Solar imports, exports rise 1,000% in Q2 of CY21
POWER & RENEWABLE ENERGY

Solar imports, exports rise 1,000% in Q2 of CY21

Quarter-over-quarter (QoQ), Indian solar imports rose by 194% in Q2 2021 against Rs 18.9 billion in Q1 2021 and solar exports surged by 151% to Rs 4.4 billion) year-over-year (YoY) in Q2 2021, against Rs 1.8 billion during the corresponding period last year.

Exports rose 113% compared to Rs 2.08 billion in Q1 2021.

Imports of solar cells and modules increased by a staggering 1,000% in the second quarter (Q2) of the calendar year (CY) 2021, totalling Rs 56.6 billion against Rs 5.25 billion during the corresponding period last year which was severely affected by Covid-19.

It is the first huge indication of market recovery and demand bounce back since Covid-19 shut down the markets at the end of March 2020. After the lockdown was declared on 25 March 2020, solar construction activity was stopped, and solar establishments were down to just 3.2 GW in the calendar year 2020.

Activity has picked up this year, and the lockdowns were more targeted and handled by states leading to a lot less disruption in construction and development activity.

Despite higher component prices and shortages, imports rose 346% in the first half (1H) of 2021 compared to the 1H 2020, while exports surged by 50% compared to the corresponding period last year. Compared to pre-pandemic activity in 2019, imports were slightly lower. Exports, on the other hand, were increased by 30%.

The impact of ALMM on imports is likely to show up in the second half of the year.

Image Source

Quarter-over-quarter (QoQ), Indian solar imports rose by 194% in Q2 2021 against Rs 18.9 billion in Q1 2021 and solar exports surged by 151% to Rs 4.4 billion) year-over-year (YoY) in Q2 2021, against Rs 1.8 billion during the corresponding period last year. Exports rose 113% compared to Rs 2.08 billion in Q1 2021. Imports of solar cells and modules increased by a staggering 1,000% in the second quarter (Q2) of the calendar year (CY) 2021, totalling Rs 56.6 billion against Rs 5.25 billion during the corresponding period last year which was severely affected by Covid-19. It is the first huge indication of market recovery and demand bounce back since Covid-19 shut down the markets at the end of March 2020. After the lockdown was declared on 25 March 2020, solar construction activity was stopped, and solar establishments were down to just 3.2 GW in the calendar year 2020. Activity has picked up this year, and the lockdowns were more targeted and handled by states leading to a lot less disruption in construction and development activity. Despite higher component prices and shortages, imports rose 346% in the first half (1H) of 2021 compared to the 1H 2020, while exports surged by 50% compared to the corresponding period last year. Compared to pre-pandemic activity in 2019, imports were slightly lower. Exports, on the other hand, were increased by 30%. The impact of ALMM on imports is likely to show up in the second half of the year. Image Source

Next Story
Infrastructure Transport

India’s Maha Kumbh of Road Construction

The RAHSTA Forum 2025, held on June 25 at Courtyard by Marriott, Mumbai, delivered powerful insights and dialogue on the future of India’s roads and highways sector. Organised by the FIRST Construction Council, the Forum served as the curtain-raiser to the much-anticipated RAHSTA Expo 2025, set to take place on 3rd and 4th September at the Jio Convention Centre, Mumbai.Union Minister of Roads Transport & Highways Shri Nitin Gadkari, while appreciating the efforts of FIRST Construction Council and ASAPP Info Global Group, commended the awards which recognise excellence across various..

Next Story
Real Estate

Built to Last, Designed to Impress

The construction and interior design industries stand at the confluence of functionality and aesthetics, where innovation powers the creation of enduring structures and inspiring spaces. At the heart of this process are materials and solutions that enable architects, designers, and builders to realise their visions with precision and reliability.Featuring iconic brands such as Fevicol—synonymous with adhesive solutions—Dr. Fixit, a complete waterproofing system renowned for addressing every critical area of construction, and Roff, a specialist in tile-fixing solutions, Pidilite has earned ..

Next Story
Infrastructure Energy

New Push to Cut India’s Air Pollution through Power Sector Reforms

In a significant stride toward environmental sustainability, Cummins India introduced CPCB IV+ compliant gensets to India on July 5, 2023, marking a paradigm shift in the power generation industry. These generators are engineered to adhere to the progressive emission norms set by the Ministry of Environment, Forest, and Climate Change. Being the first sets in the field, they have garnered praise for their remarkable achievements in emissions reduction and cutting-edge technology. Powerica, with its four-decade-long partnership with Cummins India Limited, is dedicated to consistently deliver th..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?