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Himachal Regulator Allows DISCOM to Procure 550 MW Solar Power from SECI

Agri-Solar Solutions Provider GK Energy Files Papers for ₹5.01 Billion IPO


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					</table><p><a href="https://www.mercomindia.com/assam-regulator-settlement-mechanism-rules" target="_blank" rel="noopener">The Assam Electricity Regulatory Commission has released the draft of the Assam Electricity Regulatory Commission</a> (Deviation Settlement Mechanism and Related Matters) Regulations, 2024. The regulations, which will take effect on April 1, 2025, aim to streamline the deviation settlement process, enhance grid reliability, and more effectively integrate renewable energy sources into Assam’s power system. The AERC has invited feedback from individuals and corporate bodies by November 12, 2024.</p>
<p><a href="https://www.mercomindia.com/mnre-revises-program-to-electrify-100000-households-with-off-grid-solar" target="_blank" rel="noopener">The Ministry of New and Renewable Energy has allocated an additional financial outlay of ₹9.15 billion (~$108.82 million) to provide off-grid solar</a> systems for 100,000 households in particularly vulnerable tribal group areas. The program will be executed under the Pradhan Mantri Janjati Adivasi Nyaya Maha Abhiyan and Pradhan Mantri Janjatiya Unnat Gram Abhiyan. The program has been introduced along with the continued allocation of funds of ₹241.04 billion (~$2.86 billion) under the previous program. Previously, under the PM JUGA, ₹4 billion (~$ 47.56 million) was also allocated to provide off-grid solar power plants in 2,000 public institutions.</p>
<p><a href="https://www.mercomindia.com/bihar-20-mw-solar-projects" target="_blank" rel="noopener">Bihar State Power Generation Company has invited bids to develop ground-mounted solar projects with a total capacity of 20 MW</a>. The individual project sizes can range from 2 MW to 20 MW and must be installed on private ponds using raised mounting structures under the renewable energy service company (RESCO) model. The last day to submit the bids is November 12, 2024. Bids will be opened on the next day.</p>
<p><a href="https://www.mercomindia.com/south-east-central-railway-invites-bids-for-2-mw-rooftop-solar-project">The Bilaspur Division – Electrical of the South East Central Railway has issued a tender to set up a rooftop solar project of 2 MW in the</a> CAPEX mode. The last date to submit the bids is November 13, 2024. Bids will be opened the same day. Bidders must submit an earnest money deposit of ₹583,200 (~$6,936). The advertised value of the tender is ₹86.6 million (~$1 million).</p>
<p><a href="https://www.mercomindia.com/nvvn-tenders-4-73-mw-rooftop-solar-systems-for-bhakra-beas-management-board" target="_blank" rel="noopener">NTPC Vidyut Vyapar Nigam has invited bids to develop 4.73 MW grid-connected rooftop solar systems at various locations under</a> the Bhakra Beas Management Board. The last date to submit the bids is November 12, 2024. Bids will be opened on November 13. Bidders must pay a bid security of ₹2 million (~$23,789). The successful bidders will be responsible for the design, engineering, supply, civil construction, erection, testing, and commissioning of the rooftop solar systems, connecting to existing mains/ACDB/feeder pillars and interfacing internal electrical loads of the project’s license’s network/electrical loads.</p>
<p><a href="https://www.mercomindia.com/hpcl-invites-bids-for-hydrogen-at-visakh-refinery" target="_blank" rel="noopener">Hindustan Petroleum Corporation has invited bids for the supply of 5,000 tons (5 KTPA) of green hydrogen per year to its Visakh</a> Refinery for 25 years. The last date for the submission of bids is January 21, 2025. Bidders must submit an earnest money deposit of ₹10 million (~$118,944). Bidders must select the project location, acquire land, and construct the Green Hydrogen Generation Unit with electrolyzers, power systems, and purification units. They must also conduct surveys to connect pipelines from the GHGU to the delivery point at HPCL’s refinery. This includes acquiring rights of way and ensuring compatibility with HPCL’s hydrogen distribution network.</p>
