Investment in the global energy transition totaled US$1.1 trillion in 2022 according to analyst firm BloombergNEF, reaching parity with investment in fossil fuels for the first time ever.
Indian solar module manufacturing capacity is forecast to reach around 95GW – up from 39GW at the end of September 2022 – according to research from analyst and consultancy Mercom India Research.
As reports come in predicting stunted growth for Indian solar in 2023, PV Tech Premium spoke to Vinay Rustagi, managing director of Bridge To India, about the obstacles facing the sector in the next year and the prospect of light at the end of the tunnel.
With a recent wave of policies and renewable reforms, investments are set to be boosted in India with solar-wind hybrid projects and corporate power purchase agreements among key trends.
Solar equipment manufacturer SC Solar has signed a 5.2GW heterojunction module automation production line supply agreement with Indian conglomerate Reliance Industries.
Despite the headwinds impacting module supply and solar deployment, India’s solar market is expected to emerge from a slow 2023 with significant growth and feel the benefit of the country’s protectionist domestic manufacturing policies.
India has undershot its 2022 renewable energy target by 30% amidst solar module supply shortages, according to research by renewables consultancy Bridge To India.
The renewable energy subsidiary of Indian integrated power company Tata Power has announced plans to develop a 255MW hybrid solar and wind project in the state of Karnataka, India.
