Elections take a toll on solar; new installations down by 49% in Q1 2019

Solar investments in Q1 2019 totaled over $2.8 billion, 12% lower than Q1 2018

Installations in the Indian solar market dropped by 49 per cent year-on-year to 1,737 MW in Q1CY19 compared to 3,377 MW added in Q1 2018. In Q1 2019, investments in the Indian solar sector totaled over $2.8 billion, 12 per cent lower compared to investments made in Q1 2018.

Activity in the Indian solar market was generally subdued due to general elections. Auction activity also grounded to a halt during the model code of conduct period. 

Mercom India Research forecasts India to install approximately 9 gigawatts (GW) of solar capacity in the calendar year 2019.

According to Mercom India Research’s