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Solar installations in India rise by 34% in Q1

PTI:  June 12, 2018

New Delhi: Solar installations in India increased by 34 per cent to 3,269 mw in the first quarter of 2018 compared with the fourth quarter of 2017, according to Mercom Communications.

"Q1 2018 was the best quarter on record for solar installations in India, with 3,269 MW, a 34 per cent increase compared to 2,448 MW installed in Q4 2017. Installations were also up when compared to the 2,991 MW installed in Q1 of 2017," Mercom Communications India said in a statement.

Mercom Communications India, a subsidiary of Mercom Capital Group, said that the surge in installations in first quarter of ongoing calendar year was primarily on account of completion of projects which were scheduled for commissioning the previous quarter, but had experienced delays due to grid connection issues.

This was the first quarter of over 3 GW installed in the Indian solar market and the fifth quarter in a row where at least 2 GW of solar installations, the statement said.

"Even though Q1 was a record quarter, solar procurement activity has been muted over the last few quarters. But with an anticipated decline in module prices, we expect to see tariffs decline and distribution companies ramp up procurement activity," CEO and Co-Founder of Mercom Capital Group Raj Prabhu said.

The cumulative solar installed capacity totalled 22.8 GW at the end of Q1 2018, the statement added.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.