In 2021, India installed a record 10 gigawatt of solar capacity, registering a 212 percent year-on-year rise according to Mercom India Research (reported first by PTI).?
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In the firm¡¯s latest report, it revealed that in 2020, India saw 3.2GW of the solar capacity of installations. By the end of December 2021, the cumulative solar installed capacity was around 49GW.
As per the report, Solar accounted for 62 percent year-on-year growth. Rooftop installations saw a 138 percent year-on-year increase in 2021.?
When split across territories, Rajasthan, Karnataka and Andhra Pradesh were the top-three states for large scale solar capacity cumulatively, amounting for 50 percent of installations across the nation. Rajasthan led the capacity addition in 2021 at 4.5 percent.
According to Raj Prabhu, CEO of Mercom Capital Group, the demand outlook for 2022 looks strong, however with numerous challenges along the way including basic customs duty, import restrictions, GST (goods and services tax), along with the larger global supply chain issues, higher than usual component prices among others.?
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The report also highlighted that in 2021, the average project cost was higher due to higher module, raw material as well as freight charges.?
The report added that solar tenders dropped 4.3 percent year-on-year whereas auctions dropped 2.6 percent compared to 2020. The report states that the slowdown was caused due to delays in signing power-sale agreements as well as a lack of clarity in applicable duties.?
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