<p><a href="https://www.mercomindia.com/ashok-leyland-subsidiary-electric-bus-chennai-mtc" target="_blank" rel="noopener">OHM Global Mobility, a subsidiary of commercial vehicle manufacturer Ashok Leyland, has secured an order for 500 12-meter ultra-low floor</a> electric buses (e-buses) from the Chennai Metropolitan Transport Corporation. Switch Mobility, another subsidiary of Ashok Leyland, will supply EiV12 model buses to OHM, which will then operate and maintain the buses for 12 years, per the contract MTC awarded. A 650V electric architecture features IP67-rated batteries that power the SWITCH EiV12. Out of the 500 buses, 100 buses are air-conditioned.</p>
<p><a href="https://www.mercomindia.com/brookfield-properties-supplies-solar-power-to-its-tenants-in-delhi-ncr" target="_blank" rel="noopener">Real estate developer Brookfield Properties has said tenants in four office campuses it owns in the Delhi-NCR are sourcing 40% of</a> their energy requirements from its 550 MW solar project in Bikaner, Rajasthan, under the interstate transmission system arrangement. Brookfield said in a regulatory filing that the transition to solar energy will impact tenant spaces in its four office spaces in Gurugram and Noida, which total 1.4 million square feet. The move is expected to reduce more than 20,000 metric tons of CO2 annually. Brookfield Properties is part of Brookfield Group, which invests in renewable energy and transition assets.</p>
<p><a href="https://www.mercomindia.com/waaree-energies-ipo-oversubscribed-76-times" target="_blank" rel="noopener">Solar module manufacturer Waaree Energies’ ₹43.21 billion (~$513.95 million) initial public offering garnered strong investor</a> interest from institutional and retail buyers. At the end of the bidding window on October 23, 2024, the issue was oversubscribed 76 times. Priced between ₹1,865 (~$22.18) and ₹1,960 (~$23.31) per share with a lot size of seven shares, the IPO saw bids for 1.6 billion shares, significantly exceeding the 21.08 million shares on offer. According to data from the NSE, this resulted in a 76.34 times oversubscription. Qualified institutional buyers led the demand, with a subscription rate of 208.63 times, followed by non-institutional investors at 62.37 times. The retail investor portion was subscribed 10.61 times.</p>
<p><a href="https://www.mercomindia.com/enphase-q3-revenue-drops" target="_blank" rel="noopener">Microinverter and battery storage supplier Enphase Energy reported a revenue of $380.9 million in the third quarter of 2024, a 31% drop from $551.08</a> million a year ago. The company faced weakening demand in Europe, where revenue fell by 15%. Despite this, U.S. sales surged 43% quarter-over-quarter as inventory normalization boosted shipments. Net income for the quarter also fell by 38% to $88.4 million from $141.85 million last year.</p>
<p><a href="https://www.mercomindia.com/vehicle-deliveries-energy-storage-growth-drive-teslas-profit-in-q3-2024" target="_blank" rel="noopener">U.S.-based electric vehicle and clean energy company Tesla’s revenue for the third quarter of 2024 rose 8% year-over-year (YoY)</a> to $25.18 from $23.35 billion on the back of growth in vehicle deliveries and energy generation and storage services. The company also saw an 8% YoY rise in net profit from $2.32 billion to $2.5 billion. Earnings before interest, taxes, depreciation, and amortization (EBITDA) also rose by 24% to $4.67 billion in Q3 2024 from $3.76 billion in the same quarter last year.</p>
<p><a href="https://www.mercomindia.com/nextera-energy-reports-in-q3-2024-net-income" target="_blank" rel="noopener">U.S.-based renewables firm NextEra Energy reported a net income of $1.85 billion for the third quarter of 2024, a 52.8% increase</a> from $1.21 billion in the same period of 2023. Earnings were $2.12 billion, up from $1.92 billion, an increase of 10.4% year-over-year.</p>


