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India Solar Market Could Hit 33.4 GW by 2022

 

solar panels india

As mentioned in my 2012 solar energy expectations yesterday, I think India’s got a good chance of shooting onto the solar power map this year. Following up on solar in India, a recent report by Bridge to India estimates that the country will have 33.4 gigawatts (GW) of solar power installed by 2022, far more than the 20 GW that are targeted by India’s National Solar Mission (NSM).

The report projects that 14.15 GW will already be on the ground in 2018, and it also projects that solar will hit grid parity in India at that time, which would make it a far more attractive energy option for those who care only about the market price of solar (not the health, environmental, and energy insecurity costs of relying on fossil fuels).

The report projects that a combination of economies of scale and technological improvements will continue to bring solar’s costs down in the coming few years.

However, the report notes that there currently isn’t enough government support for small or off-grid solar power applications. Government subsides too heavily focus on utility-scale solar PV projects.

“40 percent of the population does not have access to the grid,” says Kadampat Punnan Philip, manager of the Indian Renewable Energy Development Agency (IREDA). “But even the villages connected to the grid can benefit from solar power because the Indian grid is so unreliable.”

Note that solar power is cheaper than diesel in India now (according to reports last month) and some industry insiders are projecting solar costs in India will drop 40% by 2015.

Solar panels in India by fredericknoronha

 
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Zach is tryin' to help society help itself one word at a time. He spends most of his time here on CleanTechnica as its director, chief editor, and CEO. Zach is recognized globally as an electric vehicle, solar energy, and energy storage expert. He has presented about cleantech at conferences in India, the UAE, Ukraine, Poland, Germany, the Netherlands, the USA, Canada, and Curaçao. Zach has long-term investments in Tesla [TSLA], NIO [NIO], Xpeng [XPEV], Ford [F], ChargePoint [CHPT], Amazon [AMZN], Piedmont Lithium [PLL], Lithium Americas [LAC], Albemarle Corporation [ALB], Nouveau Monde Graphite [NMGRF], Talon Metals [TLOFF], Arclight Clean Transition Corp [ACTC], and Starbucks [SBUX]. But he does not offer (explicitly or implicitly) investment advice of any sort.

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