Mercom Research revises annual solar installation forecast, down to 7.3 GW for 2019

Solar installations in the country increased by 44 per cent in Q3 2019, reaching 2,170 MW (2.2GW), compared to 1,510 MW in Q2 2019.

Installations were up by 36 per cent year-over-year (YoY) compared to 1,592 MW in Q3 2018.

However, solar installations in the first nine months (9M) of 2019 reached 5.4 gigawatts (GW), a decline of 19 per cent, compared to 6.7 GW of capacity added in 9M of 2018, according to the newly released Q3 2019 India Solar Market Update by Mercom India Research.

In Q3 2019, large-scale installations totalled 1,925 MW compared to 1,218 MW in Q2 2019 and 1,157 MW in Q3 2018. The large-scale solar project development pipeline for the country has increased to 22.6 GW. About 37 GW of solar have been tendered and were pending to auction at the end of the quarter.