India's Photovoltaic Market Shrank 52 Percent In The Second Quarter Of 2018

- Sep 07, 2018-

India added 1,599 megawatts of photovoltaic capacity in the second quarter of 2018, down 52% from the first quarter of this year (3,344 megawatts) and 21% from the same period last year (2,025 megawatts), according to data compiled by Mercom India Research, a consultancy.This is the first drop in India's pv market after four consecutive quarters of growth, mainly due to uncertainty over import taxes on pv products, coupled with pressure to renegotiate prices for existing pv projects after several record low pv bids.


By the end of June 2018, a total of 24.6 gigawatts of pv were installed in India, of which 90% was large ground pv and 10% was rooftop pv.Mercom India Research expects India's annual capacity to reach 8.3 gigawatts in 2018, and annual capacity in 2019 will be lower than in 2018.