India RE Outlook 2019

The big event in 2019 is obviously the general elections. As policy purdah looms, politics is likely to dominate over reforms and concrete action for most of the year. But we don’t expect any retreat in push for RE irrespective of who comes to power. We expect a total RE capacity addition of 15,860 MW in 2019, a sharp jump of 50% over 2018. More than 69% of capacity addition is expected to come from utility scale solar projects.

Figure 1: Total RE capacity addition in 2019, MW

Source: BRIDGE TO INDIA research

Total domestic module manufacturing volume is expected to remain at about 3,000 MW. We should see greater adoption of new technologies such as mono-type modules, micro inverters, storage (finally expected to start rolling with likely announcement of a National Storage Mission).

Our estimate for utility scale solar EPC cost by year-end is INR 26/ Wp. Tariffs are likely to stay range bound within INR 2.50-3.00/ kWh depending on project location and offtake risk profile.


Recent reports

India Renewable Power CEO Survey | 2020

The survey provides a sector-wide glimpse into the minds of renewable power leaders on industry outlook, capacity addition over the next 5 years, oper...

Download

COVID-19: Impact on Global Solar Market

This report, produced with financial support from International Solar Alliance (ISA), examines operational and financial impact of the COVID-19 pandem...

Download

COVID-19: Impact on Indian Renewables

This report examines operational and financial impact of the COVID-19 pandemic on the Indian renewable power sector. It assesses delays in constructio...

Download

India Solar Compass Q1 2020   

Utility scale solar capacity addition in Q1 2020 was just 689 MW against our estimate of 1,864 MW...

Buy Report Download Executive Summary

India Solar Rooftop Map | December 2019

India’s operational rooftop solar capacity reached 5,440 MW as on 31 December 2019. Only 1,534 MW, 7% lower than last year, capacity is estimated to...

Download

India Solar Map | December 2019

India’s operational utility scale solar capacity reached 30,982 MW on 31 December 2019. Only 7,150 MW of new capacity was added during 2019, up a mo...

Download
We use cookies to offer you an optimal user experience and collect information on website usage.