Solar power sector in India is witnessing exponential growth majorly driven by the government’s favourable policies. For the first time in India, solar power made over 50 per cent power capacity addition in 2018. According to data compiled by the Central Electricity Authority (CEA), solar power generation in the fourth quarter (Q4) of CY 2018 increased by 48 per cent year-over-year (YoY) to 9,672 million units (MUs) compared to Q4 2017 when approximately 6,523 MUs were generated by solar projects. Rooftop solar also had an impressive year in 2018 as it has witnessed 66 per cent YoY growth thanks to the policies which include subsidies and net metering. Further, solar installation is expected to rise 360 per cent by 2020 as the country is committed to achieve 100 GW of solar energy capacity by 2022.
Solar energy’s overall contribution to the power grid is increasing like never before. Total power capacity additions in India stood at 16.3 GW in 2018 from all sources. Of this, solar representing 50.7 per cent whereas new addition of coal-based capacity is accounted for 27.5 percent. This shows the country’s commitments towards green and clean energy.
However, the safeguard duty and issues related to land, transmission and GST created major roadblocks to large-scale installations in 2018. According to a report by Mercom India Research, Solar capacity addition in India last year came down by 15.5 per cent to 8,263 MW as compared to 2017 due to safeguard duty and issues related to GST and transmission.
Coming April, Mumbai will open its doors for Intersolar India 2019 – one of the largest shows on solar energy business. Taking place during 4-5 April, the show will bring together the key players in the solar and allied industries from across the globe to showcase their latest technologies and innovations. Electrical India, being the media partner, will be present at this event.
We look forward to see you there. Till then, happy reading.