India’s installed solar capacity grows significantly

29 Mar , 2022

India added 3,316MW of new non-hydro renewable energy capacity from solar, wind, biomass and other renewables in the third quarter of fiscal 2021-2022, a 73% increase from 1,914MW in the same period last year. However, new non-hydro renewable energy capacity fell by 27% compared to the previous quarter due to intensified supply chain constraints.

 

Of this, solar added 3,072MW, accounting for 93% of the total new renewable capacity added during the quarter, driven in part by a 142% increase in rooftop solar installations to 700MW.

 

Research shows that rising raw material costs and supply chain constraints have led to an increase in the cost of solar PV modules. Although the price of PV modules has risen by 40% last year, reaching a peak of Rs 21/W at one point, new capacity is still showing an upward trend.

 

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