India to add 10GW of PV capacity in 2021

India to add 10GW of PV capacity in 2021

 India has recorded the highest annual increase in solar power capacity in 2021, despite the continued rise in module costs. India added 10GW of solar capacity in 2021, a 210% increase from 3.2GW in 2020, according to a new report by Melcom India Research.

     Large-scale solar projects accounted for 83% of all PV installations, up 230% year-on-year. Mercom India Research said rooftop solar accounted for the remaining 17%.

     Due to the epidemic, a considerable number of projects have been postponed to 2021, increasing the total installed capacity in 2021. As of the end of December 2021, India's cumulative installed PV capacity reached about 49 GW.

     The report noted that average project costs in 2021 will rise due to higher component costs, raw material prices and shipping costs. The average cost of large projects rose 21.6% year over year in the fourth quarter, the highest increase in the past 10 years. Average Rooftop Solar Costs Up 14.8% YoY in Q4

Source: Sobey Consulting