Bridge India

INDIA SOLAR COMPASS | October 2014 Edition


date of publication:01.10.2014


The India Solar Compass is a quarterly market analysis report by BRIDGE TO INDIA on the developments in the Indian solar market.

The key highlights from this edition of India Solar Compass are as follows:

  • Investment of over INR 116 billion ($1.9 billion, €1.4 billion) is expected over the next one year in the Indian solar market
  • BRIDGE TO INDIA predicts a solar capacity addition of 1,660 MW over the next four quarters. This would be a record growth for a 12 months period.
  • US module supplier First Solar recovers lost ground in India by securing over 100 MW of supply contracts under the National Solar Mission
  • “Made in India” modules by Waaree, Vikram Solar and ReneSola, Tata Power Solar are to be used for projects under the DCR category of the NSM
  • Established EPC contractors such as Juwi, L&T, Sterling & Wilson and Belectric win many projects under the National Solar Mission
  • Based on the current contract pipeline, local start up, Rays Power Infra, emerges as one of the largest third-party EPC contractors in the Indian solar market
  • The price of Chinese C-Si tier I modules fell by around 10% (in INR terms) in the last four quarters. This is double the lon-term trend of 5%. Are we entering a period of accelerated, sustained solar cost reduction?
  • The same is true with respect to inverters: Some aggressive players in the central inverters market have spearheaded a price crash to INR 2.7/Wp

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