Q3 2020 INDIA SOLAR MARKET UPDATE – INSTALLATIONS RISE TO 438 MW

India added 438 megawatts (MW) of solar capacity in Q3 2020, a 114% increase compared to 205 MW installed in Q2 2020. Solar installations were down by 80% year-over-year (YoY) compared to 2,177 MW added in Q3 2019.

Solar installations in the first nine months (9M) of 2020 totaled 1.73 gigawatts (GW), a 68% decline compared to 5.48 GW added in the same period of 2019.

Large-scale installations totaled 283 MW compared to 120 MW in the previous quarter. Year-over-year, large-scale installation levels decreased by 85% compared to 1,932 MW installed in Q3 2019.

Rooftop solar installations accounted for 155 MW in Q3 2020, an increase of 82% compared to 85 MW installed in Q2 2020. Year-over-year, rooftop installations declined 37% compared to the 245 MW added in Q3 2019.

Maharashtra, Haryana, and Uttar Pradesh were the top three states for solar capacity additions, representing around 63% of Q3 installations.

Key Highlights from Mercom India Research’s Q3 2020 India Solar Market Update

• Solar installations in India in Q3 2020 totaled 438 MW, a 114% increase compared to 205 MW installed in Q2 2020; large-scale solar installations added up to 283 MW, while rooftop installations accounted for 155 MW
• Solar installations in the first nine months (9M) of 2020 totaled 1.73 GW
• Cumulative solar installed capacity in India reached 37.4 GW at the end of Q3 2020
• The large-scale solar project pipeline in India stood at 44.7 GW, with another 34.6 GW of tendered capacity pending auctions at the end of Q3 2020
• Solar accounted for 41% of new power capacity additions in 9M 2020
• Electricity generated from solar in Q3 2020 crossed 13 billion units

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