India's solar market could grow by 90 percent in 2017, expects Bridge to India
Post date: 08/01/2017 - 10:45
India started the year 2017 with a pipeline of around 14 GW of utility scale projects, out of which 7.7 GW is expected to be commissioned in the year – a growth of around 90 percent over 2016, says Indian consultancy Bridge to India. Rooftop solar will also continue its growth. The company expect around 1.1 GW of rooftop solar capacity to be added in 2017, up 75% from 2016, driven by capital subsidies and substantial demand from public sector.
Notwithstanding the implementation of Goods and Services Tax (GST) during the year will lead to marginal cost increases and may create uncertainty for developers and contractors although there is a widespread expectation that any adverse impact will be passed through to the distribution companies, says Bridge to India. Solar tariffs are expected to fall below the critical INR 4.00 ($0.06) per kWh mark making solar power the cheapest new source of power.
Overall, the company forecasts new installed solar capacity reaching around 8.8 GW in 2017 and a total installed capacity of 18 GW by the end of 2017.