The Bull Case for Solar in India
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August 21, 2015Solar is currently booming in India
The solar market is gradually maturing in India, with installations seen across different states. Not only are western companies investing and expanding in India, the Indians are also trying to close the gap between target of 100 GW set to be achieved by 2022. A lot has been happening in our country in the field of solar installation and development. India has a lot of scope in solar and is thus seeing advancements across different sectors and states. Major events that took place in this week in India suggest that the Indian Solar market is booming.
The Adani Group is in talks Softbank and Foxconn of Japan for a $3 billion investment in a project to make solar cells and panels in India.
Like many other international companies increasing their footprints in India, Hareon Solar Technology a Chinese solar company in association with two others have formed a joint venture in India. This JV will build 32 MW solar parks in the country.
The Indian state of Madhya Pradesh will launch net metering to boost solar power use. Net metering gives advantage to the customers, who can sell the excess electricity generated from their solar set up to the grid and receive energy credit in their electricity bills. The Indian states of Tamil Nadu, West Bengal, Karnataka, Andhra Pradesh, Rajasthan, Punjab and Uttarakhand have adopted net metering till date. This would mean a big thing especially for the industrial and commercial establishments in the state.
Indian airports are getting solarized too. The southern state of Kerala will have world’s first ever fully solar-powered airport. Other airports in India are also thinking of incorporating solar power. The Kolkata airport is all set to install rooftop solar panels to generate 2 MW electricity by March 2016. The ministry of renewable energy has set a target of 50 MW of solar for airports by the end of this financial year.
A lot is happening in India. Let us be a part of this revolution. Please share with us your solar stories/ experiences in Your Solar Experience.