2020 recap in five charts

13 January 2021 |

2020 recap in five charts

We look at five charts summarising key developments in the renewable power sector in 2020.

Record-low solar tariff
Gujarat’s 500 MW solar auction led to a new record low tariff of INR 1.99/ kWh. The new record came on the heels of previous record of INR 2.00/ kWh discovered just one month earlier in SECI’s Rajasthan 1,070 MW solar auction. The lowest solar tariff has dipped by 54% over last five years and by 18% in the last year.

Figure 1: Solar tariffs in 2020, INR/ kWh                   

Source: BRIDGE TO INDIA research
Note: Auctions for solar-wind hybrid and other hybrid projects are excluded in this chart.

Mixed trend in tenders and auctions
A total of 19 tenders aggregating 32.8 GW capacity were issued in the year, down 20% over 2019. Capacity allocated increased to 27.3 GW, up 39% over previous year mainly due to the 12 GW capacity allocated under SECI’s mega manufacturing linked solar tender. However, up to 18 GW of this capacity remains uncontracted with DISCOMs.

Figure 2: Renewable tenders and auctions, MW

Source: BRIDGE TO INDIA research

Volatile module prices
Prices of solar modules fell as COVID-19 initially hit project construction but spiked up in the second half of 2020 due to supply chain disruptions in China and spurt in international demand.

Figure 3: Solar module prices, USD cents/ W

 

Source: BRIDGE TO INDIA research

Major swings in power demand and supply mix
Power demand was unsurprisingly subdued during the year. Total power generation reached 1,308 billion kWh, a 6% dip over 2019. But generation from renewable power sources, excluding large hydro, was up nearly 14% y-o-y thanks to the must-run status of the sector.

Figure 4: Power generation, billion kWh

Source: Central Electricity Authority

DISCOM dues to power generators rise even further
By November 2020, the latest available data, outstanding payments of DISCOMs had touched a record high of INR 1.3 trillion (USD 17.7 billion) as per the government’s PRAAPTI portal. The rise came despite disbursement of INR 300 billion (USD 4.1 billion) debt funding under the central government’s liquidity package to clear IPP dues.  

Figure 5: DISCOM payment dues, INR million

Source: PRAAPTI portal, Ministry of Power
Note: PRAAPTI portal data is incomplete as it relies on voluntary data submisison by IPPs. Actual outstanding payments are believed to be much higher as seen in the PFC’s report on performance of state power utilities.


Recent reports

India Solar Compass Q1 2021   

This report provides a detailed update of all sector trends and developments in the quarter –capacity addition, leading players, tender and policy a...

Buy Report Download Executive Summary

India Solar Rooftop Map | December 2020

India Solar Rooftop Map is an infographic report providing a snapshot of rooftop solar market in India - capacity addition across states and consumer ...

Download

India Solar Map | December 2020

India Solar Map 2020 is an infographic report that provides a state-wise break-up of utility scale solar commissioned and pipeline capacity. It also s...

Download

India Solar Compass Q4 2020   

Coronavirus-induced hardships persisted in Q4 2020, pulling installation numbers down. Solar capacity addition in 2020 was at a five-year low. 1,298 M...

Buy Report Download Executive Summary

Smart meters: market update and growth outlook   

With a target to reduce AT&C losses to 15% and improve overall financial performance of DISCOMs, the Indian government is pushing for universal ro...

Buy Report Download Executive Summary

India Solar Compass Q3 2020   

India added just 351 MW of solar power generation capacity in Q2 2020 taking total installed capacity to 38,377 MW by 30 June 2020....

Buy Report Download Executive Summary
Award winnig research
We use cookies to offer you an optimal user experience and collect information on website usage.