Investments in the Indian solar sector in the third quarter of the calendar year 2023 totaled $1.57 billion (~₹129.86 billion), a 22% year-over-year decrease from $2.02 billion (~₹166.29 billion). The figures were revealed in Mercom India Research’s latest report, Q3 2023 India Solar Market Quarterly Update. The decline was primarily due to lower installations during the quarter due to the delays, extensions, and postponements of utility-scale projects to 2024. Additionally, the falling module prices lowered project costs and the required investments.