Independent report confirms growth of Indian solar industry

Facebook
Twitter
LinkedIn
Reddit
Email

As Phase 1 of India’s National Solar Mission reaches half way, India stops to take stock of its progress with an independent report conducted by the National Resources Defence Council (NRDC) and the Council on Energy, Environment and Water (CEEQ). The report has been drawn from extensive discussions with stakeholders and research and analysis of national, state and international programs, with the aim of aiding the government in overcoming obstacles to achieving the Mission’s goal of 20GW by 2022.

The report includes:

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Encourage financing: To bolster confidence among financiers and overcome high interest rates in India, the Indian government should diligently enforce Renewables Purchase Obligations, support further development of the Renewable Energy Certificate (REC) market, and share additional information on the Payment Security Mechanism, which covers potential defaults on payments. The Reserve Bank of India and the Finance Ministry should work with the Ministry of New and Renewable Energy (MNRE) to support solar energy investment, and the private sector should lead by syndicating loans and sharing experiences in India’s solar market.

Boost domestic manufacturing: India’s domestic content requirement (DCR), which was intended to nurture domestic manufacturing for silicon PV technology, has instead shifted the market toward thin-film PV, which does not fall under domestic manufacturing mandates and can therefore be imported at a lower cost. The Indian government should consider modifying the domestic content requirement to apply uniformly across all PV technologies or a percentage of PV components, as well as, adopting a different incentive to promote domestic manufacturing without restricting foreign imports. Simultaneously, manufacturers should strengthen existing networks to develop policy solutions that would ease barriers to manufacturing in India.

Create a conducive environment: The Indian government urgently needs to increase the information available on the Mission’s progress, by demanding solar projects give periodic updates on their progress, to building confidence among investors with more transparency around technologies and commissioning processes. The central government should also work closely with state governments to facilitate land allocation for solar projects. The solar industry should create a network of solar energy groups, focused on resolving common industry concerns and interacting with government agencies to develop solutions for the entire supply chain.

“As the world’s second-fastest growing economy, India has sparked a powerful solar market in only two years,” said Anjali Jaiswal, senior attorney for the Natural Resources Defence Council’s India Initiative. “While the National Solar Mission still faces significant hurdles, India has already made important strides to attract new domestic and international players into the market, and lower the price of solar energy faster than most anticipated.”
 
“As nations race to become clean energy leaders, governments around the world will be closely following the progress of India’s National Solar Mission,” said Dr. Arunabha Ghosh, CEO for the Council on Energy, Environment and Water. “It’s essential that the Indian government adapt its strategies under Phase 2 of the Mission to boost confidence in projects and spur investment from a variety of funding sources and financial institutions.”
 
The full report and fact sheet can be found online here.

Read Next

September 10, 2025
The CEFC has said that a coordinated approach to transmission in Pilbara, Western Australia, could save more than AU$30 billion over 25 years.
September 9, 2025
Iberdrola has signed a 77MW power purchase agreement (PPA) with Italian grocery retail group Selex Gruppo Commerciale.
September 9, 2025
Nautilus and Summit Ridge Energy secured major financing deals to expand community solar projects across multiple US states.
September 9, 2025
The US is forecast to reach between US$55-60 billion in clean energy tax credit monetisation in 2025, according to a report from clean energy financing technology platform Crux.
September 9, 2025
The average price of solar modules sold in Europe fell marginally between July and August, while buyers’ confidence remained steady.
September 9, 2025
The US Solar Energy Industries Association (SEIA) has released a policy blueprint which it claims would “strengthen the reliability of America’s electric grid with solar and storage technologies.”

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines