India is tipped to generate new solar capacity of 5.1 GW in current year, which shows the growth of 137% when compared to last year.
Bridge to India Consultancy has revealed that India‘s complete installed solar capacity, including off-grid and rooftop segments, has exceeded the 10 GW mark. It foresees average yearly capacity addition of 8-10 GW per year next year on wards.
“Owing to strong government support from government and enhancing price competitiveness of solar power, the sector has witnessed phenomenal growth in the last couple of years. In the next one year, India would emerge as the third country after China and the US as the globe’s biggest solar market,” it said.
The company’s Managing Director, Vinay Rustagi added: “It is obvious that scores of people are going to pose the question – given our tardiness in achieving 10 GW in excess of 5 years time, how we can reach the capacity of 100 GW in further 5 years? It looks to be a stiff target.”
Instead of having apprehensions on the target, the real point here is to accept the transformational financially viable, environmental and social advantages of solar technology and to create a favorable environment for its intensification,” he said.
It said Ujwal DISCOM Assurance Yojana (UDAY) works with the mission of fortifying the nation’s fragile distribution sector and has already yielded encouraging results in the short-term.
Due to eight of the 17 states/union territories, including some of the poorly performing states such as Uttar Pradesh and Haryana that have become a part of the UDAY scheme so far, have lowered the deficit of per unit of electricity.
Beefing up financial position of the offtakers addresses one of the major problems faced by private sector developers, it added. In addition to this, the solar park scheme has been constructive in dealing with the two major problems of land acquisition and power evacuation for project growth.
Certain important themes can be seen in the development of the Indian solar market so far, it revealed. Among all the states in India, Tamil Nadu occupies the first position with the highest installed capacity, Rajasthan, Andhra Pradesh, Gujarat, Telangana, Madhya Pradesh and Punjab are the other states in the lead with respective installed capacity.
These seven states together constitute more than 80 per cent of total installed capacity as of the middle of November, 2016. Some of the big power utilizing states like Uttar Pradesh and Maharashtra are lagging behind in the sector, it pointed out.
Utility-scale solar’s share itself is more than 85 per cent of whole set up capacity. Rooftop solar, nearly 10 percent of the sector, has also been rising at an impressive CAGR of 98 per cent from 2011 to 2015 and is supposed to play constructively essential role in the sector, it said.