Indian solar market to reach 9 GW by 2016
Over the next five years, India will become an anchor of global solar demand, installing more than 9 GW between 2011 and 2016, according to GTM Research.
The market’s gigawatt-scale emergence will be spurred by the maturing National Solar Mission (NSM) and a collection of state-level incentives, as well as an influx of expertise from global solar players entering India.
At year-end 2010, India claimed just 54 MW of installed grid-connected solar. However, recent feed-in tariffs (FIT) allocations from the NSM and the state of Gujarat’s Solar Policy promise to increase that installed capacity six-fold to approximately 365 MW by the end of 2011 and, to over 1,100 MW by 2012.
“Financing is the number one concern for anyone developing solar in India,” said Shayle Kann, Managing Director of Solar at GTM Research. “To ease that pressure and eventually realize the market’s potential, we expect to see the competitive landscape evolve dramatically via strategic partnerships and joint ventures.”