Q1 2020 INDIA SOLAR MARKET UPDATE – 1,080 MW INSTALLED IN Q1 2020
The cumulative solar installed capacity totaled 36.8 GW at the end of Q1 2020.
Solar installations in India declined by 43% in Q1 2020 reaching 1,080 MW, compared to 1,897 MW in Q4 2019. Installations were down by 39% year-over-year (YoY) compared to 1,761 MW in Q1 2019. Solar capacity additions in India in Q1 2020 were the lowest in a quarter since Q4 2016. In Q1 2020, large-scale solar projects totaled 886 MW, and rooftop solar installations added up to 194 MW.
The report forecasts solar installations of approximately 5 GW in 2020 as project timelines are extended and moved to 2021. The report goes into a detailed analysis of three different forecast scenarios.
The report identifies the lockdown imposed on the entire country due to the coronavirus pandemic since March 25, 2020, and the supply disruption caused by the shutdown in China as the reasons for solar installation declines in Q1 2020.
According to the report, cumulative solar installations reached 36.8 gigawatts (GW) at the end of Q1 2020. Large-scale solar projects accounted for 32.2 GW, whereas rooftop solar installations accounted for 4.6 GW.
The large-scale solar project development pipeline stands at 36.9 GW, along with 38.8 GW of projects tendered and pending auction at the end of Q1 2020.
Key Highlights from Mercom India Research’s Q1 2020 India Solar Market Update
- In Q1 2020, India added 1,080 MW of solar installations, a decline of 43% compared to 1,897 MW installed in Q4 2019. YoY installations declined by 39% compared to 1,761 MW in Q1 2019
- In Q1 2020, large-scale solar installations added up to 886 MW, while rooftop installations accounted for 194 MW
- 194 MW of rooftop solar projects were installed in Q1 2020, a decline of 36% compared to 304 MW added in Q4 2019. YoY installs fell by 26%, compared to 263 MW installed in Q1 2019
- Cumulative solar installed capacity in India was approximately 36.8 GW at the end of Q1 2020.
- The large-scale solar project pipeline in India stands at 36.9 GW with 38.8 GW tendered and pending auctions at the end of Q1 2020
- Mercom forecasts installations of approximately 5 GW for CY 2020
- In Q1 2020, investments in the India solar sector totaled over $970 million (~₹72.9 billion), 40% lower compared to Q4 2019
- Solar now represents 9.8% of the total power installed capacity in India as of Q1 2020
- Electricity generated from solar in FY 2019-20 accounted for 3.6% compared to 2.85% in FY 2018-19
Contact Mercom for pricing: email@example.com or call us at 011-91-802-356-0436.
Utsav Sinha, a senior research analyst covering cleantech markets and has been with Mercom since 2014. Utsav is also an online editor at MercomIndia.com and ensures overall content quality for the site. Utsav earned his bachelor’s degree in Computer Science and Engineering from Dhaneswar Rath Institute of Engineering and Management Studies (DRIEMS) at Biju Patnaik University of Technology, Odisha. More articles from Utsav.