Large-scale cost of photovoltaic cell cabinets for Indian ports

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View/Download Large-scale cost of photovoltaic cell cabinets for Indian ports [PDF]

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4 FAQs about Large-scale cost of photovoltaic cell cabinets for Indian ports

How much do solar panels cost in India?

India’s domestically manufactured solar cells cost 1.5 to two times more than Chinese imports, even after customs duties, says CRISIL Market Intelligence and Analytics. These higher prices could raise solar project capital costs by up to INR 10 million ($117,580)/MW and increase tariffs. From pv magazine India

Does India have a manufacturing capacity for photovoltaic (PV)?

There is no existing manufacturing capacity in India for the initial stages of the photovoltaic (PV) value chain, namely from polysilicon to wafer. For these raw materials, Indian solar manufacturers are still dependent on imports, mainly from China. Prolonged dependence on imports raises the severity of the associated risks.

Why did large-scale solar project costs fall in India in Q1 2024?

The average cost of large-scale solar power projects in India fell 28.2% year-over-year (YoY) in the first quarter (Q1) of 2024, primarily due to a significant drop in module prices over the year. Since Q1 2023, large-scale solar project costs have dropped consecutively for five quarters. Q1 2024 recorded the lowest quarterly average project cost.

Why did India add more solar capacity in Q1 2024?

The significant fall in system costs has lowered the cost of capital and increased the internal rate of returns for large-scale solar projects, driving capacity additions. In Q1 2024, India achieved a significant milestone by adding over 10 GW of solar capacity in Q1 of 2024, the highest quarterly installation to date.