INDIAN SOLAR INDUSTRY AT A GLANCE IN 2020 - 2021
The solar energy capacity in India was over 39,000 megawatts in 2020, an increase from a capacity of over 35,000 megawatts in 2019. Solar installations in the calendar year (CY) 2020 totaled 3.2 GW, a 56% decline compared to 7.3 GW of capacity added in 2019.
The Covid-19 outbreak brought the solar industry to a standstill, disrupting the supply chain globally. All solar manufacturing and project development came to a grinding halt resulting in a slowdown across the sector.
The cumulative installed solar capacity in India was 38.9 GW at the end of Q4 2020, with the large-scale projects accounting for 87% (33.8 GW). Large-scale solar installations in 2020 accounted for 78% of the additions at 2.5 GW. However, of the total new power capacity added in India in 2020, 48% was from solar. India seems to be a progressive market for the solar industry.
According to the report, the top ten large-scale project developers accounted for 69% of the installations in 2020. Adani was the top utility-scale developer in 2020, followed by Azure Power.
India is targeting 280 gigawatts (GW) of solar power by 2030. To achieve this goal, it will have to install about 25 GW of capacity every year.
Industry ImportsAccording to industry data, in 2020, India imported solar wafers, cells, modules and inverters worth $ 2.5 billion.
