Monday, January 20, 2014: India is focusing more and more towards solar power due to its growing need for energy and shortages in conventional power generation sources. The country is also seeing an increasing demand for solar photovoltaic panels and products. This has resulted in manufacturers expanding their existing capacities to fulfill the rising demand in the country.
As stated on industrytoday.co.uk, the India government has started subsidy schemes for supporting domestic manufactures that will assist domestic panel producers for scaling up operations and improving their cost competitiveness.
As per RNCOS’ report, “Indian Solar Power Industry Outlook to 2017”, the country’s installed capacity for solar power generation has seen an upward rise in the past few years due to increasing cost of conventional energy and seen a decline in cost of solar power.
Further, the country’s rapid rise of primary energy and electricity needs, overdependence on coal for electricity generation, and costly oil and gas imports make solar power a better option than to conventional energy sources. Taking into account the above factors, the aggregated solar PV-installed capacity in India is shown to grow at a CAGR of 31.5 per cent during 2012-2016. The report offers a detailed analysis of industry performance and future outlook of solar power sector with a detailed analysis of both solar photovoltaic and solar thermal. Also, the report analyses some of the top states in the country for further clarifying the picture of solar power installation and solar projects sanctioned. It also gives a state-wise analysis covering the regulatory environment and recent developments in different states.
