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Solar industry wishes hike this year

After a year of drop and uncertainties, the Indian solar industry is expecting big growth in the coming year. “India is expected to add approximately 10 GW of solar capacity in 2019, and we expect to see continued strong growth in private power purchase agreements, in both rooftop and large-scale projects,” said one of the member of reputed solar firm.

In 2018, India surpassed 26,000 MW (approximately) of cumulative solar capacity and has emerged as one of the world’s fastest and largest markets for solar PV, providing ample growth opportunity as well. Despite the government’s tendering activity was somewhat uneven, private demand for renewable energy continued to be very consistent which is an inspiring factor for this industry.

According to a Solar report by India’s finest magazine, so far over 26 GW of solar PV capacity has been installed in India, and there is a huge arrears of over 73 GW of solar capacity, to be installed in the next four years to reach the target of 100 GW by 2022.

“2018 was a landmark year, with the solar sector undergoing significant changes, thus paving the way for a transition to renewable energy. It was especially a defining year for domestic manufacturers, who received continued support from the government through the imposition of the Safeguard Duty. This created a level playing field for manufacturers to showcase their capabilities and bring in disruptive R&D,” says the Director of Waree Engineers.

He says that one trend in 2018 was an increase in exports, which will further the growth of solar manufacturing in India and help to establish it as a hub for solar energy with the latest technologies and innovation.

 

With conventional techniques that put us at par with our international counterparts, we believe floating solar, energy storage and flexible modules will prove to be important tools in taking solar energy to the next level. With utility scale energy storage solutions being considered as the next big step and with the rising economies of scale, we can see India heading towards a future of energy security through renewable energy,” he says.

Issues related to tender issuance and auctions, land acquisitions and transmission, lack of co-ordination between various agencies, GST and safeguard duty had caused solar installations to slow down in the July-September period of 2018. Capacity addition in the first half of the financial year 2018-19 was only 1.9 gigawatts, 44 per cent less than the previous year.

 

Source: Business Today

 

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