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India to ramp up solar capacity by 58,000 Mw in next 5 years, says CRISIL

Last Updated on August 20, 2018 by Admin

CRISIL is expecting robust solar allocation from Government to ramp up to 56-58 GW between fiscals 2019 and 2023, compared with 20 GW between fiscals 2014 and 2018.

This will be driven by capacities allocated/tendered under the National Solar Mission, state solar policies, other schemes driven by SECI (ISTS, winsolarhybrid etc.) and PSUs. Additionally, even though 7-8 GW of capacity additions are expected under solar rooftop over the same period, the pace of growth for the sector is going to fall behind the overall target set for it.

According to recent report published on CRISIL’s website, CRISIL is expecting some delay in project implementation on account of the duty as the ‘change in law’ clause is expected to be sought for ~12 GW of under-construction projects. Logically, domestic module manufacturers would become the main suppliers to solar developers in India. However, their supply capacities are far short of the annual demand of the sector. Hence, we expect a rise in capital costs over the near-term due to the duty. Additionally, in light of falling module prices, the impact of the duty remains to be seen.

Click here to download the complete report. 

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