Indias Solar Panel Imports Rise Despite Self-Sufficiency — Heres Why – NDTV Profit

In June 2024, solar cell prices plummeted to 4 cents per watt, a drastic drop from their peak of 16-17 cents per watt in December 2022. Similarly, prices for mono PERC modules, known for their high efficiency, hit a historic low of 10-11 cents per watt, down from 27-28 cents per watt in the fourth quarter of fiscal 2022.

ICRA Research attributes this price decline to improved supplies throughout the value chain, US restrictions on Chinese imports, and reduced demand from Europe. This development bodes well for Indian solar developers with projects tendered in the past two years that have yet to commence, the research firm said.