Weekly Roundup: Key Developments in India's Solar PV Sector (July 13-19, 2024)

In this week's roundup, we explore significant advancements in the Indian solar PV industry, highlighting the nation's progress and collaborations that are shaping its renewable energy landscape.

India's solar manufacturing capacity continues to grow, with a cumulative solar module production capacity of 64.5 GW and a solar cell capacity of 5.8 GW. This surge is driven by export opportunities and the reimplementation of the ALMM order, promising a robust future for India's solar manufacturing sector.

In a major collaborative effort, Tata Power Renewable Energy and NHPC have joined forces to deploy rooftop solar projects across government buildings under the PM Surya Ghar Yojana. This initiative is set to enhance solar energy adoption in public infrastructure.

Sungrow's partnership with Hero Future Energies marks a significant milestone, with the former supplying 850 MW of advanced inverter solutions for various renewable projects. This agreement highlights the increasing demand for innovative solar technologies.

Freyr Energy is set to solarize over 1,000 homes in Uttar Pradesh by March 2025, aiming to expand solar energy usage at the residential level. This initiative supports India's broader renewable energy objectives, emphasizing the importance of residential solar adoption.

Lastly, Mercom India's report indicates a 10% drop in solar sector corporate funding in the first half of 2024, totaling $16.6 billion. The decline underscores ongoing challenges in the global solar market, including policy changes and financial uncertainties.

Stay tuned for more updates as we continue to track the dynamic developments in India's solar PV industry.