Q1 2023 MERCOM INDIA SOLAR OPEN ACCESS MARKET REPORT – 518 MW INSTALLED IN Q1 2023
India added 518 megawatts (MW) of solar open access, an increase of over 68% compared to 308 MW installed in Q4 2022, installations were down 37% year-over-year (YoY), according to the newly released “Q1 2023 Mercom India Solar Open Access Market Report”.
In Q1 2023, Karnataka remained the leading state, accounting for over 55% of capacity additions, followed by Maharashtra (14%) and Tamil Nadu (8%). The top five states comprised of 88% of total installations during the quarter.
As of March 2023, cumulative installed solar open access capacity reached 8.3 GW.
As of March 2023, the country’s pipeline of open access solar projects stood at 6.4 GW. Over 68% of the pipeline was spread across Andhra Pradesh, Rajasthan, Maharashtra, Karnataka, and Gujarat.
Karnataka remained the top state, accounting for over 37% of cumulative solar open access capacity as of March 2023. Maharashtra made up over 12% of total installations.
The report offers a detailed analysis of the solar open access segment in seventeen states, including open access charges, retail supply tariffs, and market size.
The report also highlights the views and opinions of the top open access installers nationwide during the quarter.
Key Highlights from Mercom India Research’s Q1 2023 India Solar Open Access Market Report
- In Q1, 518 MW of solar open access was added, up 68% QoQ and down 37% YoY
- Karnataka was the leading state, accounting for over 55% of capacity additions in Q1 2023
- Maharashtra and Tamil Nadu ranked second and third making up around 14% and 8% of total installations in Q1 of 2023
- As of March 2023, total installed solar capacity in the open access segment was around 8.3 GW
- The top five states account for nearly 74% of cumulative solar open access installations
- As of March 2023, the pipeline of solar open access projects was over 6.4 GW
Contact Mercom for pricing: reports@mercomindia.com or call us at +91-80-41211148.
