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Domestic solar installations surge 167% to 16.4 GW in Jan-Sep: Mercom

India added 16.4 gigawatt (GW) of solar capacity during January-September 2024, posting a 167 per cent year-on-year rise on account of commissioning of delayed projects, Mercom Capital said. The country had installed 6.2 GW of solar capacities in the nine-month period of 2023, the US-based research firm said in its latest report. "In the nine months (9M) of January-September of the calendar year (CY) 2024, solar projects totaling 16.4 GW were added in India, an increase of over 167 per cent compared to 6.2 GW in 9M 2023. The commissioning of several previously delayed projects contributed to capacity additions in the first nine months of 2024," the report titled 'India Solar Market Update' said. As per the report, the solar installations in the July-September period rose by 78 per cent to 3.5 GW from 2 GW in the third quarter of last year. As of September 2024, India's cumulative installed solar capacity stood at 89.1 GW, of which utility-scale projects accounted for more than 86 p

Domestic solar installations surge 167% to 16.4 GW in Jan-Sep: Mercom
Updated On : 21 Nov 2024 | 4:58 PM IST

Energy storage investments double to $15.4 bn in 1st half of 2024: Mercom

The global corporate funding in the energy storage sector more than doubled to USD 15.4 billion during the January-July period, according to Mercom Capital. The investments include Venture Capital (VC) funding, debt financing, and public market financing, the US-based research firm said in its latest report. "Corporate funding for energy storage companies in the first half of 2024 reached USD 15.4 billion across 64 deals, up 117 per cent over USD 7.1 billion in 59 deals in H1 2023, driven by a strong first quarter," said the 'Funding and M&A Report for Storage & Grid'. VC funding for energy storage companies in H1 2024 came to USD 2.4 billion in 48 deals, a 37 per cent increase compared to USD 3.8 billion in 43 deals in H1 2023, Mercom said. Lithium-ion-based battery companies received the most VC funding in H1 2024. Other top funded categories included Battery Recycling, Metal-Hydrogen Batteries, Materials and Components providers, and Sodium-based battery companies, the ...

Energy storage investments double to $15.4 bn in 1st half of 2024: Mercom
Updated On : 16 Aug 2024 | 11:46 AM IST

Domestic open access solar capacity addition doubles in Jan-Mar: Mercom

Open access solar installations rose two-fold in India to 1.8 gigawatts during January-March this year supported by several factors, including reduced module cost, US-based Mercom Capital has said. Solar power through open access is an arrangement where a power producer establishes a solar power plant to supply green energy to consumers. India added over 1.8 gigawatts (GW) of solar open access capacity in the first quarter of the calendar year of 2024, posting a two-fold increase from 909.3 megawatts (MW) in Q4 2023, the report titled 'Mercom India Solar Open Access Market' said. As of March 2024, the cumulative installed solar open access capacity stood at 14.3 GW. Solar open access developers benefited from lower Chinese module prices and the suspension of the Approved List of Models and Manufacturers (ALMM) order for projects commissioned through March 2024. Additionally, lower power purchase agreement (PPA) prices, due to reduced project costs, further incentivized consumers t

Domestic open access solar capacity addition doubles in Jan-Mar: Mercom
Updated On : 09 Jun 2024 | 2:25 PM IST

Rooftop solar installations rise 6.25% to 1.7 GW in 2023: Mercom Capital

Rooftop solar capacity addition saw a 6.25 per cent growth to 1.7 gigawatt in 2023, supported by various factors like reduced installation cost, according to Mercom Capital. The rooftop capacity addition was at 1.6 gigawatt (GW) in 2022, the US-based research firm said in its latest report. In October-December 2023, 406 megawatts (MW) of rooftop solar was added, down 15.9 per cent from 483 MW in the last quarter of 2022, the 'Mercom India Rooftop Solar Market Report' said. Cumulative rooftop solar installations reached 10.5 GW at the end of December 2023. Residential installations were the primary driver of capacity additions in 2023. However, growth was marginal as many commercial and industrial (C&I) consumers waited for module prices to stabilise to lower their capital investments. The residential segment accounted for over half of the capacity additions in 2023, followed by C&I segments. "Rapidly falling system costs, increasing electricity rates, incentives for ...

