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India may not meet its 100 GW solar target by 2022 - WoodMac

Power News - Published on Mon, 11 Feb 2019

Image Source: Moneycontrol
In spite of a sizeable increase in India’s solar generation capacity, the country might still not be able to meet the 100 gigawatt (GW) solar target by 2022, Mr Rishab Shreshta, solar analyst at research and consultancy firm Wood Mackenzie said that "As bid prices stabilise and costs continue to drop, long-term development remains positive but still not sufficient to meet the 100-GW solar target by 2022. India faces short-term uncertainty due to the imposing of various taxes and levies on solar products, the cancellation of tenders and tariff renegotiations.”

Mr Shreshta added that India’s grid-connected power generation capacity increased 4 per cent in the January to October period in 2018 to reach about 347 GW -- 13 GW more as compared to the corresponding period last year.

The research firm added that "Renewables accounted for 9.7 GW of the total increase of 13 GW, highlighting the significant investment flowing into the sector. India is and will be the third-largest solar market globally in 2018 and 2019, respectively.”

It added that the year-on-year growth rate of annual solar installed capacity is expected to reduce to over one per cent in 2018, from 63 per cent in 2017, and expected to rebound to over 12 per cent in 2019.

Mr Shreshta further said that “Despite strong domestic demand and safeguard duties on imported solar modules, domestic solar manufacturers still struggle to compete with foreign suppliers.”

According to WoodMac, the 7.2 per cent annual growth in grid-connected power demand helped improve the capacity factor for all fuels in 2018.

Source :

Posted By : Rabi Wangkhem on Mon, 11 Feb 2019
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