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India’s solar sector poised for good growth: Report

According to reports, the country’s solar sector is expected to see good growth in coming years, helped by rising energy demand and various other factors, says a report.

A right framework is required to tap the potential, the report by consulting firm Tata Strategic Management Group said.

The solar sector is facing many challenges, including lack of consistency in solar policy, it said.

“… rising energy demand, increasing coal prices, increasing diesel prices and with grave energy security concerns Indian solar sector is poised to grow rapidly in the next five years,” it said.

India has more than 2,600 MW of installed solar generation capacity.

“The need of the hour is to focus on value added product and services, build R&D and testing facilities and develop trained manpower to support the growth of solar sector in India,” the report said.

Noting that domestic solar sector is undergoing a transformation, the report emphasised the need for having coordinated participation of stakeholders as well as right set of guidelines to tap the potential.

“Going forward, new government is expected to work towards investor and industry friendly solar sector policies. This would definitely boost the growth of solar industry in India,” it added.

Manish Panchal, Practice Head – Chemical & Energy – at Tata Strategic Management Group said that solar being a sunrise sector, it requires coordinated participation of all the key stakeholders especially the regulators to develop the right framework for growth.

The government in 2010 launched the Jawaharlal Nehru National Solar Mission with the aim of adding 20,000 MW grid-connected generation capacity by 2022.

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