New Delhi, June 26 India added new solar capacity of 10.4 Giga Watt, GW in 2017-18 – first year to cross this landmark – total solar capacity comprising utility scale solar, rooftop solar and off-grid reached 24.4 GW as of March 2018, says a report covering the latest trends in Indian solar market.
According to a new report released recently by Bridge to India, a leading consulting and knowledge services provider in the Indian clean energy market, India’s utility scale solar capacity addition grew by over 70 per cent in 2017-18 to reach 21.3GW.
“India added new solar capacity of 10.4 GW in 2017-18 – first year to cross this landmark – total solar capacity comprising utility scale solar, rooftop solar and off-grid reached 24.4 GW as of March 2018”, report highlighted.
India installed 9.1 GW of utility scale solar capacity in FY 2017-18, plus 72 per cent over last year and more than all other sources combined; coal and wind added only 4.6 GW and 1.7 GW respectively in comparison.
The year was also notable for exponential growth in the open access market, where capacity addition grew by 1.7 GW, up 275 per cent over previous year.
Karnataka surpassed Telangana, Rajasthan, Andhra Pradesh and Tamil Nadu to become India’s top state for solar deployment; it added 4.1 GW of new solar capacity – 46 per cent of total capacity installed in 2017-18.
Adani, ReNew and Acme were the top three developers with total installed capacity of 2.3 GW during the year.
“Adani remained the largest solar developer with total installed capacity of 1,908 MW”, the report stated.
Canadian Solar (12.9 pc market share), JA Solar (11.4 pc) and Trina Solar (7.9 pc) were the top three module suppliers in the year.
Seven of the top 10 suppliers were from China with Tata Power the only Indian name on this list.
Domestic manufacturers’ combined market share was only 11.42 pc, the report stated.
Speaking on release of the report, Mr Vinay Rustagi, Managing Director, Bridge to India, said, “Indian solar market has grown spectacularly over last four years.
“we are still at only 24.4 GW, way short of the 100 GW target. It is not going to be easy as activity is expected to slow down in the current year before picking up again in 2019-20.While falling prices and government support have helped in boosted demand, supply side factors like land and transmission still remain a concern.” he added.
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