Study says solar sector seen adding 10 GW this year

A latest report by Mercom Capital Group, a global clean energy communications and consulting firm, has said new solar capacity addition in India is expected at over 10 GW during the calendar year 2017.

“The Indian solar sector is witnessing a strong growth with cumulative installations reaching approximately 12.8 GW at the end of Q1 2017. Utility-scale projects account for about 12 GW, while rooftop installations accounted for almost 850 MW of the installed capacity,” it said.

The report prediccted 2017 installations to reach about 10 GW, about 130 percent increase year-over-year compared with 4.3 GW installed last year as India becomes one of the top solar markets in the world after China and the United States.

According to Raj Prabhu, CEO and Co-Founder of Mercom Capital Group, “Solar in India has come a long way and 2017 is expected to be the best year by far. Rapidly falling tariffs have resulted in solar closing in on parity with coal in recent auctions, which is expected to increase demand in the future.”

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Research Desk

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