Trends in Indian Solar industry

trends-indian-solar

Solar Rooftop

  • —Raising power tariffs to drive more installations
  • —Tax benefits (40% AD) to improve Rooftop viability
  • —CSR/ Sustainability  targets to boost adoption
  • —Requires local presence
  • MNRE target – 100 GW by 2022;
    40 GW – Rooftop, 40 GW – utility scale, 20 GW – Residential / Pumps
  • Most of the capacity coming
    in utility scale while Rooftop is fast catching up
  • Residential / Solar pumps
    market still at nascent stage & government driven

Utility Scale Solar

  • —JNNSM and state bids
  • —Solar parks for industrial and commercial clients
  • —Land and grid availability issues to come in future
  • —Reducing tariffs bringing down attractiveness

 

Residential Solar—

  • Mostly home lighting systems
  • —Low grid tariffs –> delayed adoption for solar
  • —Power cuts mandating battery  backup based solar systems
  • —Unavailability of finance
  • —Tax benefits needed to improve viability
  •  Solar is now cheaper to grid power
    for commercial / Industrial clients in most states
  • Solar Generation Obligation (SGO),
    Solar Purchase Obligation
    (SPO) being considered
  • Solar projects given Priority
    sector lending status

 

Solar Pumps

  • —Massive opportunity to replace costly  DG pump sets in immediate term
  • —Most of the installations are government sponsored
  • —Free power and lack of affordability continue to be a hindrance for solar pumps
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