The cost of solar power generation in India has fallen to half the level seen in many other markets in the region due to extensive solar resource, market scale and competition.
With India losing major solar markets to stiffer competition from cheaper products, it’s high time to change the game by playing on quality and innovation—according to Vikram Solar Chief Financial Officer Rajendra Kumar Parakh, who spoke to pv magazine on the challenge of shrinking markets before Indian solar manufacturers.
A flying start to the year saw huge volumes of solar cells and modules imported to India but the scale and value of such products fell over the remainder of 2018 and export figures mirrored that trend.
Despite political hurdles in key markets including China and Japan, Asia remains highly active. This year, 59 GW of solar is expected to be installed and due to further system price declines, a phase-out of subsidy schemes can be offset.
Taiwan has joined Malaysia in requesting consultations with India under the safeguard agreement of the World Trade Organization (WTO), following India’s decision to impose 25% safeguard duties on imports of solar cells, whether or not assembled in modules.
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