The average cost of large-scale solar projects in India dropped by almost 23% year-over-year (YoY) in the third quarter (Q3) of calendar year (CY) 2024, according to Mercom India Research’s recently released Q3 2024 India Solar Market Quarterly Update. The costs remained flat quarter-over-quarter (QoQ). In Q3 2024, solar module costs fell 3.3% QoQ, accounting for almost 47% of average large-scale solar project costs.

India’s solar module and cell imports totaled $986.5 million (~₹82.6 billion) in Q3 of 2024, down 19% YoY, according to data from the Department of Commerce. Approximately 60% of the quarter’s imports were modules, and the rest were cells. The total solar imports were up 27% QoQ, while solar module imports increased 39.6% QoQ. Solar cell imports in Q3 were up 12.3%, primarily driven by the increased demand for Indian solar modules since the Approved List of Models and Manufacturers (ALMM) order’s reimposition in April 2024.

The Indian solar industry faces potential disruption due to the imposition of anti-dumping duties on solar glass imports from China. While designed to protect domestic manufacturers, the duties have raised concerns about further module price increases in an industry already grappling with higher costs since April following the reimposition of ALMM. Solar glass is a critical component, accounting for 8% of total module costs.

The landed cost of third-party solar open access projects of high-tension industrial consumers increased in 12 of the 15 states included in Mercom’s recently released Q3 2024 India Solar Open Access Market Report. The cost increase was primarily driven by a rise in power purchase agreement prices. In the Q3 of the CY 2024, India added about 1.1 GW of solar open access capacity, down 36% QoQ and 6.5% YoY.

LEAPTING, Vayu Solar, Airtouch Solar, Aegeus Technologies, and Langfang Sol-Bright Photovoltaic Technology were the top five robotic solar module cleaning equipment suppliers to the Indian solar market in the first half (1H) of CY 2024, according to Mercom’s recently released India Solar Market Leaderboard 1H 2024 report. LEAPTING led the country’s robotic solar module cleaning equipment shipments, accounting for 22.5%. Vayu Solar and Airtouch Solar followed, accounting for 20.8% and 16.6% respectively.

Tamil Nadu added record solar open access capacity in the first nine months (9M) of CY 2024, surpassing the annual capacity additions of the previous years, according to Mercom’s Q3 2024 India Solar Open Access Market Report. India added 4.8 GW of solar open access capacity in 9M 2024, up almost 69% from 2.8 GW in 9M 2023. Tamil Nadu ranked fourth among states during this period, accounting for nearly 12% of the installations in the country.

Goodluck India, Arctech, Strolar Mounting Systems, Raydean Industries, and Metalkraft Forming Industries were the top five module mounting structure suppliers to the Indian solar market in 1H of the calendar year 2024, according to Mercom’s India Solar Market Leaderboard 1H 2024. Goodluck India led the solar module mounting structure shipments with a market share of 25.5%. Arctech and Strolar Mounting Systems followed with 15.5% and 14.9% of the shipments. Raydean Industries and Metalkraft Forming Industries achieved markets shares of 13.7% and 11.9% respectively.

Haryana and Odisha accounted for just 0.4% of the solar open access installations in 9M 2024 and 1.1% in Q3 2024, according to Mercom’s Q3 2024 India Solar Open Access Market Report. However, certain regulatory and policy changes in the two states have made them attractive for solar open access. India added 4.8 GW of solar open access capacity in the first nine months of 2024, up almost 69% compared to 2.8 GW installed in 9M 2023.

The Government of Meghalaya has issued the Meghalaya Power Policy 2024, which seeks to foster a sustainable, inclusive, and efficient energy environment in the state. The policy addresses power generation, transmission, and distribution challenges while promoting renewable energy and ensuring sustainable development.

The Central Electricity Regulatory Commission (CERC) issued its third “Removal of Difficulties” order for the Indian Electricity Grid Code 2023. The order addresses critical issues regarding the scheduling of infirm power and trial operations for renewable energy projects. CERC issued interim clarifications under Regulations 58 and 60 of the Grid Code to address immediate concerns. These provisions stand until the Grid Code is amended.

The Ministry of New and Renewable Energy has updated the ALMM for solar photovoltaic modules, with the addition of a combined capacity of 2,271 MW by four manufacturers. The cumulative module manufacturing capacity under ALMM now stands at 62,765 MW. Bluebird Solar, Novasys Greenergy, ReNew Photovoltaics, and Saatvik Green Energy are the companies that added capacities.

The Appellate Tribunal for Electricity has directed Andhra Pradesh distribution companie to deduct the Generation Based Incentive (GBI) amounts retrospectively from the wind project tariffs, starting from the date of the filing of the petition on February 14, 2017, until they were fully credited. This decision aimed to rectify the omission of GBI consideration in the generic tariff orders dated August 1, 2015, and March 26, 2016, which violated Clause 20 of the APERC 2015 Regulations.

The National Green Tribunal (NGT) has sought responses from multiple government agencies on a plea regarding improper disposal and recycling of photovoltaic solar modules. The NGT was responding to a letter petition from a resident from Sapai village, Kanpur, Uttar Pradesh. It drew attention to the lack of waste management protocols and proper disposal of damaged solar panels from agricultural solar systems usage in villages under the PM KUSUM program.

Eighty airports across India are operating on 100% green energy. Airports in Delhi, Mumbai, Hyderabad, and Bengaluru have achieved Level 4+ and higher Airports Council International (ACI) accreditation and are carbon-neutral. Minister of State for Civil Aviation Murlidhar Mohol told the Rajya Sabha that airport operators, including the Airports Authority of India (AAI), have installed onsite and offsite solar power projects to generate energy.

Mumbai-based rooftop solar company SolarSquare has raised $40 million in a Series B funding round. Lightspeed led the round with participation from Lightrock. SolarSquare’s current investors, Elevation Capital, Lowercarbon, Rainmatter, and Gruhas Proptech, also participated in this funding round. SolarSquare aims to use the newly raised funds to expand operations to over 50 cities from its current footprint of 20.

The Gulf Cooperation Council green hydrogen industry is poised for accelerated growth, fueled by improved economic activity. The latest World Bank GCC Economic Update projects that the six-nation bloc’s economy will grow by 4.2% between 2025 and 2026, driven by ongoing economic diversification and strategic reforms. GCC countries aim to utilize hydrogen extensively to decarbonize their hardest-to-abate sectors.