In 2018, investments in the Indian solar sector totaled approximately $9.8 billion compared to 2017, in which almost $11.5 billion flowed into the Indian solar sector. 2018 witnessed a decline of 15% in investments year-over-year (YoY). These findings were revealed in Mercom India’s recently released 2018 Q4 and Annual India Solar Market Update.
Even though downstream investments fell YoY due to a decrease in solar installations and decline in system costs; the total investment reached almost $10 billion as the upstream activity increased due to investments in new manufacturing facilities.
2018 was a challenging year for the Indian solar market with GST rate issues, the imposition of safeguard duty on solar cells and modules from China and Malaysia, and the cancellation of more than 4 GW of auctions by government agencies citing high tariffs Read More