India to add 20GW of solar PV in FY2023

• India set up more than 12GW of solar PV in the fiscal year 2022 (FY2022) yet this is expected to soar to more than 20GW in FY2023 as the nation aims to accelerate its solar implementation, according to JMK Research.

In FY2022, India added about 10.1 GW of utility-scale solar capacity and an additional 2.2 GW of rooftop capacity, with the top three executing states being the stalwarts of Rajasthan (6GW), Gujarat (1.9 GW) as well as Uttar Pradesh (0.5 GW).

For the FY2023, nonetheless, regarding 16.5 GW of new utility-scale solar projects and 3.5 GW of roof solar projects are expected to be commissioned, JMK stated in its Annual India Solar Transcript FY2022.

Furthermore, at the end of March, India had commissioned around 46GW of utility-scale solar capacity as well as an additional 43.6 GW was additionally beinged in project pipes, with the currently retired reverse auctions likewise finished for those projects, according to JMK.

Despite the Indian federal government's attempt to reduce the nation's reliance on Chinese module imports through its standard customs duty on solar cells as well as modules, Chinese suppliers still represented the large majority of modules to the country.

In overall, greater than 21GW of PV modules were shipped to India in FY2022, with the top 5 module providers being Chinese, making up virtually three-quarters of all shipments.

LONGi took top spot with 23.4% of all module shipments (accounting for about 4.9 GW of modules), Jinko Solar was available in second with 22.3% (4.6 GW), Trina Solar 3rd with 14.8% (2.9 GW), Znshine supplied 6.2% (1.3 GW) and Risen offered 5.6% (1.2 GW). A roster of other distributors composed the remainder and also were mostly from India.

On the other hand, Sungrow, Sineng and also Huawei were the leading 3 inverter providers in India in FY2022, with each other supplying around 11.5 GW of string as well as central inverters.