Daily News Wrap-Up: AERC Unveils Draft Deviation Settlement Mechanism Rules


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					</table><p>Microinverter and battery storage supplier <a href="https://enphase.com/en-in" target="_blank" rel="noopener">Enphase Energy</a>’s net income for the second quarter (Q2) of 2024 dropped 71.4% to $58.8 million as the Nasdaq-listed company continued to face demand headwinds. This is the fourth consecutive quarter in which Enphase reported year-on-year lower profits.</p>
<p>Revenue for the quarter also fell sharply by 57.3% to $303.5 million, compared to $711.1 million last year.</p>
<p>However, the company’s battery storage business grew by 60% sequentially. Enphase shipped 120.2 MWh of IQ Batteries in Q2 from 75.5 MWh in the previous quarter as higher battery attach rates in California, attributed to the increasing adoption of NEM 3.0, drove demand.</p>
<p>“Our battery business is doing very well with growth from quarter to quarter… Our Q3 bookings are the healthiest that they have been in a year,” said CEO Badri Kothandaraman during an investor call, adding that cell pack prices are going down.</p>
<p>The company also benefits from the Inflation Reduction Act (IRA), which qualifies domestically manufactured inverters for production tax credits. Of the total 1.4 million microinverters shipped in the quarter, Enphase shipped about 574,000 microinverters from its U.S. contract manufacturing facilities.</p>
<p>“We expect to ship approximately 1.1 million microinverters from our U.S. facilities in Q3,” said Kothandaraman, adding that the company’s revenue in India has doubled from a year ago.</p>
<p><strong>First Half 2024</strong></p>
<p>Looking at the first half of 2024, the trend of decline is similar to the same period in 2023.</p>
<p>Net income for 1H 2024 fell 73.2% to $106.8 million from $397.9 million in 1H 2023, while revenue decreased 60.6% to $566.8 million from $1.44 billion.</p>
<p>The company’s net income in the previous quarter <a href="https://www.mercomindia.com/enphase-energy-income-on-weak-demand" target="_blank" rel="noopener">fell</a> 75% as its primary market U.S. saw a decline in demand.</p>
<p>Last year, Mercom reported that inverter costs <a href="https://www.mercomindia.com/inverter-suppliers-optimistic-chip-availability" target="_blank" rel="noopener">increased</a> by over 10% as manufacturers struggled to meet demand due to the limited availability of semiconductors, crucial components for inverter manufacturing.</p>


