Tuesday, August 27, 2013: In the month of July 2013, total installations of solar photovoltaic (PV) in India accounted for 79.6 MW as per nation’s Ministry of New and Renewable Energy (MNRE). This figure exceeds installations that were made in the last three months taken together. India installed 70,000 square meters of solar thermal systems in the month of July.
In the year 2012, Indian PV market was relatively better with nearly 1 GW installed compared to the first months of the present fiscal year 2013-14, starting from 1st of April, 2013.
According to Mercom Capital (Austin, Texas, U.S.), Indian PV as well as concentrating solar power (installations) will amount to 1 GW in fiscal yaer 2013-14, showing flat growth over the previous year.
The main factors that explain the growth of PV market in India are feasible geographic location of India, decrease in prices of PV modules, depleting coal reserves, energy deficiency scenario in India, falling solar power rates, rising cost of electricity from conventional sources and the time of commissioning of PV projects.
India’s National Solar Mission (NSM) envisages to establish India as a global leader in solar energy with the help of favourable ‘policy conditions.’ PV is set to make a positive impact on India’s energy portfolio in the coming future.
