Solar energy installations drop to 49% in Q1 over lack of fund availability

1,737 Mw solar installations in India in Q1 2019 vs 3,377 Mw added in Q1 2018. 32% of the new power capacity added in Q1 2019 was solar

Solar energy installation dropped 49 per cent to 1,737 Mw in the first quarter (Q1) of this calendar year, from 3,377 Mw in the same period a year ago.

Investment in the sector was $2.8 billion or 12 per cent lower than in Q1 of 2018. The reasons include the general election, no auctions and lack of finance availability.

Mercom India numbers show while volumes rose four per cent from quarter to quarter, year-on-year installation dropped 49 per cent. Rooftop installation dropped 33 per cent over a year, after four quarters of solid growth.

Neha Agrawal, head of corporate strategy at Vikram Solar,