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After sunny days, solar biz struggles to maintain growth
India’s solar sector, one of the top three markets globally, witnessed a slowdown in growth of installations during the current year as it struggled, on the back of policy and execution challenges, to sustain the spectacular rise it had experienced in the last four years, experts said.
By
migrator
migrator
Kolkata
“We expect 2018 to end with total solar installation of about 8.2 gigawatt (GW). This capacity includes 1.5 GW of rooftop solar. Compared to the Ministry of New and Renewable Energy’s (MNRE) annual target of 16 GW for the current fiscal, we are really far below the expected rate,” Vinay Rustagi, MD, consulting firm Bridge To India, said.
Total solar capacity reached 27.4 GW by the end of September, including 23.2 GW utility scale solar, 3.4 GW rooftop solar and 0.8 GW off-grid solar. “The solar market has grown over last four years but was struggling to sustain because of policy challenges,” he said.
India has installed only 26 per cent of 100 GW solar installation target set for 2022 and of this, large-scale projects accounted for approximately 89 per cent and rooftop installation made up about 11 percent, said Raj Prabhu, CEO of consulting firm Mercom Capital Group.
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