Q3 2020 INDIA SOLAR MARKET UPDATE – INSTALLATIONS RISE TO 438 MW
The cumulative solar installed capacity totaled ~37.4 GW at the end of Q3 2020.
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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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.