Global installations of solar panels fell in 2018 for the first time. However, it is anticipated
that the industry will see a noteworthy boom this year, surpassing 100 gigawatts (GWs), with
more diversity and reasonable cost projects.
2019 has already started showing positive signs for the solar market. Many countries have
already seen policy clarity, solar-plus-storage and India has shown bold plans for the world’s
largest single-site PV projects, as witnessed in “Global solar PV markets: Top 10 Trends to
Watch in 2019.”
India is all set to set a record for 2019. New installations in this year calendar will reach
nearly 14 gigawatts(GW), which is almost 50% more than the capacity that was added last
year, according to a report released on January 09 by a Gurgaon – based renewable energy
consultancy firm – Bridge to India.
With the initiatives been taken by India in new capacity addition, its installed solar capacity
is estimated to rise and reach around 38 GW by the year-end. Due to the large scale solar
projects, the country is likely to add about 16 GW of clean energy capacity in 2019.
Under the Paris climate agreement, renewable sources must account for up to 40% of
power generation capacity by 2030. In order to meet this goal set for the development of
the country, Prime Minister Narendra Modi’s government has set a target of building 100
GW of solar capacity by 2022.
The central and state government have been working jointly towards this goal, by
auctioning tenders to build large-scale projects, whose main customers will be state-owned
power distribution companies. These projects take a minimum of two years to get
commissioned, which in turn confirms the addition of new capacity, said Bridge to India
analyst and the report lead author.
The primary reason for the fall of the addition of new capacity (in 2018) was due to lower
tender activity in the last couple of years. In order to resolve this issue, heavy tendering
activity was carried out in late 2017 and early 2018, due to which there is a projected rise in
additions this year.
The second half of 2018 saw a fall in the government tenders activity, which picked itself up
in December as India’s ministry of new and renewable energy announced its plan to
issue tenders for 60 GW by March 2020.
While large-scale projects are adding to the country’s goal, installation of rooftop solar
panels are playing its part well and are on a constant rise.
Indian households stay away from rooftop solar panels till now, due to high price. However,
commercial and industrial have switched over to solar panels, after realizing that it works in
their economic favor.
India is moving towards a more renewable future with the help of solar panels. With the set
goals, India will soon be able to lower down its cost of electricity, helping the individual and
the environment at the same time.