Rooftop solar installations rise 6.25% to 1.7 GW in 2023: Mercom Capital
Updated On : 03 Mar 2024 | 2:31 PM IST

Corporate funding in solar sector touches decade high of $34.3 bn: Report

Global corporate funding in solar sector rose 42 per cent to USD 34.3 billion in 2023, supported by "favourable policies worldwide" and focus on energy security, according to Mercom Capital. The total corporate funding includes venture capital (VC) funding, public market, and debt financing, the research firm said in a report on Monday. The USD 34.3 billion in 2023 is the highest in a decade, the 'Mercom Annual and Q4 2023 Solar Funding' report said. "The total corporate funding... into the solar sector, increased 42 per cent year-over-year (y-o-y) in 2023, with USD 34.3 billion raised in 160 deals, compared to USD 24.1 billion in 175 deals in 2022," it said. The funding in the sector was the highest in a decade despite high-interest rates and challenging market conditions, Mercom Capital Group CEO Raj Prabhu said, adding solar continues to attract significant investments driven by the Inflation Reduction Act (an act of the US), the global focus on energy security, and favorable ..

Corporate funding in solar sector touches decade high of $34.3 bn: Report
Updated On : 29 Jan 2024 | 2:08 PM IST

Corporate funding in energy storage falls 31% to $15.2 bn: Mercom Capital

The global corporate funding in energy storage segment fell 31 per cent to USD 15.2 billion during the January-September 2023, the US-based Mercom Capital said on Thursday. The segment had attracted USD 22 billion worth of investments during the nine month period last year, the research firm said in its latest report. "Corporate funding in the energy storage sector was down 31 per cent in 9M (nine month) 2023, with USD 15.2 billion raised in 94 deals, compared to USD 22 billion in 93 deals in 9M 2022," it said. However, during the July-September quarter the segment attracted USD 8.2 billion investment, up 32 per cent year-on-year over USD 6.2 billion raised in the same period of 2022. The funding includes the venture capital, debt and public market financing modes. In India, a lithium-ion battery manufacturer raised USD 2.4 million in pre-series A round funding, while public infrastructure finance company REC Ltd approved a funding of USD 730.8 million to Greenko to develop a 1,44

Corporate funding in energy storage falls 31% to $15.2 bn: Mercom Capital
Updated On : 02 Nov 2023 | 5:10 PM IST

Solar capacity addition in India declines 58% in Apr-Jun: Mercom India

Solar capacity addition in the country declined 58 per cent to 1.7 gigawatt in the April-June period, mainly due to land and transmission-related issues, Mercom India said on Monday. The country added 4 GW of solar capacity in the year-ago quarter, the research firm said in 'Q2 2023 India Solar Market Update'. "India added 1.7 GW solar capacity in Q2 of 2023. (New) installations dropped more than 10 per cent quarter-on-quarter (q-o-q) compared to 1.9 GW in the January-March period," it said. Capacity additions fell almost 58 per cent year-on-year (y-o-y) compared to 4 GW in the year-ago period. Large-scale solar projects accounted for 77 per cent of the capacity added during the quarter, and rooftop solar installations contributed 23 per cent. Over 1.3 GW of large-scale solar capacity was added in the quarter, down 64 per cent y-o-y, and 7 per cent q-o-q. During January-June, new installations were at 3.6 GW, down 53 per cent from 7.6 GW during the same period last year. India's

Solar capacity addition in India declines 58% in Apr-Jun: Mercom India
Updated On : 28 Aug 2023 | 3:53 PM IST

Corporate funding in energy storage halves to $7 bn in Jan-Jun: Report

Total corporate funding in energy storage globally fell 55 per cent to USD 7.1 billion during the January-June period or first half of 2023, according to Mercom Capital. The segment had attracted USD 15.8 billion during the same period in 2022, the research firm said in its latest report. The report comes at a time when various governments across the globe are aiming to increase storage of renewable energy as part of their green initiatives to meet their net zero goals. "Corporate funding into energy storage companies reached USD 7.1 billion in 59 deals in 1H (first half) 2023, a 55 per cent decrease YoY compared to USD 15.8 billion in 60 deals in 1H 2022," it said. However, the corporate funding in energy storage bounced back in April-June or Q2 2023 with USD 4.9 billion raised in 32 deals, a 126 per cent increase quarter-over-quarter (QoQ). The funding during the Q2 was up 67 per cent year-over-year (YoY), the report said. The venture capital (VC) funding in energy storage in 1H

Corporate funding in energy storage halves to $7 bn in Jan-Jun: Report
Updated On : 27 Jul 2023 | 2:50 PM IST

Open access solar capacity addition falls 37% to 518 MW in Jan-Mar: Mercom

Open access solar capacity installations in the country fell by 37 per cent year-on-year (y-o-y) to 518 megawatt (MW) in the January-March period of this year, according to Mercom India. However, on a quarter-on-quarter (q-o-q) basis, the capacity addition was 68 per cent higher compared to 308 MW open access solar capacity installed in the October-December period of 2022, the research firm said in its latest report. "In Q1 of the calendar year (CY) 2023, India added 518 MW of solar open access, an increase of over 68 per cent compared to 308 MW installed in Q4 2022. Installations were down 37 per cent y-o-y over 825 MW in Q1 2022," the 'Q1 2023 Mercom India Solar Open Access Market Report' said. Solar power through open access is an arrangement where a power producer establishes a solar power plant to supply green energy to consumers. As of March 2023, the country's pipeline of open access solar projects stood at 6.4 gigawatt (GW). In Q1 2023, Karnataka remained the leading state

