BRIDGE TO INDIA has released their latest report – “India Solar Compass” – a quarterly update on the Indian solar market. As per the report, Q2 2017 was a landmark period in the Indian solar sector with tariffs falling below the critical threshold of INR 3.00/ kWh making solar power the cheapest new source of power in India.
The report highlights that India’s total installed solar power capacity reached 15,611 MW (13,951 MW utility scale and 1,660 MW rooftop solar) on June 30, 2017. After a bumper Q1 2017 (end of FY17) when India added 3,120 MW of utility scale solar capacity, pace in Q2 2017 was relatively slow at 1,437 MW against a scheduled capacity addition of 3,300 MW. Highest capacity addition as well as slippage was from the 2,000 MW allocation in Telangana. Around 1,680 MW was due to be commissioned in Q2 but only 640 MW came online because of delays arising from land and transmission related issues.
Speaking on launch of the report, Vinay Rustagi, Managing Director, BRIDGE TO INDIA, said, “Indian solar sector continues to grow rapidly with capacity addition in 2017 expected to go up y-o-y by 90%. Rooftop solar is also showing robust growth as solar power becomes increasingly more attractive with falling costs.”
As per the report, the expected new utility scale capacity addition in Q3 and Q4 2017 will be 1,565 MW and 2,265 MW respectively. The expectation for total rooftop solar capacity for 2017 is 1,056 MW taking total 2017 capacity addition estimate to 9,443 MW.