Hon’ble Prime Minister of India, Shri Narendra Modi’s setting the solar energy target to 100 GW by 2022 has given Indian solar industry the leg up it needed, leading to current 13 GW capacity. India has, practically, doubled its solar capacity from 5 GW in 2015 to 10 GW in 2016. And, the country is estimated to add approximately 8 GW at the end of 2017. The growth trajectory is incredible indeed, and India is on its way to become the third largest solar market!
India has shown a remarkable performance in the growth of the solar sector and has received global acclamation in the same. Be it setting up of the International Solar Alliance with France or playing a pivotal role during the negotiations at COP 21 at Paris, the Indian government is leading the global fight against climate change. India had taken a very calculated decision to increase the share of renewable energy in its electricity mix. Under the National Action Plan for Climate Change, a target of 20 GW of solar installations was announced in the year 2010 which was later revamped to 100 GW of solar and 75GW of other renewable energy sources by the year 2022. From less than 10 MW by the FY 2010, the country has seen an impressive growth to achieve a cumulative growth of 10 GW by the FY 2017.
2016 has been a progressive year for Indian solar industry. The leap from 5 GW in 2015 to around 9 GW grid-connected solar capacity was an incredible growth indeed. Rooftop segment has also flourished with the support of Government and rising awareness in the country, surpassing the 1 GW mark, achieving 113 percent growth rate in the last 12 months. The idea of solar park installations has also seen improvement with the Government approving 34 solar parks in 21 states. Although these indicators are pointing towards progress, it is important that we try to evaluate if the current growth rate can translate into success by reaching the 100 GW mark by 2022.
The primary idea powering the Indian solar vision was energy sustainability and initiating internal industrial growth to control the nation’s own solar future. Approaching investors, drafting policies, and getting multi-billion-dollar financial aid to install solar panels in the country are obviously increasing the energy generation rate, which stands today at 8.06 GW. But, it doesn’t actually build industrial infrastructure required to claim a portion of global solar market or to provide sustainability.