Google-The average cost of large-scale solar projects in India fell by 28.2% YoY in Q1 2024, with consecutive drops over five quarters, driven mainly by declining module prices.
-India added over 10 GW of solar capacity in Q1 2024, marking the highest quarterly installation to date, attributed to lower system costs and higher internal rate of returns.
-The average selling price of Chinese and Indian mono PERC modules dropped significantly, with Chinese modules down 12.4% QoQ and 48.3% YoY, and Indian modules down 13.6% QoQ and 41.7% YoY.
-India’s solar imports were valued at over $2 billion in Q1 2024, up 147.5% YoY. The reimplementation of the Approved List of Models and Manufacturers (ALMM) from April 1, 2024, may increase project costs by restricting cheaper module imports.
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