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