The average cost of large-scale solar power projects in India fell 28.2% year-over-year in the first quarter (Q1) of 2024, primarily due to a significant drop in module prices over the year. Since Q1 2023, large-scale solar project costs have dropped consecutively for five quarters. Q1 2024 recorded the lowest quarterly average project cost. The average project cost was down 7.1% quarter over quarter (QoQ).