“Solar module prices are likely to remain subdued in the near term”
Vikram V, vice president & co-group head-corporate ratings, ICRA Ltd, speaks to pv magazine about falling solar cell and module prices, its impact on the Indian pv manufacturers, and way forward.
India’s installed solar power capacity expected to hit 104 GW by March 2025
ICRA expects India’s installed solar power capacity to grow to 104 GW by March 2025 from 72 GW as of October 2023, led by strong policy support and moderation in solar module prices.
Share of green power for cement companies expected to increase to 42% by FY2025: ICRA
Around 25% replacement of thermal power consumption by green power could yield 15-18% savings in power cost and 140-160 bps improvement in operating margins for cement companies
India to emerge as global renewable energy powerhouse, says power minister
The nation is also set to emerge as one of the largest solar module manufacturers. It has considerable existing solar manufacturing capacity and is constructing even larger capacities, including polysilicon.
India’s solar PV module exports surge 364% YoY
India exported solar PV cells and modules worth INR 8,440 crore in FY 2022-23. USA was the top destination with a 97% share.
Solar module prices, auction volumes, and the outlook for capacity addition
Timely scale-up in tendering activity and moderation in solar PV cell and module prices, if sustained, would support improvement in capacity addition in the renewable energy sector.
India to add 20 GW of renewable energy capacity in FY2024, says ICRA
ICRA expects India to add 16 GW of solar power generation capacity, 2 GW of wind and another 2 GW from hybrid projects in FY2023-24.
Strong policy focus needed to drive pumped storage development
Despite being a mature and largely indigenous technology, pumped storage hydropower’s operational capacity in India remains very low at 3.3 GW because of the high development costs and inherent challenges in constructing these schemes.
India will require INR 9 trillion capex to meet 2030 green hydrogen target
A new report says India will require INR 5.5-6 trillion to create 115-125 GW of renewable energy capacity and INR 3-3.5 trillion to meet 35-40 GW of electrolyzers requirement in order to reach green hydrogen production capacity of 5 MMT per annum by 2030.
Relaxation of ALMM order a near-term positive for solar power developers, says ICRA
The Ministry of New & Renewable Energy has exempted solar projects to be commissioned till March 31, 2024, from the requirement to source modules from the Approved Models and Manufacturers (ALMM) list. The move provides developers with the flexibility to source modules at the most cost-competitive rates.
