India has set a lofty target of 100 GW of solar installations by 2022 and 450 MW of renewables by 2030, with solar accounting for nearly 300 GW of the total installations.
According to Mercom India Research’s latest report, Q2 2021 India Solar Market Update, the cumulative installed solar capacity was around 44 GW at the end of Q2 2021. A long way from the ambitious targets.
To meet the 300 GW of solar by 2030 target, India needs to install 28 GW of solar a year until 2030. The target is steep and requires a clear roadmap to achieve it.
Mercom is hosting a virtual conference, ‘Mercom India Solar Forum 2021’ on October 21. The virtual event will address the ground realities and market outlook amid the rapidly changing solar space.
Spread over six sessions, the event will bring together industry leaders and stakeholders to share their views on various factors affecting the Indian solar industry.
The event will start with an exclusive session devoted to the role of solar in India’s transition to clean energy. The discussion on ‘Solar’s Dominant Role in India’s Transition: Market Outlook 2030’ will be held on October 21, from 11.05 AM.
The panel will discuss the strategies for expanding solar deployment, overcoming the hurdles, and investments needed to meet the ambitious targets.
According to Mercom India Research, the investments in the solar sector increased by 119% quarter-over-quarter, with over $2 billion in Q2 2021. In a year-over-year (YoY) comparison, the investments increased by 2,170% compared to the same period amid the pandemic last year.
The virtual event is free to attend. To register, you can click here.
Rakesh is a staff reporter at Mercom India. Prior to joining Mercom, he worked in many roles as a business correspondent, assistant editor, senior content writer, and sub-editor with bcfocus.com, CIOReview/Silicon India, Verbinden Communication, and Bangalore Bias. Rakesh holds a Bachelor’s degree in English from Indira Gandhi National Open University (IGNOU). More articles from Rakesh Ranjan.