Page 19 - Edelweiss India Conference 2022 FLIPBOOK

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India’s PV installation cost: Lowest in the world in 2020

2000
1889
1832
1800
1600
1400
1275
1200 1167 1148 1103 1101 1073 1061
2020 USD/kW 1000 1008 949 942 866 827

781
761
800
700
651 596
600
400
200
0 Japan Canada Brazil France Mexico Turkey Italy Spain China India
Russian Federation Argentina South Africa United States Indonesia Australia Saudi Arabia Republic of Korea Germany

World PV Installation India’s PV Installation

Source: Edelweiss Research, IRENA
India accounts for 6% of global solar module demand

Global PV module demand is likely to increase by 10% YoY in 2021 to 154GW. India accounts
for 6% of the global demand, whereas China accounts for one–third of global demand.

Global PV module demand to rise 10% in 2021

155 154
The global weighted-
(Global module demand GW) 145 140 scale solar PV fell by
150
average LCOE of utility-

85% between 2010
and 2020 as PV module
140
prices have fallen by

135

130 93%
2020 2021

Source: Edelweiss Research, PV Info Link

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