India: more than 3GW of new solar installations in Q3
India: more than 3GW of new solar installations in Q3
India added 3,316 megawatts of non-hydro renewable capacity from solar, wind, biomass and other renewable sources in the third quarter of fiscal 2021-2022, up 73% from 1,914 megawatts in the same period last year. However, new non-hydro renewable capacity fell 27 per cent from the previous quarter due to increased supply chain constraints.
Of that, solar added 3,072 megawatts, or 93% of total renewable capacity added during the quarter, in part because rooftop solar installations increased 142% to 700 megawatts.
According to the CEEW-CEF research paper, rising raw material costs and supply chain constraints are driving up the cost of solar photovoltaic modules. Although the price of photovoltaic modules rose 40% last year, peaking at Rs 21 /W, new capacity continues to increase.
GaganSidhu, director of ceew-cef, said the increase in new renewable energy capacity in the third quarter of fy22 is in line with the government's vision for sustainable growth in the coming years and the direction of development emphasizing the energy transition and climate action as key pillars of future economic development. While we have seen significant capital flows in recent months, more will be needed to support India's ambitious renewable energy targets. The proposed budget for issuing sovereign green bonds helps fill this gap, helps stimulate the development of the domestic corporate green bond market, and may act as a green development multiplier. (News from guangfu.bjx)
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