India’s Solar Market to Become the World’s Third Largest This Year

EnergyTrend recently predicted that the demand for solar photovoltaic all around the globe is likely to remain stable. For the year 2017, the demand is likely to reach a stable point at 74 Gigawatts solar capacity.

With the ambitious target of generating solar energy of up to 100 Gigawatts of capacity by the year 2020, the analysis says that India will be adding about 14 percent of solar photo voltaic energy to the global demand. Various initiatives have been taken by the government in order to achieve their goal and rapid strides have been made in this sector and the techniques that are being used are both efficient and effective.

As far as the other countries like China are concerned, their contribution to the growth of the demand for solar photovoltaic energy is likely to decrease as their target for the capacity of generation has been lowered by the government when compared to the previous year.

With the commendable efforts India is making in the green sector, the country has set another milestone very recently when it successfully installed a solar photo voltaic facility with a capacity of 10 Gigawatts. This project made India triple its solar generation capacity in a span of less than 3 years.

EnergyTrend has projected that the country will be adding an additional generation of 10 Gigawatts in this year and on the other hand, the Government of India is also expecting to add nearly 20 Gigawatts in the upcoming 15 months.

Sources have revealed that about 14 Gigawatts of solar capacity is at the designing stage in the country and is under construction. A large part of this project is going to get commissioned in the beginning of the financial year and another 6 Gigawatts of solar energy generation facility is going to be soon auctioned.

From time to time, the government is coming up with new measures and strategies to foster and develop the harnessing of renewable energy.

In the previous month, the CERC (Central Electricity Regulatory Commission) had declared that they plan to decrease the floor price of the REC (that is the solar energy certificates) and the prices will be effective from 1st April, 2017.

In the Union Budget of India, it was declared that all the railway stations in India will be functioning and using power generated by solar energy. A new report also stated that if the rate at which the solar power is available now continues, then by the year 2050, India will not be using coal for the generation of power at all. If this happens, then India will be outperforming all the commitments mentioned in the Paris Agreement significantly.

Leave a Reply

Your email address will not be published. Required fields are marked *