Enphase Energy’s Q2 Profit Falls 71% Amid Demand Challenges


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					</table><p>Microinverter and battery storage supplier <a href="https://enphase.com/en-in" target="_blank" rel="noopener">Enphase Energy</a> recorded a net income of $48 million during the first quarter (Q1) of 2024, a year-over-year (YoY) decrease of 75% from $192.32 million as the demand in its primary U.S. market witnessed a drop.</p>
<p>In Q1 of 2024, the company reported quarterly revenue of $263.3 million, a 63.7% decrease YoY.</p>
<p>Enphase&#8217;s revenue in the U.S. declined by roughly 34% compared to the fourth quarter (Q4) of 2023. The drop in revenue was attributed to seasonal factors and a continued softening in U.S. demand, as they persisted in reducing shipments to manage channel inventory.</p>
<p>Badri Kothandaraman, President &amp; Chief Executive Officer, said, &#8220;In the U.S., we see stable share for our microinverters and batteries based on both internal and third-party data. There have been several changes in the market over the last year, including a shift away from loans and towards lease and PPAs. Our continued strong market share is a testament towards our installer relationships and the differentiated value proposition we provide them with our products.&#8221;</p>
<p>Conversely, the company&#8217;s revenue in Europe increased by approximately 70% compared to Q4 2023.</p>
<p>The operating income amounted to $39 million, excluding $60.8 million for stock-based compensation and $7.3 million for amortization of intangible assets and restructuring. This marks a fall of 83.3% on a YoY basis compared to $233.56 million.</p>
<p>Kothandaraman added, &#8220;We have been managing through a period of slowdown in demand. We believe Q1 was the bottom quarter. Europe has already begun to recover, and we expect the non-California states to bounce back in Q2.&#8221;</p>
<p>The company closed with $1.63 billion in cash, cash equivalents, and marketable securities, generating $49.2 million in cash flow from operations.</p>
<p>Capital expenditures for the same period amounted to $7.4 million, a decrease from $20.1 million in Q4 2023, primarily due to reduced U.S. manufacturing spending.</p>
<p>During this quarter, the company repurchased 332,735 shares of common stock at an average price of $126.21 per share, totaling around $42 million.</p>
<p>Enphase also began shipping its &#8220;IQ8P Microinverters,&#8221; which claim to offer peak output AC power of 480W. These target the small-commercial market in North America and grid-tied residential applications in several countries, including South Africa, Mexico, Brazil, India, Thailand, the Philippines, France, and Spain. Currently, IQ8 microinverters are shipped to 24 countries worldwide.</p>
<p>Enphase shipped 75.5 MWh of IQ Batteries, now in their third generation, to various regions, including the U.S., Puerto Rico, Australia, the United Kingdom, and Italy. Over 4,900 installers worldwide are certified to install their IQ Batteries.</p>
<p>Approximately 506,000 microinverters were shipped from their contract manufacturing facilities in the U.S. during Q1 2024, qualifying for 45X production tax credits.</p>
<p>Upon full ramp-up, the company anticipates achieving a global capacity of approximately 7.25 million microinverter units per quarter, with 5 million units in the U.S.</p>
<p>The company&#8217;s profit for the Q4 of the financial year 2023 <a href="https://www.mercomindia.com/enphases-q4-profit-falls-slowing-demand" target="_blank" rel="noopener">fell</a> 65% from the previous year as the Nasdaq-listed company faced slowing demand and high inventory levels at its distribution partners.</p>
<p>Enphase&#8217;s net income also <a href="https://www.mercomindia.com/enphase-reports-income-decline-to-142-million-in-q3" target="_blank" rel="noopener">fell</a> by 19% in the third quarter, owing to adverse macroeconomic conditions. Specifically, revenue within the U.S. decreased by about 16%.</p>
<p>Last year, Mercom reported that inverter costs <a href="https://www.mercomindia.com/inverter-suppliers-optimistic-chip-availability" target="_blank" rel="noopener">increased</a> by over 10% as manufacturers struggled to meet demand due to the limited availability of semiconductors, crucial components for inverter manufacturing.</p>


Enphase Energy Reports Net Income Drop of 75% in Q1 on Weak Demand


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					</table><p>Microinverter and battery storage supplier <a href="https://enphase.com/en-in" target="_blank" rel="noopener">Enphase Energy</a>’s profit for the fourth quarter (Q4) of the financial year (FY) 2023 fell 65% from last year as the Nasdaq-listed company faced slowing demand and high inventory levels at its distribution partners.</p>
<p>Enphase reported a net profit of $73.4 million versus $212.4 million last year. Its quarterly revenue also fell by about 58%, from $724.6 million to $302.6 million in Q4 of FY 2023.</p>
<p>The company attributed the decline in its revenue to sequentially lower sales from the U.S. and Europe by about 35% and 70%, respectively.</p>
<p>Owing to reduced demand, the company said it is ceasing operations at its contract manufacturing locations in Romania and Wisconsin. It will instead focus on manufacturing microinverters in the U.S. with its two existing contract manufacturing partners in South Carolina and Texas.</p>
<p>The company now expects to have a global capacity of about 7.25 million microinverter units per quarter, of which 5 million units of capacity will be in the U.S. It shipped about 913,000 U.S.-made microinverters in the quarter.</p>
<p>As for battery storage, Enphase shipped about 80.7 MWh of its IQ Batteries in the fourth quarter of 2023.</p>
<p>“We have been managing through a period of slowdown in demand,” said CEO Badri Kothandaraman during a post-earning investor call. “We think Q1 could be the bottom quarter. Europe is already showing early signs of recovery, and we expect the non-California states to bounce back quickly,” he added.</p>
<p><strong>Full Year 2023</strong></p>
<p>Enphase’s full-year profit was also marginally lower, by about 5%, compared to last year. The company reported FY 2023 profit of $613 million compared to $647 million last year.</p>
<p>Meanwhile, its revenue fell by 1.7% to $2.29 billion from $2.33 billion last year.</p>
<p>In July of 2023, the company approved a share repurchase program of up to $1 billion of shares of its common stock.</p>
<p>Enphase’s net income <a href="https://www.mercomindia.com/enphase-reports-income-decline-to-142-million-in-q3" target="_blank" rel="noopener">fell</a> by 19% in the third quarter as well, owing to adverse macroeconomic conditions. Specifically, revenue within the U.S. decreased by about 16%.</p>
<p>Last year, Mercom reported that inverter costs <a href="https://www.mercomindia.com/inverter-suppliers-optimistic-chip-availability" target="_blank" rel="noopener">increased</a> by over 10% as manufacturers struggled to meet demand due to the limited availability of semiconductors, crucial components for inverter manufacturing.</p>


