BTI: India Installed 2.11 GW Solar In Q2/2021

India Installed 2.11 GW New Solar Capacity During Q2/2021, Says Bridge To India; Expects 2.13 GW & 2.45 GW Addition In Q3/2021 & Q4/2021

BTI: India Installed 2.11 GW Solar In Q2/2021

India’s cumulative solar power capacity at the end of Q2/2021 reached 46.13 GW, according to BTI’s new report, while the total allocated utility scale solar project pipeline swelled to 52.814 GW. (Source: Bridge to India)

  • BTI says India installed 2.11 GW of new PV capacity in Q2/2021, comprising 1.785 GW of utility scale solar
  • Rise in module and BOS costs increased prices for mono-PERC modules to $0.0255 per W, while that of utility scale projects to INR 32.69 ($0.44) per W
  • In Q3/2021 and Q4/2021, it expects the country to install 2.13 GW and 2.45 GW, respectively

There wasn’t much change in the new capacity additions for solar PV in India during Q2/2021 on a quarterly basis according to Bridge to India (BTI). The country added up to 2.11 GW. In Q1/2021, the market intelligence firm said that quarterly installations had grown to 2.105 GW (see BTI: India Installed 2.1 GW New Solar During Q1/2021). That means India installed 4.2 GW in H1/2021.

As always, utility scale solar led the deployments that were divided between 1.785 GW of utility, 205 MW rooftop PV, and 120 MW off-grid solar. Altogether, the cumulative commissioned PV capacity of the country till the end of Q2/2021, according to BTI’s India Solar Compass Q2 2021, stood at 46.13 GW, divided as 37.5 GW utility, 7.367 GW rooftop and 1.26 GW off-grid solar.

There was a dip in tender issuance during the reporting quarter on QoQ basis by 25% as 8.062 GW utility scale tenders were launched, along with 94 MW of rooftop solar. Auctioned capacity was only 625 MW, with ‘heavy’ participation by public sector enterprises SJVN and REC-PDC.

As per the analysts, the total utility scale solar project pipeline of India, allocated to developers at various stages of development stands at 52.814 GW.

Price rise in the global solar PV supply chain due to reduced availability of raw materials and logistical challenges did not leave India unaffected.  The report notes module and BOS costs increased prices for mono-PERC modules to $0.0255 per W, while that of utility scale projects increased to INR 32.69 ($0.44) per W.

Pointing towards the Interstate Transmission System (ISTS) charges waive off period for another 2 years, BTI believes it would ‘worsen execution challenges’ in Rajasthan and Gujarat where there is an increasing concentration of projects (see India: ISTS Connection Charges Waived Off Till H1/2025).

As the fears of a 3rd wave of COVID-19 pandemic arise, BTI analysts expect Q3/2021 and Q4/2021 PV additions to add up to 2.13 GW and 2.45 GW, respectively, saying they anticipate ‘robust’ project construction activity, ‘notwithstanding fears of 3rd wave of the pandemic’.

The report can be purchased at BTI’s website.

About The Author

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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