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This upswing is a direct result of the state distribution utilities' (discoms) increased focus on replacing conventional meters with smart meters under the Revamped Distribution Sector Scheme (RDSS) launched by the Government of India in July 2021.
Icra: The PLI scheme is expected to enable addition of 48 GW integrated module manufacturing units with investment of over Rs 1 lakh crore
In India's case, a more steep reduction in solar LCOE happened in the 2010-2016 phase as against the 2016-2022 phase, according to a recent report by IRENA
India’s solar cell and module exports by domestic original equipment manufacturers (OEMs) stood at Rs 8,840 crore in financial year 2022-23 (FY23), which is a whopping 364 per cent increase from Rs 1,819 crore in FY22, according to data shared by ICRA.