The average cost of large-scale solar projects in India declined by 8.1% year-over-year in Q2 of 2023. Continuing from the previous quarter, the cost reduction was primarily driven by the falling module prices, which account for approximately 60% of the solar project cost. The average project costs decreased by 4.5% quarter over quarter. The findings were published in Mercom India Research’s recently released Q2 2023 India Solar Market Quarterly Update.