Microinverter Firm Enphase’s Q4 Profit Falls 65% on Slowing Demand


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					</table><p><a href="https://enphase.com/en-in" target="_blank" rel="noopener">Enphase Energy</a>, a microinverter-based solar and storage systems supplier, posted a 183% year-over-year (YoY) surge in profit at $147 million for the first quarter (Q1) of the financial year (FY) 2023, mainly driven by increased microinverter and battery shipments to new regions.</p>
<p>The company’s revenue grew by 65% YoY for the January-March quarter to $726 million. It began shipments to new regions, including France and Switzerland.</p>
<p>Enphase said that its global capacity has increased to around 6 million microinverters per quarter, enabling the company to improve the delivery timelines to European customers.</p>
<p>The microinverter shipments grew by 7% <a href="https://www.mercomindia.com/enphase-energy-revenue-q1-2022" target="_blank" rel="noopener">YoY</a> to 4,830,589 or approximately 1,957.2 MW in Q1, while the company shipped 102.4 MWh of Enphase IQ batteries.</p>
<p>President and CEO of Enphase Energy Badri Kothandaraman said, “IQ8 Microinverters constituted approximately 65% of all our microinverter shipments during the first quarter of 2023.”</p>
<p>“We recently started shipping IQ8 Microinverters, with peak output AC power of 384W, into France, the Netherlands, Spain, and Portugal to support newer high-powered solar panels. In addition to North America, Germany, and Belgium, we recently started shipping to customers in the Netherlands, France, Austria, and Switzerland. We expect to introduce IQ Batteries in more countries later in the year. Approximately 2,900 installers worldwide are certified to install our IQ Batteries,” the CEO said.</p>
<p>In the previous quarter, the company <a href="https://www.mercomindia.com/enphase-q4-profit-climbs-193-yoy-higher-shipments" target="_blank" rel="noopener">said</a> it planned to add manufacturing capacity in America to address the demand and build on the incentives related to the Inflation Reduction Act.</p>
<p>The company’s gross margin stood at 45% in Q1 compared to 41% in the same period a year ago.</p>
<p>In January this year, Enphase announced a partnership with Enerix, Germany’s leading network of specialist companies for decentralized energy systems, to expand Enphase product offerings to Enerix’s network of over 100 franchise partners across Germany and Austria.</p>
<p>In April, the company announced the launch of new IQ8 microinverters for high-powered solar panels in Spain and Portugal.</p>
<p>The company said the new IQ8 microinverters are designed to maximize energy production and manage a continuous DC of 14 amperes.</p>


