Standard Post with Image

New year 2020 have great expectation ahead bring solarization and growth to solar Industry

Last year pinned around 7 GW of solar capacity addition and this year it is expected to cross 12 GW of capacity additions. Programs like KUSUM are focusing on solar pumps and the agriculture sector are also helping propel growth in the sector. Domestic module manufacturing capacity is poised to go around 12 GW in the next two quarters and additional cell capacity addition of 5-7 GW in next 3 Years.Developers, investors expects a more stable, predictable policy and regulatory regime for the solar industry in India, providing a sufficient government support, encouraging policies, and improved market conditions, the sector is poised to see one of its strongest years yet.

Rooftop segment earmarked slow capacity additions due to lack of policy support, there need to be a significant growth in rooftop solar else it will hamper national solar goals. Deprivation is to stabilize economy, enforce renewable purchase obligations, shoring up finances of DISCOMs so they can pay the developers on time, and facilitating lending will put the solar industry back on the growth path so it can continue generating clean power, decrease pollution, and create jobs.

Also there are several challenges to be addressed proactively like regulatory and policy inconsistencies, ending of safeguard duty 2020, changes in duties, and payment delays by distribution companies (DISCOMs), among others.