What's the state of India's solar industry in 2020?
Sky-high ambitions, unmet potential and unfixed problems.
Things have come full circle for Indian solar in the last two years.
Capacity addition has stagnated. Project costs are increasing. Debt is climbing up. Two-thirds of tenders floated were cancelled, under-subscribed or delayed. And there are no buyers for nearly a third of renewable power projects.
The troubles plaguing India’s solar sector are both macro and structural in nature. Broadly, issues with GST, COVID-19 and the economic slowdown that preceded the pandemic are to blame for the solar slump.
There are issues within the sector as well - from both the supply and demand sides.
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