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India added 12.8GW of solar PV in the FY2023, an 8% decrease year-on-year according to JMK Research. 2022 saw the country experience significant module shortages as it strains to build out its domestic manufacturing profile and lessen its dependence on imports from the east.

Solar capacity will remain a key focus of the Indian government’s spending this year, but some existing challenges for the industry could still hamper growth, according to experts. 

Solar PV and solar-wind hybrid project bids in various Indian government schemes which were finalised by before 9 March 2021 but not yet complete have had their deadlines extended to March 2024.

Indian solar module manufacturing capacity is forecast to reach around 95GW – up from 39GW at the end of September 2022 – according to research from analyst and consultancy Mercom India Research.

As reports come in predicting stunted growth for Indian solar in 2023, PV Tech Premium spoke to Vinay Rustagi, managing director of Bridge To India, about the obstacles facing the sector in the next year and the prospect of light at the end of the tunnel.

Renewables developer Amp Energy India has formed a joint venture (JV) with Websol Energy Systems Ltd. for manufacturing up to 1.2GW of monocrystalline PERC solar cells and modules in the north-western Indian state of West Bengal.

The Indian government’s “Approved List of Models and Manufacturers” (ALMM) has passed 18GW of capacity and 66 different entities registered, according to consultancy JMK Research & Analytics.

India installed more than 12GW of solar PV in the financial year 2022 (FY2022) but this is expected to soar to more than 20GW in FY2023 as the country looks to accelerate its solar deployment, according to JMK Research.

Large developers of hybrid projects in India could see a 17% equity IRR by implementing five measures, according to a report by the IEEFA.

The Indian solar sector looks set for significant levels of disruptions over the next two years, with the government’s drive to establish a domestic manufacturing base risking deployment and investments needing to double if it is to meet its climate targets, according to industry analysts.