Loading...

India PV Module Intelligence Brief | Q3 2023


29 November 2023 | BRIDGE TO INDIA

India PV Module Intelligence Brief | Q3 2023

This report captures quarterly trends in module demand and supply, import and domestic production volumes, supplier market shares, break-up by technology and rating, global market scenario, pricing trends across the value chain, key policy developments and market outlook.

Figure: Domestic module availability, Q3 2023

Source: BRIDGE TO INDIA research
Note: Module shipments for domestic manufacturers are shown net of exports.

Based on project commissioning status, we estimate total module demand in the quarter at 2,008 MWp, split 23:27:42:8 between utility scale, open access, rooftop and off-grid solar respectively.

Key trends from the quarter:

  1. Prices near record lows across the value chain
  2. Rising share of imports due to ALMM waiver
  3. Project commissioning being postponed to take advantage of falling module prices
  4. Sharp increase in module shipments including 10% QOQ increase in domestic module production
  5. Worsening supply glut in China – 64% YOY increase in module production in 9M 2023 coupled with weak international demand

Recent reports

India Solar Compass | Q1 2024

India Solar Compass | Q1 2024

This report provides a detailed update of all key sector developments and trends in the quarter – capacity addition, leading players, tenders and policy announcements, equipment prices, financial deals and other market developments. It also provides market outlook for the next two quarters.

India PV Module Intelligence Brief | Q1 2024

India PV Module Intelligence Brief | Q1 2024

This report encapsulates quarterly trends in module demand and supply, import and domestic production volumes, supplier market share, break-up by technology and rating, global market scenario, pricing across the value chain, key policy developments and market outlook.

India Corporate Renewable Brief | Q1 2024

India Corporate Renewable Brief | Q1 2024

This report provides an update on key trends and developments in the corporate renewable market including capacity addition, key players, policy & regulatory issuance, financing, PPA tariffs and other market trends.

Corporate renewable market -alternative procurement options

Corporate renewable market -alternative procurement options

Corporate consumers seeking to increase share of renewable power in their consumption mix have the option of using multiple short-term procurement routes like green power exchange, renewable energy certificates (RECs), I-RECs and green tariffs.

India Solar Rooftop Map | December 2023

India Solar Rooftop Map | December 2023

India Solar Rooftop Map is an info-graphic report providing a snapshot of rooftop solar market in India – capacity addition across states and consumer segments, market share of leading players and other key trends. Total rooftop solar capacity is estimated to have reached 14,484 MW by end of 2023. Total new installations in 2023 are estimated at 2,856 MW, up only 8% over previous year.

India Solar Map | December 2023

India Solar Map | December 2023

India Solar Map 2023 is an info-graphic report covering growth of utility scale solar sector – national and state-wise commissioned and pipeline capacity, leading market players and portfolio details of top 16 project developers. Capacity addition in 2023 fell 51% YOY to 5,924 MW taking total utility scale solar capacity to 59,840 MW. Total project pipeline stands at a record 74,161 MW.

To top