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Solar PV market crosses 1-GW aided by govt.boost sops to private investments

Company Name : Nepra Environmental Solutions Pvt.Ltd-bansi Source : Chemical Weekly

The Indian solar photovoltaic (PV) market has come of age in the last two to three years, with the market growing from a ten-member sector to a well organized market with more than 30 world-class PV module and cell suppliers. The aggregate module production capacity rose from less than 60-MW in 2005, to more than I GW in 2009, setting India up as a possible major manufacturing hub for the global market.

New analysis from Frost & Sulivan,'India Solar Photovoltaic Market’, finds that the aggregate module production capacity in the market was 972-MW in 2015. According to the study, the market can look forward to large-scale private investments across the PV value chain, feedstock, silicon wafers, PV modules and cells, as well as balance of system components.

"Successive reforms in the power sector and a plethora of policies initiated at the central and state level to control greenhouse gas emissions and promote renewable energy has restored interest in the solar power industry,” says Frost & Sullivan Industry Analyst, Mr.Hemant Nayak."Several private firms are expected to make large investments to avail financial incentives and leverage the cost advantages of solar PV production in India." Impetus to market The Indian Government has added impetus to the market by promoting solar energy to narrow the power deficit in the country.

The Jawaharlal Nehru National Solar Mission (JNNSM) announcement in 2009 is expected to infuse the much-neededcompetitiveness in the domestic market. This program is mainly aimed at the wide-scale deployment of solar farms, roof top-based generation, and rural electrification