India has added 1,080 megawatts (MW) of solar in the first quarter (Q1) of 2020, a 43 per cent decline compared to 1,897 MW installed in Q4 2019, according to a report by Mercom India Research.
Solar installations were down by 39 per cent year-over-year (YoY) compared to 1,761 MW added in Q1 2019. Solar capacity additions in India in Q1 2020 were the lowest in a quarter since Q4 2016. In Q1 2020, large-scale solar projects totalled 886 MW, and rooftop solar installations added up to 194 MW.
“The lockdown in the country disrupted the supply chain, lowered power demand, resulted in currency fluctuations making component costs unpredictable, and has exacerbated the liquidity issues. We are cutting our solar demand forecast by about 40 per cent from our previous estimates based on the Covid-19 effect on the market,” said Raj Prabhu, Chief Executive Officer of Mercom Capital Group.
