The Indian solar energy market is rising at lightning fast speed, but lack of standardization, a disorganized market and lack of customer awareness are major challenges facing the industry, said Ajay Singh, Founder & President of Nimray-Solar, in an exclusive interview with SME Times.
Excerpts of the interview…
Brief us about Indian Solar Energy market. What are the challenges of Indian Solar market?
Ajay Singh: In Just 90 minutes, enough sunlight strikes the earth to provide the entire planet’s energy needs for one year. While solar energy is abundant, it represents a tiny fraction of the world’s current energy mix. 300 days of sun and still 24X7 electricity is a dream for many. Earth has been receiving trillions of units of energy every day from morning to evening but we’ve never been able to use it.
Indian solar energy market is very vast and rising at lightning fast speed, India’s solar market expected to grow by 90% in 2017. Solar power in India is a growing industry. As of November 2017, the country’s solar grid had a cumulative capacity of 12.29 GW.
India quadrupled its solar-generation capacity from 2,650 MW on 26 May 2014 to 12,289 MW on 31 March 2017. The country added 3.01 GW of solar capacity in 2015-2016 and 5.525 GW in 2016-2017, the highest of any year, with the average current price of solar electricity dropping to 18% below the average price of its coal-fired counterpart. Read More…
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