Over 4GW of solar has bee commissioned in 2016 versus 2015's 2.3GW.
According to Mercom Capital, with increasing installation activity, the solar sector has come a long way in the past two years in India. Solar energy now accounts for almost 1% of total power generated in India and 13% of the total renewable power generated in the country.
Solar accounted for 7,002.71 million units of electricity produced in the country during the seven-month period from April to October 2016, according to the Central Electricity Authority (CEA).
In 2016, solar produced 3,072.41 million more units compared to the seven-month period from April to October in 2015.
"The numbers show how far solar has yet to go to become a significant source of electricity generation in the country. On the positive side, the electricity generated through solar has been increasing exponentially," Mercom Capital added.
According to Mercom’s India Solar Project Tracker, over 4 GW of solar has been commissioned this year compared to 2.3 GW in all of 2015. Government policies and subsidies are helping the sector grow. With solar installations forecasted at more than 9 GW in CY 2017, the share of solar power generation is expected to continue increasing.
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