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					</table>The solar industry added nearly 444 GW of new capacity in 2023, a 76% year-over-year (YoY) growth, taking advantage of the fall in prices of solar modules and ample supply of components, according to Bloomberg New Energy Finance’s (<a href="https://about.bnef.com/about/" target="_blank" rel="noopener">BNEF</a>) Global PV Market Outlook for the first quarter of 2024.
China alone added 216.9 GW in 2023, accounting for 60% of the global market. According to China’s National Energy Administration, the capacity addition in 2023 <a href="https://www.mercomindia.com/china-adds-217-gw-power-capacity-in-2023" target="_blank" rel="noopener">represented</a> a 148 % YoY increase from 87.4 GW.
The BNEF report said end-user markets are booming while manufacturers struggle to make profits.
2024 forecast
Installations are likely to top 520 GW in 2024, according to the BNEF forecast.
The global solar market is expected to grow by 29% YoY, with 37 markets likely to install more than 1 GW of solar modules in 2024.
<img loading="lazy" decoding="async" class="aligncenter size-full wp-image-64096" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/C3181D93-A00B-4A27-BD6A-10A8425710F7.png" alt="Global Solar Installations" width="787" height="504" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/C3181D93-A00B-4A27-BD6A-10A8425710F7.png 787w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/C3181D93-A00B-4A27-BD6A-10A8425710F7-300x192.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/C3181D93-A00B-4A27-BD6A-10A8425710F7-768x492.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/C3181D93-A00B-4A27-BD6A-10A8425710F7-650x415.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/C3181D93-A00B-4A27-BD6A-10A8425710F7-624x400.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/C3181D93-A00B-4A27-BD6A-10A8425710F7-600x384.png 600w" sizes="(max-width: 787px) 100vw, 787px" />The expected price of standard PV modules for most of 2024, especially in markets without trade barriers, is estimated to be $0.11/W.
The report said, “We only see about 574 GW(DC) of module build in 2024, mainly limited by local factors such as access to grid, land and labor.”
A sufficient supply of polysilicon has to be produced by major suppliers to make 1.1 TW solar modules in 2024. However, some polysilicon makers have already halted production because of low prices, and others are expected to follow suit. BNEF estimates that the module assembly capacity is enough to produce 738 GW of modules annually.
The report said governments continue to plan to support local manufacturers and build local solar industries. Still, the intense cost pressure will make companies wary of investing unless incentives are extremely generous. Many announced plans for factories in Europe, the U.S., and other countries will be canceled.
Mercom recently reported that prices of solar modules shipped from Asia to Europe have <a href="https://www.mercomindia.com/red-sea-shipping-crisis-hits-solar-modules" target="_blank" rel="noopener">jumped</a> as much as 20% as trade disruptions in the Red Sea, which carries 12% of the world’s seaborne trade, have spiked freight costs.

Global Solar Installations Likely to Top 520 GW in 2024: BNEF

There were two interesting small solar tenders one from a government agency and the other from an industry association that was issued this week. These tenders display a variety of buildings that are going solar in India.
The Kerala State Electricity Board Limited (KSEBL) has invited bids for an EPC contractor to construct a ground-mounted solar power project with an installed capacity of 250 kW. The project will be owned by Kerala University of Health Sciences (<a href="https://etenders.kerala.gov.in/nicgep/app?component=%24DirectLink_0&amp;page=FrontEndAdvancedSearchResult&amp;service=direct&amp;sp=SuDWuT8RUiHsHZJ1UXpnp5Q%3D%3D" target="_blank" rel="noopener noreferrer">KUHS</a>), Thrissur and will be developed in its premises.
The scope of the tender includes the design, erection, testing, and commissioning, along with the operation and maintenance of the project for the first five years.
The last date for bid submission has been set for May 24, 2019, with a pre-bid meeting slotted for May 17, 2019.
The tender document states that this contract on a composite supply basis and has a time frame of six months for the complete execution starting from the date of getting possession of the location.
In its pursuit of achieving the national target of 100 GW of solar capacity by 2022, the state of Kerala plans to develop 1,000 MW of solar projects under the SOURA program<a href="https://mercomindia.com/kerala-tenders-1-gw-solar-soura-program/" target="_blank" rel="noopener noreferrer">, as reported previously by Mercom</a>. The SOURA program is to be jointly implemented by Kerala State Electricity Board Limited (KSEBL) and Agency for Non-conventional Energy and Rural Technology (ANERT), the state nodal agency for renewable projects.
Recently, KSEBL had invited interested domestic bidders for the appointment of an EPC contractor for the design, erection, testing, and commissioning of grid-connected rooftop solar projects on buildings owned by the district panchayath of Thiruvananthapuram, as reported by <a href="https://mercomindia.com/kerala-floats-epc-tender-121-kw-rooftop-solar/" target="_blank" rel="noopener noreferrer">Mercom</a>. The total installed capacity of this turnkey project will be 121 kW, with the total project cost estimated to be ₹7.29 million ($0.1 million).
The tender also included O&amp;M services for the first five years from the date of commissioning of the project. The last date for bidding is May 24, 2019, and a pre-bid meeting will be held on May 17, 2019.
Another small solar rooftop tender for 100 kW has been floated by the South India Textile Research Association (<a href="http://www.sitra.org.in/" target="_blank" rel="noopener noreferrer">SITRA</a>) at its premises.
The work includes the design, supply, installation, commissioning, and maintenance of the rooftop solar PV system. The detailed tender document will be made available from May 29, 2019, and the last date for submission has been fixed on July 4, 2019.
Recently, Mercom <a href="https://mercomindia.com/serious-policy-push-indias-rooftop-solar-market/" target="_blank" rel="noopener noreferrer">analyzed</a> the growth and hurdles of the rooftop solar sector in India. The rooftop solar segment in India has been growing at a brisk pace, with cumulative installed capacity reaching 3,260 MW as of December 2018. Rooftop installations grew 66% (year-over-year) with capacity additions of 1,655 MW in 2018.

