Mercom

Analysts at Mercom Capital Group have tallied up corporate funding, venture capital and debt and public market investment for battery storage, smart grids and energy efficiency companies. From a financial perspective, the industry appears resilient to the Covid-19 crisis and ready to grow further.

New large-scale solar installations totaled 120 MW compared to 896 MW in the first quarter of year 2020. Rooftop solar addition fell to 85 MW from 194 MW installed in the previous quarter.

Mercom India Research has said the quarterly value of solar cell and module imports was down 83% in the second quarter of the year, compared to the same period of 2019, to sit 54% lower than the value recorded in the January-to-March window.

ACME Solar installed the largest utility-scale solar capacity in 2018. It also had the largest project pipeline at the end of 2018, closely followed by SB Energy and Azure Power. While modules from China’s ZnShine were used the most, the imposition of the safeguard duty helped domestic manufacturers to capture a larger share of the market compared to 2017, according to clean energy consulting firm Mercom Communications.

Mercom Capital’s latest report on financial activity in the solar sector illustrates an increasing flow of capital towards downstream companies and PV projects – as well as a split between China and the rest of the world.

According to Mercom India, the Indian solar PV industry has recorded its strongest quarter since the launch of the National Solar Mission. In addition to declining module prices, both rooftop and utility-scale installations saw strong growth. Clarity is needed, however, on the ongoing safeguard duty saga, to drive the industry forward.