According to Mercom India Research’s recent 2021 and Q4 2021 India PV market update report, investment in the Indian PV industry in 2021 increased by an impressive 254% compared to 2020.
Compared to 2020, investment in India’s large-scale PV industry in 2021 will increase by 278%, and in 2021, investment in India’s rooftop PV sector will increase by 150%.
Investments through corporate finance in India increased by 202% in 2021 compared to 2020.
The substantial increase in investment in 2021 reflects the strong recovery of the Indian PV industry from the disruption caused by the COVID-19 pandemic in 2020, with rapid growth in PV project development activity.
Investments in the Indian PV industry in the fourth quarter of 2021 fell by 14% compared to the third quarter of 2021. Compared with the same period last year, investment increased by 109%.
Compared to the previous quarter, investments in India’s large-scale PV and rooftop PV sectors fell by 6% and 4% respectively in the fourth quarter of 2021, and investments through corporate finance fell by 46%.
Investments in the fourth quarter of 2021 were consistent with lower installations in the quarter, down 7% compared to the third quarter of 2021. Installations have been affected because PV projects in Rajasthan are being delayed pending a ruling by India’s Supreme Court on transmission lines that run through the region.