Solar Photo Voltaic (solar PV) is
the fastest growing among all renewable energy sources in the world. It reached to 177 gigawatts (GW) by the end
of 2014 and meets 1% electricity demand of the world. Several researches has
claimed that Solar PV would be able cater 20% electricity demand of world by
2050. Solar PV added 40 GW in the year
2014 and China, Japan and United States accounted for major contribution. Solar
PV market increased due to rapid reduction in cost of PV. Some countries have achieved grid parity owing
to rapid falling cost of PV.
India launched Jawaharlal Nehru
National Solar Mission in July, 2009 under the National Action for Climate
Change for development of solar energy in India, having ambitious target of 20 GW
for solar projects including rooftop by 2022. Installed capacity of solar projects in India
was 2,632 MW by March 2014 MW and 3743 MW by March 2015. In January 2015, the Indian Government has revised target to 100
GW by 2022 i.e. 5 times. Recently, Ministry of New and Renewable Energy
(MNRE) has decided the year wise targets for achieving 100 GW by 2022. This
100GW was divided in two categories; land based 60 GW and rooftop 40GW. The capacity addition target for year 2015-16
is 2,000 MW, 12,000 MW in 2016-17 and increasing to 17,500 MW by 2021-22.
Fixing of above targets by Ministry of New and Renewable Energy shows
that the Government is keen to develop solar PV in India at faster rate. A
positive wave has surged in Indian solar industry and boosted the morale of
complete solar industry with the Government initiatives. Also, the investors from worldwide
are looking forward for business in solar sector in India. Decisively, our country would be global
leader in solar energy sector.
