The average cost of large-scale solar projects in India dropped by almost 23% year-over-year in the third quarter (Q3) of calendar year 2024, according to Mercom India Research’s recently released Q3 2024 India Solar Market Quarterly Update. The costs remained flat quarter-over-quarter (QoQ). By September 2024, solar module prices had declined for more than seven consecutive quarters, resulting in lower project costs. In Q3 2024, solar module costs fell 3.3% QoQ, accounting for almost 47% of average large-scale solar project costs.