India achieves 20 GW solar capacity goal four years ahead of deadline

 BusinessToday.in   New Delhi     Last Updated: January 31, 2018  | 17:43 IST
India achieves 20 GW solar capacity goal four years ahead of deadline

In what appears to be a giant step for India towards solar energy, the country has achieved its target that was set for 2022, four years in advance. Latest data show that India has already achieved its solar capacity target of 20 GW in 2018. This comes after a strong push by the Modi government towards solar power. In fact, after PM Modi came to power, he increased the power capacity target for 2022 to 100 GW.

The latest data by Mercom India, a clean energy market tracker, mentioned that India achieved this goal in cumulative solar installations. The states leading in solar installations are Telangana, Karnataka, Rajasthan and Andhra Pradesh. According to Mercom's report, utility-scale cumulative installations account for 18.4 GW, while rooftop solar installations account for rest of the 1.6 GW.

In the calendar year 2017 alone, installations reached up to 9.6 GW, that is 45 per cent of the total additions.

The report also clarifies that while it might seem like an achievement, the country took eight years to install 20 GW. There will be further hurdles in meeting the new target as several protectionist government policies appear poised to increase costs and uncertainty, the report mentions.

The new target is set to be achieved with 60 GW of large and medium scale solar projects, and 40 GW will be dedicated to rooftop solar projects. 

"Private solar companies in India have gained vital experience over the years and are looking for the government to create an environment conducive for growth and remove the policy uncertainties that are currently plaguing the industry," Raj Prabhu, CEO of Mercom Capital Group said.

 

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