Kolkata: The domestic solar power capacity addition is expected to be nearly 7-7.5 GW (including around 1 GW of rooftop solar capacity) in FY2020, based on tendering and awards of projects in the last 12-15 months. Interestingly, solar capacity addition is estimated to have remained subdued at around 6-6.5 GW in FY2019 because of weak trend in award of solar projects in CY 2017, the latest study by ICRA on the sector, suggested.
Significantly, another recent study by Mercom Capital Group, suggested that India’s total renewable energy installations stand at around 75 GW, of which wind energy accounts for more than 35 GW, followed by solar energy, which has witnessed exponential growth with its total installation capacity increasing from 3 GW to about 30 GW in the last five years. India is also a very price sensitive market where the lowest tariff matters more than any other criteria. Most of the renewable growth has been fueled by the import of cheaper components such as solar cells and modules, textured tempered coated and uncoated solar glass, Ethylene Vinyl Acetate (EVA) sheets, and others, said the Mercom study.
