India likely to be among top solar markets in 3 years: Research firm Bridge to India
NEW DELHI: India could become one of the largest solar markets in the world in the next three years, but potential problems with financing, transmission and land acquisition could trip up the government’s solar plan, according to consulting and research firm Bridge to India.
In November, Prime Minister Narendra Modi set a target of 100 GW of solar generation capacity by 2022, a nearly 33-fold increase from the current capacity. This would include 60 GW of utility scale projects and 40 GW of rooftop and other small grid-connected projects.
“But the biggest challenge will be the enforcement of RPOs (renewable purchase obligation) and the poor bankability of India’s distribution companies,” Bridge to India said in its “India Solar Handbook, 2015”, which is set for releases at Intersolar Munich on June 9.
The report, however, said the measures introduced by the government, including improving availability of debt financing and net metering policies, may not be sufficient to achieve the 40-GW rooftop solar target.
“Rooftop solar has been relatively lackluster in India, with no clear policy thrust so far and only about 350 MW of rooftop solar being installed (less than 10% of total solar capacity),” it said.