Around this time last year, India announced its ambitious target to install 100 GW of solar by 2022 (refer). This target was then officially adopted by the Indian cabinet in June 2015 (refer). It is a good time to take stock and assess progress towards this target.
- Investment appetite, particularly from international investors, in the sector has increased substantially
- There has been considerable activity on operational front including policy formulation, project tenders and solar park development combined with rapid fall in the cost of solar power. But intense competition raises doubts on sustainability of new found price points
- Distributed solar still lagging as there is relatively lower policy support and market momentum behind it