New Delhi: Open access solar installations in India grew two-fold to 1.8 GW during January-March this year, supported by multiple factors including lower module costs, US-based Mercom Capital said.
Solar energy through open access is an arrangement where an electricity producer installs a solar power plant to supply green energy to consumers.
According to the report titled 'Mercom India Solar Open Access Market', India added more than 1.8 gigawatts (GW) of solar open access capacity in the first quarter of calendar year 2024, up from 909.3 megawatts (MW) in the fourth quarter of 2023. Registers a fold increase. ' Said.
As of March 2024, the cumulative installed solar open access capacity was 14.3 GW.Solar open access developers benefited from low Chinese module prices and the suspension of Approved List of Models and Manufacturers (ALMM) orders for ongoing projects until March 2024.
Additionally, low power purchase agreement (PPA) prices due to lower project costs encouraged consumers to adopt solar open access.
“There is a growing demand for open access to green energy, especially solar, driven by financial savings and initiatives to add renewable energy into the power procurement mix.
“There is additional incentive from corporates taking the lead on climate change mitigation strategies,” said Priya Sanjay, managing director of Mercom. “If not for regulatory restrictions, green energy open access could be the driving force that gets India to its non- -Helps meet fossil fuel targets." India.
In the first quarter of 2024, Rajasthan led in solar open access capacity addition with about 28 per cent, followed by Andhra Pradesh and Maharashtra with 21 per cent and 12 per cent capacity addition, respectively.
The pipeline of solar open access projects under development and in the pre-construction stage was more than 18 GW by March 2024. About 74 percent of the pipeline projects were in Karnataka, Rajasthan, Maharashtra, Tamil Nadu and Andhra Pradesh.
Solar energy through open access is an arrangement where an electricity producer installs a solar power plant to supply green energy to consumers.
According to the report titled 'Mercom India Solar Open Access Market', India added more than 1.8 gigawatts (GW) of solar open access capacity in the first quarter of calendar year 2024, up from 909.3 megawatts (MW) in the fourth quarter of 2023. Registers a fold increase. ' Said.
As of March 2024, the cumulative installed solar open access capacity was 14.3 GW.Solar open access developers benefited from low Chinese module prices and the suspension of Approved List of Models and Manufacturers (ALMM) orders for ongoing projects until March 2024.
Additionally, low power purchase agreement (PPA) prices due to lower project costs encouraged consumers to adopt solar open access.
“There is a growing demand for open access to green energy, especially solar, driven by financial savings and initiatives to add renewable energy into the power procurement mix.
“There is additional incentive from corporates taking the lead on climate change mitigation strategies,” said Priya Sanjay, managing director of Mercom. “If not for regulatory restrictions, green energy open access could be the driving force that gets India to its non- -Helps meet fossil fuel targets." India.
In the first quarter of 2024, Rajasthan led in solar open access capacity addition with about 28 per cent, followed by Andhra Pradesh and Maharashtra with 21 per cent and 12 per cent capacity addition, respectively.
The pipeline of solar open access projects under development and in the pre-construction stage was more than 18 GW by March 2024. About 74 percent of the pipeline projects were in Karnataka, Rajasthan, Maharashtra, Tamil Nadu and Andhra Pradesh.
