Opportunities in Indian market
As the Indian economy grows, energy consumption has grown alongside. However, Electricity supply has not been able to keep up with this demand, and there is a continuing energy deficit of about 10%.This power shortage has resulted in blackouts being experienced on a regular basis by a large section of the population, as well as having a negative impact on economic growth.
India is a country of sub-continental dimensions, with great diversity of geography, culture and lifestyle from state to state. However, high annual solar irradiation greater than 1600 kWh/m2 is a common factor which holds true for most States in the Indian Union. Thus, the situation is promising on the supply as well as the demand fronts. As a ‘sunbelt’ country, the scope of solar power generation is enormous, while the energy deficit ensures sustained demand.
India is heavily dependent on import of Petroleum products as well as Coal for its energy needs. Solar Utility Plants can provide an alternative to coal-based Thermal Power Plants, while PV-Diesel Hybrid and Off-Grid solutions can be used to reduce Diesel consumption. There are a large number of villages which are still unconnected to the Grid. Solar PV would be the ideal solution to provide Electricity to these villages in a decentralized manner without the need for exorbitant Capital Expenditure for Grid extension.
Lastly, there is increased awareness amongst the population about the need to move from polluting sources of Energy to more eco-friendly sources like Solar.