Commercial and industrial (C&I) solar clients installed just 332 MW of solar generation capacity in the April-to-June window, to post a 34% retreat from the 501 MW added by businesses in the first three months of the year.
The second quarter figure comprised 127 MW of ‘open-access’, off-site solar projects and 205 MW of rooftop panels, according to India Corporate Renewable Brief compiled for the second quarter by analyst Bridge To India.
The latest installation data indicates India’s cumulative C&I solar capacity reached 10,817 MW by June 30. That figure is split between 4,595 MW of open-access solar and 6,222 MW of rooftop arrays.
The Bridge to India report cited lockdowns in multiple states as the main reason for the reduced installation level in the second quarter and the analyst has predicted more activity in the last quarter and the current three-month window, due to the easing of Covid-19 restrictions.
According to the report, the price for mono-PERC modules rose to $0.255/W (INR18.93) in the second quarter, 4% higher than in the January-to-March period. The total engineering, procurement and construction cost for C&I solar rose 3%, according to the analyst, to INR32.69/W for open access arrays and INR39/W for rooftop systems.
Bridge to India expects costs to have fallen 8-10% last quarter, thanks to the expiry of a 14.5% safeguarding duty imposed on solar imports which came to an end on July 30. However, the analyst pointed out, solar developers face a huge challenge in securing supply as Chinese manufacturers appear reluctant to book fresh orders.
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