India Forecast As World’s Third Largest Solar PV Market In 2017

Analyst’s report reveals that India now has more than 10 GW of utility-scale, rooftop and off-grid solar PV installed nationwide, with the sector growing 137% this year alone. India on course to be world’s third largest solar market in 2017.

New analysis by Bridge to India (BTI) projects India to edge out Japan to become the third-largest solar market in the world next year, building upon strong 2016 that saw the sector grow 137% in a year.

The latest report by BTI puts the nation’s cumulative solar capacity above 10 GW, taking into account all forms of installed solar – including rooftop and off-grid. This year will end with 5.1 GW of new capacity added, with an annual average capacity of between 8-10 GW from 2017 onwards.

India-and-solar-energy

Driving this surge is the government’s ambitious National Solar Mission, which has targeted the installation of 100 GW of capacity by 2022, as well as tumbling solar prices, which recently dipped below $0.06/kWh in the latest large-scale tender.

Vinay Rustagi, BTI’s MD, commented that the most obvious question on the lips of Indian solar observers will now be: can the country hit its 100 GW in the next five years?

“It is a very steep target in our view,” Rustagi said. “But rather than quibble about the target, the important point is to acknowledge the transformational economic, environmental and social potential of solar technology and to create a conducive environment for its growth.

Read more: 

If you want to know more about this and other topics directly from end users of energy storage technologies join us at one of these annual events: The Energy Storage World Forum (Grid Scale Applications), or The Residential Energy Storage Forum, or one of our Training Courses.

LATEST ARTICLES

Product Development: Embracing product safety and compliance

PRODUCT DEVELOPMENT: EMBRACING PRODUCT SAFETY AND COMPLIANCE Recent safety incidents on storage plants have raised concerns about the fire safety of battery storage systems. Such events are extremely rare compared to the cumulated global deployments of energy storage systems, which have reached more than 27 GWh by end of 2020 (Wood Mackenzie 2021). However, for…

Read More

Annual Installed Capacity Significantly Increases

While the global market was under the haze of the epidemic and many countries were still in lockdown, the energy storage market showed extremely strong resilience and began to recover and grow since Q3 and Q4 of 2020. According to the BloombergNEF report, the global energy storage market in 2020 has developed faster than expected,…

Read More

When Global Green Economy Met Energy Storage

Our energy system is dynamically evolving. The realization of the urgency towards Net Zero, Green economies has been more pressing than ever. The energy transformation serving a more sustainable future, safeguarding our ecosystem and protecting our planet is of paramount importance for many developed and developing nations across the globe. In this analysis, we delve…

Read More

★REVIEWS

“Probably the most interactive and well organized storage event on the calendar.”

★★★★★

Sales Director, S&C

“Great topics, competent speakers, good networking: keep it like that.”

★★★★★

TLC & SCADA Manager, FRI-EL

“High scientific content, well targeted, perfect organization.”

★★★★★

Expert Technical & Governance, Elia

Excellent networking event. The sponsorship was well worth it.”

★★★★★

Manager, ATL

View More

x