More than 3 GW solar projects held up due to rising module prices: Industry

The rising costs of solar panels and components like glass, wafers and silicones, which are mostly imported from China, have forced contractors to hold up more than 3,000 MW of ground-mounted and over 300 MW of rooftop projects, eventually leading to renegotiation of contracts.

Solar module prices have been trending high since mid-2020 and have risen around 17% year-to-date. At the beginning of the year, module prices hovered around Rs 18 per watt peak, and companies that bid aggressively expecting prices to fall are finding it difficult to keep their projects viable.