Solar auctions during the calendar year 2023 witnessed an 82% year-over-year (YoY) growth, with 22.2 GW projects auctioned, according to Mercom India Research. Falling module prices, streamlined balance of system (BoS) and modules’ supply, and stable BoS prices drove the auction activity in 2023. Solar tender activity in 2023 surged by 50% YoY, with multiple entities announcing tenders totaling over 57 GW.