India’s energy minister, Piyush Goyal has said the nation’s solar target is to be multiplied to 100GW by 2022.
According to a number of local reports, including Bloomberg and India's Economic Times, Goyal said the current National Solar Mission (JNNSM) target of 20GW by 2022 would be pushed up to 100GW.
The government will work specifically towards grid parity, making solar bankable and the industry self-sufficient.
In August, just after anti-dumping duties in India were ruled out, Goyal told solar developers, manufacturers and stakeholders that the government will provide full support for domestic solar manufacturing. “Renewable power is the future of the country and will be supported fully,” a statement said.
Goyal has previously revealed the government is working on land access to set up utility-scale, and mega-scale solar power projects in the country.
He also urged solar stakeholders to make the solar mission a success and to keep investing in the sector to support prime minister Narendra Modi’s ambitious electricity for all vision.
The announcement follows a report earlier this week that rooftop solar will reach grid parity this year, also reports in September, by Tata Power Solar and analyst Bridge to India that the country could see 145GW of solar capacity by 2024. The companies said a “solar revolution” was inevitable as solar overtook coal on price.
Tobias Engelmeier, director for analyst firm, Bridge to India says: “The rooftop market presents a vast opportunity. The potential in India is easily in excess of 100GW. So far, only a tiny fraction of this opportunity has been tapped. As the economics of electricity will continue to shift in favor of local solar solutions, I am convinced that we will see phenomenal growth in the next five years.”
Just after the new government, led by solar advocate Modi, came into power, President Pranab Mukherjee said focus on energy development would be a priority.
As part of his election campaign, Modi advocated solar power to empower people and mitigate corruption, while warning of the economic dangers of relying on imported coal.
Goyal was appointed straight after Modi’s election win and last week spoke at the India Economic Summit, stating US$150 billion investment from government for renewables deployment and transmission, to combat energy poverty.