The India solar market was witness to addition of 8,263 MW during 2018, down 15.5 per cent compared to 9,782 MW in 2017. This was mainly due to the safeguard duty, goods and services tax (GST) issues, and land and transmission issues which took a toll on the large-scale installations, according to Mercom India Research’s Q4 and Annual 2018 India Solar Market Update.
Total power capacity additions in India were 16.3 GW in 2018 from all generation sources. Of this, renewable energy sources accounted for nearly 70 per cent of installations, with solar representing 50.7 percent of new capacity and wind with 14 per cent. Coal accounted for 27.5 per cent of new capacity added.
“For the first time in India’s history, solar made up over 50 per cent of new power capacity in 2018. We will continue to see a steady shift toward solar as prices continue to drop. This is going to be the new normal as coal plants continue to shutter,” said Raj Prabhu, Chief Executive Officer (CEO) and co-founder of Mercom Capital Group. Read More
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