Enphase Energy’s Q1 Profit Surges 183% to $147 Million on Higher Shipments


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					</table><p><a href="https://www4.enphase.com/en-in" target="_blank" rel="noopener">Enphase Energy</a>, a supplier of microinverter-based solar-plus-storage systems, reported a 193% YoY surge in profit at $153.8 million in the fourth quarter (Q4) of 2022.</p>
<p>The profit was fueled by higher shipments of microinverters and batteries in the United States.</p>
<p>During the October-December quarter, the company’s revenue jumped 76% YoY to $724.7 million.</p>
<p>The company shipped 4,874 microinverters, amounting to 1,937 MW in capacity, up 61% YoY. Enphase shipped 122.1 MWh batteries in the same period, up 22% YoY.</p>
<p>Enphase said it plans to add an additional manufacturing capacity in America to address the demand and build on the incentives related to the Inflation Reduction Act.</p>
<p>Enphase introduced IQ8 series of microinverters in France and the Netherlands in the fourth quarter, marking the company’s first expansion into international markets for the product since its successful launch in North America in late 2021.</p>
<p>The company began manufacturing Enphase-branded electric vehicle chargers at its production facility in Mexico, helping the firm increase capacity and reduce costs.</p>
<p>The company has approximately 2,300 installers worldwide certified to install IQ Batteries.</p>
<p>Puerto Rico, New Hampshire, Arizona, Colorado, Florida, Northern California, Oregon, North Carolina, Nevada, and Hawaii also witnessed increased deployments of Enphase’s systems.</p>
<p>In December 2022, Enphase and Pacific Gas and Electric Company announced the launch of a home battery energy storage program that would use Enphase’s batteries to support vulnerable, low-income customers during power outages.</p>
<p>In January 2023, Enphase announced installers of Enphase products in Brazil had seen a significant increase in deployments of residential solar energy systems powered by IQ7+ and IQ7AM microinverters.</p>
<p>Enphase Energy <a href="https://mercomindia.com/enphase-energys-revenue-jumps-q3-2022-strong-demand/" target="_blank" rel="noopener">posted</a> a YoY growth of 81% in revenue at $634.7 million for the third quarter.</p>
<p>The company’s revenue for the second quarter <a href="https://mercomindia.com/enphase-energy-revenue-surges/" target="_blank" rel="noopener">stood</a> at $530.2 million, a YoY increase of 66% from $316.05 million in Q2 2021.</p>


Enphase Energy’s Q4 Profit Climbs 193% YoY on Higher Shipments of Microinverters


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					</table><p>Microinverter-based solar-plus-storage systems company <a href="https://www4.enphase.com/en-in" target="_blank" rel="noopener">Enphase Energy</a> recorded revenue of $634.7 million in the third quarter (Q3) of 2022, a year-over-year (YoY) increase of 81% from $351.5 million.</p>
<p>The numbers marked an increase of 20% compared to $530.2 million in the previous quarter.</p>
<p>The growth in the quarterly revenue was driven by strong demand for Enphase Energy Systems, powered by IQ microinverters and IQ Batteries. IQ8 Microinverters constituted approximately 47% of all microinverter shipments during Q3. The company shipped 4,342,805 microinverters, or approximately 1,709 MW (DC), and 133.6 MWh of Enphase IQ Batteries.</p>
<p>The company shipped batteries to the United States, Germany, and Belgium during Q3 2022. It now has approximately 2,100 installers worldwide certified to install the IQ Batteries.</p>
<p>The company’s net income stood at $175.5 million, increasing by 108% compared to $84.2 million during the same period last year. The net income increased by 18% compared to $149.8 million during Q2 2022.</p>
<p>The company stated that the demand was strong worldwide, particularly in North America and Europe. Revenue from Europe increased by approximately 70% compared to Q2 2022 as countries in the region accelerated their efforts to address rising energy prices and reliance on fossil fuels.</p>
<p>Speaking on the results, Badri Kothandaraman, President and Chief Executive Officer of Enphase Energy, said, “Our U.S. and international revenue mix for Q3 2022 was 71% and 29%, respectively. We experienced strong growth in Q3, both in North America and Europe. In the U.S., our revenue increased 7% sequentially and 69% YoY. In Europe, our revenue increased approximately 70% sequentially and 136% YoY, led by strong demand for our microinverters in the Netherlands, France, Germany, Belgium, Spain, and Portugal, and for our IQ batteries in Germany and Belgium.”</p>
<p>The company’s non-GAAP operating expenses were $78.6 million in Q3 2022, an increase of 37% compared to $57.3 million during the corresponding period last year. The numbers were 10% higher than the $71.2 million reported in the last quarter. The increase was primarily due to increased investment in R&amp;D, customer service, and sales.</p>
<p>In March this year, the company <a href="https://mercomindia.com/funding-and-ma-roundup-enphase-solarleadfactory/" target="_blank" rel="noopener">acquired</a> California-based SolarLeadFactory. The financial terms of the transaction were not disclosed.</p>
<p>In August this year, Enphase Energy announced that ClipperCreek, a division of Enphase offering EV charging solutions, was expanding product deployments amidst rising consumer interest in electric vehicles and electrification.</p>
<p>Enphase Energy <a href="https://mercomindia.com/enphase-energy-revenue-surges/" target="_blank" rel="noopener">recorded</a> a revenue of $530.2 million in Q2 2022, an increase of 66% from $316.05 million in Q2 2021.</p>


