India has set tremendous solar power goals for the coming years. In the wake of escalating energy crisis, India has better chance to shoot onto the solar power map in near future. The county will get 33.4 gigawatts of solar power installed by 2022, says an estimate from Bridge to India. The figure is better than the 20GW forecast the country’s National Solar Mission (NSM) has set for the period. It indicates that the country is in intense efforts to become a leading player in solar energy.
As per the report, India will surpass 14.15GW mark by 2018 itself. By that time, it also projects that solar power will hit grip parity in the country. On its way, solar energy will be one of attractive energy options in India. People will start to install solar systems just comparing the cost of solar power generation with the traditional energy. Surely, by then production of solar energy will be much cheaper in the country. So far, solar power is quite inexpensive in India. It is cheaper than diesel there. By 2012, solar costs will plunge by 40 percent, say industry analysts.
Improvement in technology and combination of economies of scale will help bring down the cost of solar power. At the point of time, there is less government support for grid-off solar power applications. Subsidies from the government mainly focus on utility-scale solar PV projects. Only 40 percent of Indian population is currently accessed to the grid. For the growth of solar power consumption, it should raise more, analysts reveal.