Open access solar capacity addition falls 37% to 518 MW in Jan-Mar: Mercom
Updated On : 15 Jun 2023 | 5:42 PM IST

India needs to install 30 GW solar capacity annually to meet target: Mercom

India will require to add 30 gigawatt (GW) of solar energy capacity annually to meet the 280 GW solar capacity installation target by 2030, according to US-based Mercom Capital. Sharing his outlook, Mercom Capital CEO Raj Prabhu said, "The outlook is very positive on the back of various steps taken by the government to help and support the domestic renewable energy sector". The government launched production-linked incentive programmes, renewable manufacturing zones and a few other initiatives to make India Atmanirbhar in this area. However, policy certainty and timely implementation of these programmes are critical for achieving the government's goal of self-reliance in renewable energy, he noted. "We must change our mindset from a 10 GW a year industry to a 30 GW a year solar industry and establish all the necessary infrastructure physical, policy and financial to achieve the 280 GW goal (solar capacity installation) along with the energy transition goals," he said. He further s

India needs to install 30 GW solar capacity annually to meet target: Mercom
Updated On : 20 Apr 2023 | 7:26 PM IST

Investment in energy storage, smart grid rose 66% in Jan-Sep period: Report

Investments in the energy storage and smart grid globally grew 66 per cent year-on-year to record USD 25 billion in January-September period this year, according to a Mercom Capital report. The funding includes those through venture capital, public market financing and debt financing. "Total corporate funding for energy storage, smart grid, and efficiency companies in 9M 2022 was record USD 25 billion compared to USD 15.1 billion raised in 9M (January-September) 2021," the global clean energy consulting firm said in the report released on Wednesday. During January-September 2022, the energy storage segment garnered USD 22 billion funding through 92 deals. This is 69 per cent higher compared to the USD 13 billion raised in 74 deals in the year-ago period. The rest were made in smart grid and energy efficiency areas. Raj Prabhu, CEO of Mercom Capital said, the investments will continue to rise, with energy storage companies poised to play a vital role in the transition from fossil f

Investment in energy storage, smart grid rose 66% in Jan-Sep period: Report
Updated On : 26 Oct 2022 | 2:15 PM IST

India adds record 7.2 GW solar capacity in Jan-Jun 2022: Mercom India

Solar capacity installations in the country rose by 59 per cent to record 7.2 gigawatt (GW) during first half of 2022, according to Mercom India Research. In January-June or H1 of 2021, the country had added 4.5 GW solar capacity, the research firm's 'Q2 2022 India Solar Market Update' released on Thursday said. The solar installations in April-June period of 2022 also increased by 59 per cent to over 3.9 GW compared to 2.4 GW installed in second quarter of 2021. "The sector has witnessed the highest ever quarterly and half-yearly solar capacity additions," it said. India's cumulative installed solar capacity now stands at 57 GW. "Even with mounting challenges from supply constraints and rising costs, India had its best quarter and first half ever for solar," said Raj Prabhu, CEO of Mercom Capital Group. Cumulative large-scale solar PV installations in Rajasthan reached almost 13 GW as of June 2022, and the state accounted for almost 27 per cent of the total installations in the

India adds record 7.2 GW solar capacity in Jan-Jun 2022: Mercom India
Updated On : 18 Aug 2022 | 4:47 PM IST

Global solar sector attracts $7.5-bn corporate funding in March qtr: Mercom

Corporate funding in global solar sector, including India, saw a quarter-on-quarter growth of 51 per cent to USD 7.5 billion in the March quarter, according to Mercom Capital Group

Global solar sector attracts $7.5-bn corporate funding in March qtr: Mercom
Updated On : 19 Apr 2022 | 9:53 PM IST

China, US, India, Japan dominate solar market: Mercom global listing

Adani tops global league table in installed capacity

China, US, India, Japan dominate solar market: Mercom global listing
Updated On : 02 Sep 2020 | 1:05 AM IST

Mercom forecasts 100% growth in solar installations in 2016

There is a cautious optimism in the solar industry as aggressive bidding remains a major concern throughout the sector, the company says

Mercom forecasts 100% growth in solar installations in 2016
Updated On : 09 Mar 2016 | 1:16 PM IST