Release Date: 09-Nov-2012
India is emerging as one of the leading solar PV markets in the world as the country is blessed with immense potential for solar energy as most of the states have more than 300 sunny days and the specific average annual solar energy yield in India is estimated between 1700 – 1900 kWh per kWp. Indian Solar power has the potential to generate 50,000 MW which would be enough to meet over 7% of power requirement by 2022. In addition to this, it can mitigate about 2.6% of carbon emissions and save over 71 MTPA of imported coal in that year equivalent to US$ 5.5 Billion of imports.
Though, till now it plays almost non-existent role in the Indian energy mix in the next ten years primarily driven by rising power demand, increasing fossil fuel prices are expected to drive solar power installation and market is expected to show a significant growth. As solar technology cost incentive and require huge capital cost introduction of government incentives such as ambitious National Solar Mission (NSM), various state level initiatives, solar energy quotas for utilities are expected to fuel the growth in future.
India though its policy initiatives is trying to achieve 22 GW including 20 GW of grid connected and 2 GW of off-grid installation by 2022. In past few years Indian solar market has witnessed a rapid growth with installation about 300 MW in the year 2011 backed by strong central as well as state level policies. At the state level Gujarat is leading in installation backed by Gujarat Solar Policy 2009 and with a Renewable energy Portfolio Standard (RPS) of 5% for power-distribution companies to be increased to 7% for 2012.
Research report “India Solar Power Sector Analysis” gives comprehensive details on the multiple aspect associated with solar power generation in India. Report helps to analyze the existing policy and regulatory framework at national as well as state level.
For more information visit “India Solar Power Sector Analysis”.