In Brief: Solar EPC Tender for 250 kW of Projects in Thrissur, SITRA’s 100 kW Rooftop Tender

The Kerala State Electricity Board Limited (KSEBL)  has invited interested domestic bidders for the appointment of an EPC contractor for the design, erection, testing, and commissioning of grid-connected rooftop solar projects on buildings owned by the district panchayath of Thiruvananthapuram.
The tender also includes operation and maintenance (O&amp;M) services for the first five years from the date of commissioning of the project.
The total installed capacity of this turnkey project will be 121 kW, with the total project cost estimated to be ₹7.29 million ($0.1 million).
The last date for bidding is May 24, 2019, and a pre-bid meeting will be held on May 17, 2019.
Joining other states in pursuit of achieving the national target of 100 GW of solar capacity by 2022, the state of Kerala plans to develop 1,000 MW of solar projects under the SOURA program<a href="https://mercomindia.com/kerala-tenders-1-gw-solar-soura-program/" target="_blank" rel="noopener noreferrer">, as reported previously by Mercom</a>. The SOURA program is to be jointly implemented by Kerala State Electricity Board Limited (KSEBL) and Agency for Non-conventional Energy and Rural Technology (ANERT), the state nodal agency for renewable projects.
Kerala’s budget for the financial year 2019-2020 also emphasizes setting up <a href="https://mercomindia.com/kerala-state-budget-2019-20-ev-rooftop-solar/" target="_blank" rel="noopener noreferrer">rooftop solar projects</a> in the state while also pushing for the development of the electric vehicle sector in the state.
In his speech, Kerala’s Minister of Finance, Thomas Isaac <a href="https://mercomindia.com/kerala-state-budget-2019-20-ev-rooftop-solar/" target="_blank" rel="noopener noreferrer">mentioned</a> that in Kerala, households have already registered for 200 MW of rooftop solar PV capacity. According to Isaac’s budget speech, “The entire power requirement of ‘New Kerala’ will be ensured. Around 130-150 crore units of electricity will be made available from 500 MW of rooftop solar PV projects and 500 MW of floating solar PV projects and terrestrial (utility-scale) solar projects.” Funds will be provided from Kerala Infrastructure Investment Fund Board (<a href="http://www.kiifb.kerala.gov.in/" target="_blank" rel="noopener noreferrer">KIIFB</a>) to install solar panels on the rooftop of government institutions like schools and hospitals, he had added. The Kerala government understands that in the future, Kerala’s energy dependency on other states is going to increase. Keeping this in mind, the government plans to provide ₹63,750 million (~$895.99 million) through the fund board to set up the required transmission system.
Similar to this tender issued by Kerala for its district panchayat’s buildings. <a href="https://mercomindia.com/haryana-solar-gram-panchayats/" target="_blank" rel="noopener noreferrer">Haryana government</a> has decided to install solar projects on its gram panchayat lands.
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Kerala Floats EPC Tender for 121 kW of Rooftop Solar Projects in Thiruvananthapuram

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