India poised to overtake Japan as No.3 solar PV market in 2017
By the end of 2017, India’s solar power capacity is expected to touch 18.7 GW, which will be about five per cent of global solar capacity, growing by 89 per cent over last year.
As of March 2017, India had installed 12.2 GW of utility scale solar capacity.
“Indian solar market has grown by an average 72 per cent in the last three years and is now worth about 8-9 GW per annum,” said Vinay Rustagi, Managing Director, Bridge to India.
“Growing market size and strong government commitment to the sector have attracted the world’s leading private sector players as well as resulted in lower tariffs for consumers,” he added.