Bridge to India’s latest report, India Solar Compass Q3 2020, has stated that India added just 853 MW of solar power generation capacity in the third quarter (July-September) of the year 2020.
With this, India has installed a cumulative solar capacity of 40,295 MW as of September 30, including 33,160 MW utility-scale, 6,130 MW rooftop and 1005 MW off-grid.
Though the capacity addition in Q3 2020 was up 143% QOQ, it was signiﬁcantly below the BTI estimate of 1,621 MW for the quarter due to Covid-related execution issues.
Module prices shot up during the quarter due to supply-side constraints coupled with increasing global demand. According to BTI analysts, this, coupled with safeguard duty extension and Covid-related operational issues, hurt the construction progress.
The BTI report said multi-crystalline module prices increased to US cents 18/W, up from US cents 16.5/W in June 2020. Prices for mono-PERC modules also rose to US cents 21/W from US cents 17.5/W just three months ago.
The report expects project construction activity to pick up gradually with 3.9 GW capacity scheduled to be added in the next six months.
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