page_banner

The Indian solar market is booming, and the annual photovoltaic capacity is expected to reach 12GW

The Indian solar market is booming, and the annual photovoltaic capacity is expected to reach 12GW

From January to September 2021, India’s imports of solar cells and modules increased by 448%, reaching US$1.97 billion. In the same period last year, India imported solar cells and modules worth US$359.9 million.

From January to September, the country’s exports of solar cells and modules were US$110.25 million, an increase of 45% from US$76.13 million in the same period last year.

In the third quarter of 2021, India’s solar imports were US$953 million, an increase of 580% compared to US$140 million in the same period last year. Compared with the US$762 million in the previous quarter, this represents an increase of approximately 25% from the previous quarter.

In the third quarter of 2021, solar exports increased by 25% to US$21.2 million from US$16.9 million in the third quarter of 2020. However, this was a 65% decrease from the US$60.6 million in the second quarter.

If calculated at the price of 0.3 US dollars per watt, India’s Q3 module imports will reach 3.2GW. Excluding the fact that the actual price is slightly lower, and some factors such as batteries, India’s Q3 imported components will not be less than 3GW, an increase of 580% compared with the 140 million US dollars in the same period last year, and 762 million in the previous quarter. Compared with the US dollar, Q3 imports increased by about 25% month-on-month.

In the first nine months of 2021, India’s total imports of solar cells and modules reached US$1.97 billion, an increase of 448% from US$359.9 million in the same period last year.

In the first three quarters of 2021, India’s solar exports were 112.5 million U.S. dollars, an increase of 45% compared to 76.13 million U.S. dollars in the same period last year. However, relative to the amount of imports, exports are basically negligible, and batteries and modules are basically used. To meet the domestic installed demand in India. And Q3′s export value dropped by 65% ​​compared to the second quarter, and more components were used in the domestic installed market.

According to statistics from “Global Photovoltaics”, India’s installed capacity in Q3 reached 4.303GW. In the first nine months of 2021, 8,811 MW of installed solar power was added, an increase of approximately 280% over the same period last year, a record high.

Calculated according to Q3′s import volume, India’s new installed capacity in 2021 will inevitably exceed 10GW, and is expected to reach 12GW. The previous peak in 2018 did not exceed 10GW.

Not surprisingly, India will become the world’s third largest new photovoltaic installation region this year, just behind China and the United States, and will be far ahead of other regions such as Europe and Australia.

The Indian market is worth looking forward to and deploying.


Post time: Nov-27-2021