Enphase Energy’s Revenue Jumps 81% to $635 Million in Q3 2022 on Strong Demand

<p>Solar microinverter supplier <a href="https://enphase.com/en-us" target="_blank" rel="noopener">Enphase Energy</a> and solar module manufacturer Waaree Energies Ltd. have announced their 4.5 MW solar project installation in Hosapet, Karnataka.</p>
<p>The project will be the largest Enphase microinverter-based solar installation in the world, according to the company.</p>
<p>The project will be spread across 18 acres and is expected to generate more than 7,500 MWh of solar power annually. The power will be sold to businesses in Karnataka through short and long-term power purchase agreements.</p>
<p>The project will be powered by 13,235 Enphase Energy microinverters and an equal number of solar modules.</p>
<p>Installing microinverters is beneficial because of their ability to increase energy harvest by working in low, diffused light or shaded conditions. They are more suited to India’s harsh, dusty environment.</p>
<p>Microinverters are more reliable as they have the advantage of single-point tracking, so the entire system is not affected by a single failure. In the case of a fault, it is easier to diagnose a problem. Despite these advantages, the adoption of microinverters in the Indian solar industry has been negligible.</p>
<p>The main reason for this is its high initial cost. In a price-sensitive market like India, higher costs per watt can easily deter developers and installers to look for cheaper options. Installations can also be costly because each inverter needs to be installed in tandem with each solar panel. Thus, many companies have started manufacturing built-in microinverters.</p>
<p>In September 2017, Enphase and Waaree <a href="https://mercomindia.com/enphase-energy-waaree-energies-join-forces-develop-ac-modules-india/" target="_blank" rel="noopener">announced</a> their partnership to develop AC solar modules for the Indian market.</p>
<p><a href="https://mercomindia.com/string-inverter-indian-solar-market/" target="_blank" rel="noopener">Mercom recently reported</a> that the choice of inverter type for EPC players and developers is no longer as simple as it used to be. A string inverter connected to a series of solar panels does not affect the performance of the entire system due to shading. It also provides greater flexibility in making design choices for the balance of system (BOS).</p>
<p>The market share for string inverters is still miniscule in comparison to central inverters, which earn approximately 90 percent of the market share. Mercom’s recently released <em><a href="https://mercomindia.com/product/mercoms-india-solar-market-share-report/" target="_blank" rel="noopener">India Solar Market Leaderboard 2018</a></em> report covers the top inverter suppliers for 2017.</p>
<p>Image credit: By Pacific Southwest Region from Sacramento, [<a href="https://creativecommons.org/licenses/by/2.0" target="_blank" rel="noopener">CC BY 2.0</a>], via Wikimedia Commons</p>


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