With Solar Power installed capacity reaches 5 GW, target of 175GW by 2022 seems to be achievable
Installed Solar power crossed 5,000 MW in January
2016 and is projected to reach the target of 18,000 MW by 2017
India: A meeting was held in
Andhra Pradesh, chaired by Power, Coal Minister New and Renewable Energy
Piyush Goyal and was attended by members of Lok Sabha Bharat Singh, Om Prakash
Yadav, Sushil Kishore Singh, Jayadev Galla and member of the Rajya Sabha
Bashistha Narain Singh to review the progress of implementation of solar
park scheme and also steps taken by the NTPC to reduce emissions and increase
efficiency. To achieve the target of 175 GW, ministry has approved 33
solar parks in 21 states with aggregate capacity of 19,900 MW and SECI has
been made the implementing agency for the same which has released INR
54.93 Cr to respective states out of sanctioned INR 374 Cr.
TechSci
Research depicts that with the Government’s target to achieve 175GW of
electricity production by 2022 through solar, first milestone has been achieved
as installed capacity of solar reaches 5000 MW in January 2016. To support such
a huge target of solar power generation, there is need to have proper supply of
solar equipment’s as well. To meet the target, TechSci Research has projected
the market for Solar Equipment into India considering present manufacturing
capacity along with upcoming and proposed plant.
According
to released report of TechSci
Research, “India Solar Power Equipment Market Forecast &
Opportunities, 2020”, the solar power equipment market in India is projected to
surpass USD 4 billion by 2020. Constantly improving solar equipment
technologies, advanced manufacturing processes for production of hi-tech
equipment and anticipated decline in equipment prices is projected to further
drive the solar equipment market over the next five years.