India's Solar Capacity Installations Witness Steep Decline of 48% in Q1 2023

According to a report by Mercom India Research titled 'Q1 2023 India Solar Market Update,' the solar capacity addition in India experienced a significant decline of 48 percent year-on-year, reaching 1.9 gigawatts (GW) during the January-March period of 2023.

In comparison, the country added 3.6 GW of solar capacity during the same period in 2022. On a quarter-on-quarter basis, the installations decreased by 30 percent compared to the 2.7 GW installed in the previous quarter of 2022.

Out of the 1.9 GW added in the first quarter of 2023, 74 percent comprised large-scale solar projects, while rooftop solar accounted for the remaining 26 percent.

Currently, India's cumulative installed solar capacity stands at 64.5 GW. As of March 2023, the utility-scale project development pipeline in the country was at 58 GW, with an additional 58 GW of projects tendered and awaiting auction.

In 2022, India's solar industry achieved a significant milestone by adding a record 13 GW of capacity. However, the report suggests that the additions in 2023 are expected to be lower due to project commissioning deadlines being moved to the following year and delays caused by land and transmission issues.