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Solar Rooftop Market in India Outlook Update Q1 2020

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Report Summary In Q1 CY 2019 the solar installations stood at 263 MW, in CY 2020 it is expected that the installations shall be somewhere in the same quantum or less amid COVID outbreak  

Solar Rooftop Market in India Outlook Update Q1 2020

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    COVID 2019 Outbreak to tumble the pace of Solar Rooftop capacity addition in Q1 2020

    In FY 2020, the capacity additions pace for renewable sector in the country was low as compared to erstwhile year-on-year capacities being added from CY 2014. This slowdown was also witnessed in solar rooftop sector with only 297 MW of installation in FY 2020 (From April, 2019 to December, 2019) as compared to 697 MW in FY 2019. Multiple factors were responsible for the slow capacity addition pace with the foremost being the limited availability of funds, policy & regulatory hindrances, and non-uniform grid assimilation. Also, being the election year the Government push was missing and therefore the capacities are expected to register a fillip in near future. However, the outbreak of Coronavirus has hit the global supply chain. PV modules, cells, accessories such as wires, cables and solar inverters are imported from China. These constitute 80% of India’s solar sector imports. This for sure will tumble the expected capacity addition in coming Quarter and therefore, solar rooftop capacity addition will have a reduced pace at least for first two quarters in CY 2020.

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