What a difference six years make? Pre-Covid, India was catching up with China in the race for solar supremacy. Post-pandemic, India has slowed while China has surged. In 2018, the difference between India and China's solar energy capacity additions were just 17 gigawatts (Gw) - India added 7Gw to China's 24Gw. Last year, the gap widened 30-fold in China's favour, with our northern neighbour adding over 200Gw compared to India's 7.5Gw, a 44 per cent drop yearon-year (Y-o-Y).
In the first half of 2024, China added over 100Gw of solar capacity, according to data from Centre for Research on Energy and Clean Air (CREA), a Finnish think tank. India added 14.9Gw, a record for the country and nearly four-fold higher from a year-ago period, according to Mercom Research. JMK Research reported additions of 12.2Gw during the period.
India's first half performance was skewed by a massive January-March quarter, an outlier where around 10Gw was added. Installations tumbled in the subsequent quarter. The bullish first quarter numbers resulted from Indian developers scrambling to take advantage of cheap Chinese imports after New Delhi denied another extension to India's mandatory domestic solar module procurement programme beyond March 31. Re-imposition of the Approved Lists of Models and Manufacturers (ALMM) programme has impacted several open access projects while tendering for utility scale dropped in April-June by 65 per cent quarter-on-quarter (Q-o-Q), Mercom said.
"Indian renewable growth faces several changes, including land acquisition, grid connectivity, and supply chain and regulatory delays," said Shriprakash Rai, chief revenue officer, Ampin Energy Transition, a renewable energy company. "ALMM has had a mixed impact. While it aims to strengthen local manufacturing, it has led to supply chain constraints, particularly for developers deploying cutting-edge technologies," Rai added.
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TRUTH BE TOLD
