Mercom India Solar Open Access Market Report Q3 2022
India added 596 MW of solar open access capacity in Q3 2022, a 12.5% quarter-over-quarter (QoQ) decrease compared to 680 MW installed in Q2 2022. However, Year-over-year (YoY) installations increased by 91% compared with 312 MW in Q3 2021, according to the newly released Mercom India Solar Open Access Market Report Q3 2022.
In 9M 2022, India added about 1.9 GW of open access solar, an increase of 96% from the 956 MW installed in 9M 2021. The installations during the period have surpassed the annual capacity additions over the past years.
As of September 2022, the total installed solar capacity in the open access segment was over 7 GW. The top five states accounted for over 74% of the country’s cumulative open access solar installations.
The pipeline of projects under development and pre-construction phase is over 5 GW.
In Q2 and Q3, open access project developers focused on the early commissioning of contracted project capacities due to uncertainty around the mandatory use and availability of the modules enlisted under the ‘Approved List of Models and Manufacturers’ (ALMM). Higher installation levels in Q1 were to primarily avoid the increase in project costs due to the imposition of basic customs duty (BCD) on imported solar modules and cells.
Andhra Pradesh led the Green Day Ahead Market (G-DAM) in terms of power sold through the exchange, with 359 MU accounting for nearly 33.5% of the market.
The report offers a detailed analysis of the solar open access business. Tamil Nadu, Uttar Pradesh, Rajasthan, and Kerala released tariff orders for FY23. The report comprehensively covers open access charges and retail supply tariffs for these states and the market size.
The average PPA prices, net landed costs, and open access policies and regulations released in Q3 2022 are featured in the report.
The report also highlights the views and opinions of the top open access installers across the country during the quarter.
Key Highlights from Mercom India Research’s India Solar Open Access Market Report Q3 2022
- In 9M 2022, India added about 1.9 GW of open access solar, a YoY increase of approximately 96%
- In Q3 2022, 596 megawatts (MW) of open access solar were added in India, down 12.5% QoQ and 91% increase YoY
- Karnataka was the leading state, with 198 MW added in Q3 2022
- As of September 2022, the total installed solar capacity in the open access segment was over 7 GW
- The pipeline of solar open access projects is over 5 GW
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