Q3 2018 INDIA SOLAR QUARTERLY MARKET UPDATE – Solar Installations in India Totaled 1,589 MW in Q3 2018

India’s solar installations have reached 6.6 GW year-to-date with large-scale projects making up 5,382 MW and rooftop installations accounting for 1,240 MW.

Solar installations in India in Q3 2018 witnessed a slight decline with 1,589 MW, a 4 percent decrease compared to 1,659 MW installed in Q2 2018. Installations were also down about 30 percent year-over-year (YoY) compared to 2,278 MW installed in Q3 2017.

In Q3 2018, large-scale installations totaled 1,154 MW compared to 1,244 MW in Q2 2018 and 2,984 MW in Q1 2018. This is a 43 percent decline YoY when compared to 2,013 MW installed in Q3 2017.

Rooftop installations in Q3 2018 accounted for 435 MW, which was a 5 percent increase from 415 MW installed in Q2 2018 and a 64 percent increase compared to 265 MW installed in Q3 2017.

In Q3 2018, large-scale solar projects accounted for 73 percent and rooftop solar accounted for the other 27 percent.

Cumulative solar installed capacity totaled 26 GW at the end of Q3 2018 with large-scale solar projects accounting for 89 percent and rooftop solar making up the remaining 11 percent.

Mercom India Research is forecasting solar installations of approximately 8 GW in calendar year (CY) 2018.

Contact Mercom for pricing: reports@mercomindia.com or call us at 011-91-802-356-0436.