Friday, February 28, 2014: The solar industry is on much boost, as India is reportedly going to record a growth in solar power capacity by 1000 MW this year, while maintaining the rhythm from 2013. Last year, the solar installations totalled up to 1,004 MW, said a report from the consultancy firm Mercom Capital Group Llc.
The Hindu Business Line reported that the solar pace of the country was not much, since the yearly targets did not see any evident rise. In 2012, India recorded a growth of 986 MW in solar power capacity and only raised to 1,004 MW in 2014. There was little growth in installations year-on-year, marked the report.
Raj Prabhu, the CEO and co-founder of Mercom Capital Group said, “It’s time for developers to go directly to consumers. There is a large power-starved market waiting to be served that looks better as diesel prices keep climbing,” in the same report.
However, it is to be noted that there is not much likelihood of the projects under the Jawaharlal Nehru National Solar Mission (JNNSM), to come up until mid-2015. The mission was launched in 2010 by the Government of India to promote renewable energy generation. It aimed to address the country’s energy security challenges.
Most projects have stalled, while the state policies are maintaining to build many projects. Moreover, India has been in a trade dispute US, with the recent second complaint filed in the World Trade Organization (WTO) over domestic content requirement in India’s solar programme.
