Power generation through renewable energy sources is gaining popularity and the countries across the globe are deploying various techniques to generate and utilize power generated from solar, wind and other renewable sources. According to Mercom India’s prediction, solar power plants in India will reach a capacity of around 10 Gigawatts as it is expected to become one of the renowned solar markets around the globe after United States and China.
Propelled by the decline in China’s demand, the renewable energy sector is expecting a slight fall in the module prices in the second quarter and a significant drop in the prices in the second half of the year. Currently, the installed capacity of domestic modules and cells is expected to be around 8.4 Gigawatts and 3 Gigawatts respectively, whereas the operational capacity of solar modules and cells is around 6.6 Gigawatts and 1.5 Gigawatts respectively.
With the total solar plant installations reaching around 12.8 Gigawatts by the end of the first quarter in 2017, India definitely sees a boom in the solar power sector.
Currently, utility-scale projects in India account for approximately 12 Gigawatts and roof top installations provide around 850 Megawatts of installed capacity.
Approximately 12.6 Giga Watts capacity of power is in pipeline from the utility scale projects, while around 6.1 GW worth capacity of power tenders are still awaiting to be auctioned.
A lot of tendered and under-development projects are in pipeline under the NSM program in various batches and phases in India, followed by projects in Karnataka, Madhya Pradesh and Telangana, which are led by state policies.
So far, around 2.6 Giga Watts of solar projects have been commissioned under different phases on the policy front. These projects are scattered around various states like Karnataka, Uttar Pradesh, Rajasthan, Andhra Pradesh and Telangana.
Under JNNSM Phase II Batch 5, SECI targets approximately 1000 Megawatts capacity of power grid for government organizations and public sector undertakings’ third party sale, merchant sale or self-use.
Chinese module prices in India have continued to reduce with an average cost of selling price dropping to Rs. 20.68 per watt in the first quarter of the year 2017. The recent low bids of Rs.3.30 and Rs.3.15 per unit in Kadapa have resulted from the drop in the Chinese module prices, which have dropped by almost thirty three percent in the last one year.