Almost 40% of India’s new energy capacity is solar
The solar industry is becoming increasingly popular as governments are encouraging transitions away from tradition fuels.
In India, 39% of the country’s new energy capacity in created this year was solar power.
They country was supplied with an additional 7,100MW of solar capacity in 2017, with the first quarter suppling almost half of that at just under 3,000MW.
In 2016, India received capacity additions of 4,313MW of solar energy generation, according to the Mercom Capital Group.
In total, the country now has a solar capacity of approximately 14.7GW, as of September this year.
The Narendra government has been pushing for energy to be sourced from renewable energy, with a target set to have a capacity of 175GW by 2022.
“Last year (financial year 2016-17) was a landmark years in the Indian power sector… for the first time, the capacity addition in renewables sector was more than conventional and the same is likely to continue even this year also,” reported Amit Kumar, a partner at PwC.
Coal is also expected to peak in India by 2027, according to the Institute for Energy Economics and Financial Analysis.
It is anticipated that coal will be replaced by renewables, which will account for 27% by 2027.