NEW DELHI: India added a file 3.2 gigawatt of open entry photo voltaic capability throughout 2023, posting a 6.66 per cent rise supported by components, together with diminished module value, in accordance with a report. In its newest report, US-based analysis agency Mercom Capital stated the open entry photo voltaic capability addition was 3 gigawatt (GW) throughout 2022.
Solar energy via open entry is an association the place an influence producer establishes a solar energy plant to provide inexperienced vitality to customers.
It’s the file excessive open entry photo voltaic capability addition in a calendar yr. The cumulative put in photo voltaic capability within the open entry phase stood at 12.2 GW as of December 2023, the ‘Mercom India Photo voltaic Open Entry Market Report’ stated.
Open entry photo voltaic is likely one of the vivid spots within the nation’s photo voltaic market, attracting business enterprises and industrial models to shift in the direction of photo voltaic and different clear vitality sources, Raj Prabhu, CEO of Mercom Capital Group, stated.
“The potential value financial savings for companies are exhausting 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 phase, and we anticipate robust progress in 2024,” he stated.
Karnataka remained the highest state for cumulative installations, accounting for 33.1 per cent of the nation’s installations, adopted by Maharashtra (13.5 per cent) and Tamil Nadu (11.4 per cent).
India had 13.9 GW of initiatives underneath growth and within the pre-construction section on the finish of 2023.
Mercom Capital specialises in offering market intelligence on vitality storage, good grid expertise and photo voltaic vitality, along with providing advisory providers on rising markets and strategic decision-making.
Solar energy via open entry is an association the place an influence producer establishes a solar energy plant to provide inexperienced vitality to customers.
It’s the file excessive open entry photo voltaic capability addition in a calendar yr. The cumulative put in photo voltaic capability within the open entry phase stood at 12.2 GW as of December 2023, the ‘Mercom India Photo voltaic Open Entry Market Report’ stated.
Open entry photo voltaic is likely one of the vivid spots within the nation’s photo voltaic market, attracting business enterprises and industrial models to shift in the direction of photo voltaic and different clear vitality sources, Raj Prabhu, CEO of Mercom Capital Group, stated.
“The potential value financial savings for companies are exhausting 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 phase, and we anticipate robust progress in 2024,” he stated.
Karnataka remained the highest state for cumulative installations, accounting for 33.1 per cent of the nation’s installations, adopted by Maharashtra (13.5 per cent) and Tamil Nadu (11.4 per cent).
India had 13.9 GW of initiatives underneath growth and within the pre-construction section on the finish of 2023.
Mercom Capital specialises in offering market intelligence on vitality storage, good grid expertise and photo voltaic vitality, along with providing advisory providers on rising markets and strategic decision-making.
