India adds 2,835 MW solar capacity in Q3, surged by 14%

India included 2,835 MW of solar capacity in the third quarter (Q3) of the calendar year (CY) 2021, surging by 14% as against 2,488 MW set up in Q2 2021.

The figures observed a tremendous 547% year-over-year (YoY) surge.

As per the report, in 9M 2021, India increased more than 7.4 GW of solar capacity, a surge of 335% as against 1.73 GW in 9M last year.

The cumulative set up capacity at the end of Q3 2021 reached 46.6 GW.

The figures received greater importance as installations increased despite several market challenges. Ongoing projects have been loaded by the increase in raw material costs and a sudden increase in freight charges in recent months.

Solar module costs have been spiraling for quite some time. As per the report, module costs have grown for the sixth consecutive quarter.

The quarter additionally witnessed the greatest QoQ increase in large-scale system prices by more than 10%, attributed to the surge in raw material and component costs.

Rajasthan remained the top state for the third consecutive quarter by adding 63% of the total large-scale solar installations in the nation. As of September 2021, the leading 10 states estimated approximately 96% of the nation's cumulative large-scale solar establishments.

According to the report, India added about 11.6 GW of power capacity in 9M 2021. Solar dominated capacity additions, estimated at 60%, followed by thermal power, which added 21%. Renewable energy (including large hydro) made up 79% of total power capacity additions in 9M 2021.

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Also read: India adds 2,488 MW solar capacity in Q2, rising 19% QoQ over Q1

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