India witnessed a exceptional surge in its open entry photo voltaic capability in the course of the yr 2023, including a record-breaking 3.2 gigawatt (GW) in the course of the interval underneath overview. This marked a 6.66 per cent enhance, attributed to numerous components similar to lowered module price, a modern research by Mercom Capital revealed.
The research discovered that the open-access photo voltaic capability addition in 2022 was at 3 GW, reported PTI. As of December 2023, the cumulative put in photo voltaic capability within the open entry section reached 12.2 GW, as outlined within the ‘Mercom India Photo voltaic Open Entry Market Report’, performed by the US-based analysis agency, reported PTI. Photo voltaic vitality by means of open entry is a system the place an influence producer installs solar energy crops to offer inexperienced vitality on to all shoppers. This marks the highest-ever addition of open-access photo voltaic capability in a single calendar yr.
Open-Entry Photo voltaic Depicts Beacon Of Hope: Raj Prabhu
Raj Prabhu, CEO of Mercom Capital Group acknowledged that open-access photo voltaic represents a beacon of hope in India’s photo voltaic market, attractive business enterprises and industrial models to transition in direction of photo voltaic and different sustainable vitality sources. “The potential price financial savings for companies are onerous to disregard, particularly as photo voltaic prices proceed to lower whereas retail electrical energy costs rise. With a robust pipeline, the outlook could be very promising for this market section, and we anticipate robust progress in 2024,” he famous.
Karnataka continued to stay in its high place for cumulative installations, contributing to 33.1 per cent of the nation’s whole installations, adopted by Maharashtra accounting for 13.5 per cent and Tamil Nadu with 11.4 per cent. As of the top of 2023, India boasted 13.9 GW of tasks underneath improvement and within the pre-construction part.
