The Indian solar market is still heavily dependent on the lowest cost, and the price gap between monocrystalline and polycrystalline PV modules has begun to shrink. At REI Expo in Greater Noida, India, PV Tech interviewed several large component manufacturers to discuss the future of monocrystalline in the big markets all over the world.
Anmol Singh Jaggi, co-founder of India's solar consultancy, EPC service and operation and maintenance company Gensol Group, who serves multiple projects in India, told PV Tech that the company's technology choice proportion of polycrystalline and monocrystalline for the 2017 Indian project is 95% and 5% respectively. However, in 2018, the proportion of polycrystalline and monocrystalline has been close to 85% and 15%, respectively. In addition, it is expected that the proportion of polycrystalline in 2019 is 65-70%, and that of monocrystalline is 30-35%.
Singh Jaggi said: "The reason is very clear. The price of the component with no guarantee tax is 25 cents. Earlier, the monocrystalline producer will charge a premium of 3-4 cents. Now the premium has dropped to 1 cent. Even if there is no difference in the price of monocrystalline and polycrystalline, monocrystalline is also very beneficial for system balancing because it would greatly reduce the cost. Therefore, I believe monocrystalline is the future."