Economy

Solar capacity crosses 5,000 MW

Solar panels, seen on the terrace of Ramakrishna Mission Students Home, in Chennai.
Photo : Bijoy Ghosh
To go with Swathi Moorthy's report

Solar panels, seen on the terrace of Ramakrishna Mission Students Home, in Chennai.
Photo : Bijoy Ghosh
To go with Swathi Moorthy's report

: India’s total installed capacity of solar power has crossed the 5-GW-mark. The total commissioned utility solar capacity in the country stands at about 4.7 GW, while rooftop capacity is 525 MW, according to Bridge to India, a solar energy consulting firm

“Solar sector has got great momentum with capacity addition in 2015 more than doubling up over last year and total pipeline of over 15 GW of projects under bidding-cum-development,” Vinay Rustagi, Managing Director, Bridge to India, said in a report.

During last fiscal, a total capacity of 1,112 MW of grid connected solar power projects and 44.5 MW of rooftop projects were installed. For the current fiscal, 827 MW of solar capacity has been added so far.

“While the central government has laid down the ambitious target of 100 GW by 2022, states have taken the lead over central government schemes in the last year. Encouraged by falling costs and growing need for green energy, states like Punjab, Madhya Pradesh, Karnataka, Telangana, Andhra Pradesh and Tamil Nadu have all announced substantial policy initiatives,” he added.

Rajasthan, Gujarat and MP have historically been the front runners in solar power capacity addition, but the four southern Indian states are expected to dominate the market over next two years. As of today, the country has a solar project pipeline of 15.7 GW. The fiscal year 2016-17 will be Indian solar market’s transition year: annual capacity addition could top 6 GW with India becoming one of the leading solar nations globally.

“Consumer awareness has improved significantly in the rooftop segment and both business and residential consumers are keen to tap into rooftop solar. “We expect the rooftop market to grow at over 50 per cent rate in the next few years,” said Mr.Rustagi.

Solar Energy Corporation of India is engaged in implementing a number of renewable energy projects including setting up of 2,750 MW solar power projects under VGF (viability gap funding) schemes, solar Park schemes, roof-top projects and projects in association with other organisations.


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Printable version | May 24, 2022 12:07:14 pm | https://www.thehindu.com/business/Economy/solar-capacity-crosses-5000-mw/article7953137.ece