India is a vast country with huge population, where most of the population lives in rural areas with many un-electrified villages and others facing frequent and prolonged power failures on regular basis. The high average solar irradiance of \(5 KWhr/m^2/day\) to \(5.5 KWhr/m^2/day\) is offering a huge opportunity for solar energy sector to flourish and eradicate the acute problem of power shortage of India.
India has achieved 3 GW of solar PV installation in the year ending 2014. Gujarat, Rajasthan, Madhya Pradesh, Maharashtra and Andhra Pradesh are the top 5 states which contribute more than 85% of the total solar PV capacity installed in the country. The government policies have been the main reason for the growth in the solar energy sector.
The average annual growth rate comes out (186.3 % + 161.4% + 149.1%)/3 = 165.6%.
The Solar Photo-voltaics (PV) Growth
Factors propelling the growth of solar PV in India
Incentives and Tax benefits
The road ahead
It is very much possible for India to achieve its solar energy targets through strict implementation of the policies, providing decentralized regulatory mechanism and easy availability of finance for the solar projects.