Talk about a hot market! It's perhaps obvious that countries with weak or limited grid infrastructure go straight to a more decentralised model, but the fact it is happening at such pace in India, a fast growing economy is still great to watch. Of course this provides huge opportunities across the supply chain, not just modules and inverters, but all balance of systems, O&M and of course EPC's, developers and finance. I'm sure there are challenges to developing in India, but the market is certainly there.
Also interesting to note the 33% reduction in module prices cited for the last year. Perhaps if we can finally lose MIP we can kickstart the European solar sector again.
Mercom Capital Group has forecasted India to add 9,812MW of solar PV this year, well up from its previous projection of 9,020MW in January. This would also be a 130% increase year-over-year compared to the 4.3GW India installed last year, and the Asian country is widely expected to become the world's third largest PV market during 2017. Mercom noted a continued slide in Chinese module prices, which have fallen around 33% over a 12-month period. The industry expects module prices to decline slightly in Q2, followed by a more prolific decline in the second half of the year once Chinese installations slow down in June. Mercom cited these cost declines as a key enabler of recent record low tariffs in Madhya Pradesh and Andhra Pradesh.