India’s solar capacity triples to 10 GW in the last 3 years

India’s solar capacity triples to 10 GW in the last 3 years

India is set to overtake Japan as the world’s third-largest solar power market in 2017, according to latest research.

The Taiwan research firm – EnergyTrend – predicts that the global solar photovoltaic (PV) demand is expected to remain stable at 74 gigawatts (GW) in 2017, with the Indian market experiencing sustained growth.

According to the analysis, India is expected to add 14% to the global solar PV demand as the country’s government pursues its ambitious target of 100 GW of solar capacity by 2020 – the equivalent of the addition of 90 GW over the next five years.

While growth in China’s solar PV demand is expected to reduce slightly as the government has a lower capacity addition target compared to the last year.

Recently India surpassed the 10 GW solar PV installation milestone, having tripled its capacity in less than three years.

EnergyTrend projects that the nation will add an additional 10 GW this year, while the Indian government expects to add 20 GW over the next 15 months.

A total of 14 GW solar capacity is reportedly under construction or at the design stage in the country, with a large portion expected to be commissioned during this financial year and a further 6 GW is scheduled to be auctioned soon.

India’s government has introduced a series of measures to foster renewable energy development.

Last month, the Central Electricity Regulatory Commission (CERC) announced plans to lower the floor price of solar renewable energy certificates (REC) from 1 April, 2017.

According to plans laid out in India’s latest union budget, almost every railway station in the country will soon be powered by solar energy.

Furthermore, a new report released earlier this year revealed that if the cost of renewable energy and storage continues to fall at current rates, India could phase out coal power completely by 2050 – significantly outperforming its commitments under the Paris Agreement.

India has surpassed the 10 gigawatt (GW) solar photovoltaic (PV) installation milestone, having tripled its capacity in less than three years, according Indian Minister Piyush Goyal.

The Minister of State with Independent Charge for Power, Coal, New & Renewable Energy and Mines made the announcement earlier this month.

The new 45 megawatt (MW) project commissioned at Badhla solar power park in India helped the nation pass the 10 GW milestone.

In May 2014, India’s cumulative solar PV capacity stood at 2.6 GW.

Since then the government has introduced a series of measures to foster renewable energy development.

According to plans laid out in India’s latest union budget, almost every railway station in the country will soon be powered by solar energy.

Under the Paris Agreement, the country has committed to source at least 40% of its electricity from renewables by 2030, including the addition of 175 gigawatts (GW) of renewable energy capacity by 2022.

The country is said to have a further 14 GW of solar projects under construction or soon-to-be developed, with a significant proportion expected to be commissioned during the upcoming financial year.

Minister Piyush Goyal has said that India’s solar power generation capacity would most likely cross 20 GW within the next 15 months.

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