India mainly an off-grid solar PV market thus far

Research and Markets has announced the addition of GlobalData’s new report "Indian Solar Sector: Dawn of a New Era" to its offering.

Thefuture of solar PV development in India looks encouraging and isexpected to be driven by the government incentives and PV supportprograms. India is mainly an off-grid solar PV market with only 2.12 MWof PV power being grid connected.

The Ministry of New andRenewable Energy (MNRE) has launched various financial support programslike the generation based incentives (feed-in tariff) of Rs 15/KWh($0.30 / KWh) to encourage grid connectivity in India. Semiconductorpolicy in India is providing capital subsidy for PV manufacturers.

Thisinitiative has attracted investments worth Rs 796.46 billion ($18billion) from manufacturers of PV equipment. Financial incentives alongwith other PV support programs like the Solar Cities program is aimedat promoting solar PV installations in the country.