Covid impact: India’s solar PV installations to drop to 4 year-low in 2020, says WoodMac

With the ongoing Covid-19 pandemic impacting project activity, the total installations of solar photovoltaic (PV) systems in India is likely to drop to a four year-low in 2020, according to Wood Mackenzie (WoodMac).

“According to Wood Mackenzie’s analysis, Indian PV installations will sit at just 4.9 GW in 2020, down 42 per cent on 2019 and the lowest level since 2016,” the global research and consultancy firm said in a statement.

Wood Mac also said coronavirus cases in India are continuing to rise and social distancing measures are likely to slow installation activity for the rest of the year at the very least. “Without policy enforcement, India’s 100 GW solar target is unlikely to be met,” the statement said.

Overall, as global solar PV markets continue to weather the challenges posed by the coronavirus pandemic, solar PV installations are expected to hit 115 GWdc this year, up 5 per cent from the total installed globally in 2019.

“The most severe of lockdowns have ended in almost all countries, with construction on PV sites able to continue as planned, albeit with many projects facing delays caused by disruption earlier in 2020

ET Energy World
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