Indian Solar Energy Current Scenario and Estimates
Saturday, June 13, 2009 Leave a Comment
The Indian government has committed to Solar energy targets of 20 GW by 2015 and 200 GW by 2030
– - 2015 target of 20 GW represents a CAGR of 62% from 2008
– - 2030 target of 200 GW represents a CAGR of 20% from 2010
This will be further driven by the fact that cost of Solar energy production is falling to levels comparable to that of non-renewable alternatives such as coal
—New Energy Finance, an industry research resource estimates that the Solar energy sector is expected to exceed the 2020 government set targets by 50%
Today, renewable energy in India is a $600-million market growing at the CAGR of 15% annually. India ranks fifth in the world in renewable energy capacity. Its renewable energy target for 2030 is 200GW, up from its current 8GW. The goal will require an estimated $200 billion capital investment.
Additonally, —the renewable energy sector in India is expected to receive $US180 billion of public and private investment by 2020 and exceed government set targets for capacity.
Lets hope that all the projections and estimates turn into real numbers by 2015 and 2030.. Or else as everyone say, "it's only a number"
Jai Garvi Gujarat!
Keep posting your comments to make this discussion productive.