Page 20 - Edelweiss India Conference 2022 FLIPBOOK
P. 20
THE NEW EDGE
India to account for 6% of global demand in 2021
35
30
25
20
15
10
5
0
April 2% Japan 3% Middle East 2% India 2% USA17% Others 17% EU 18% China 32%
Source: Edelweiss Research, PV Info Link
Declining module prices dragging PV solar generation costs
Crystalline silicon module prices slid 89–95% for modules sold in Europe (2009 and 2020).
India would require This works out to weighted average cost reduction of 93% during that period, and is largely
~USD15bn funding
in order to set up and also a reduction in other system costs.
15GW green hydrogen The global weighted-average LCOE of utility-scale solar PV fell by 85% between 2010 and
electrolyser capacity 2020, from USD0.381/kWh to USD0.057/kWh (now similar to that of wind).
by 2030
India has become the new benchmark for the lowest-cost residential systems, since 2013.
Residential solar PV total installed costs in India declined 73% between 2013 and 2020.
India’s PV module prices down ~70% since 2013
Solar photovoltaic Concentrating solar power Onshore wind
0.4
0.381
0.340
2020 USD/kWh 0.3
0.2
0.162
0.1 0.108 0.089
0.057 0.076 0.084 0.084
0.040 Fossil fuel cost range
0.039 0.043
0.0
2010 2014 2018 2022 2010 2014 2018 2021 2010 2014 2018 2022 2010 2014 2018 2023
Auction Database LCOE Database
Source: Edelweiss Research, IRENA
18 Edelweiss Securities Limited
