid installations, based on Bridge to India’s newest report.

Capability installations declined 13% quarter on quarter within the July-September interval, as builders postponed tasks in anticipation of a decline in module costs subsequent yr. An absence of readability in regards to the concessional primary customs responsibility (BCD) for tasks auctioned earlier than March 2021 additionally slowed progress, mentioned the analysts.

“Costs of each worldwide and home modules softened barely and are anticipated to proceed easing regularly by means of all of 2023. EPC value for utility-scale photo voltaic noticed a 7% QOQ decline to INR 43.3 ($0.53)/Wp,” mentioned Bridge to India.

Module imports picked up marginally all through the quarter, however exports additionally grew to an all-time excessive. The entire quantity of PV within the nationwide pipeline stood at 53,405 MW as of Sept. 30. This consists of tasks allotted to builders and installations in varied levels of growth. Bridge to India mentioned it expects the nation so as to add about 3.2 GW of PV capability within the fourth quarter of 2022 and three GW within the first quarter of 2023.

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