India is dead set to boost solar capacity by 5,200MW

Share of solar in its energy mix jumped to 15.82%.

India meant serious business when it said it will add 5,200 MW solar capacity as policies will be rolling out in various states to push the sector forward.

According to a study by CARE Ratings, out of total installed renewables capacity of 42,750 as of March 31, solar energy's share hiked to 15.82%. This is a 2.02ppt increase versus the 13.8% share in 2014-2015.

States such as Andhra Pradesh, Chhattisgarh, Gujarat, Jharkhand, Karnataka, Madhya Pradesh, Odisha, Punjab, Rajasthan, Tamil Nadu, Telangana and Uttar Pradesh have all been proactive in producing policies for awarding solar power projects.

CARE Ratings added that India is set to become the fourth largest solar market globally in 2016 behind only to China, USA and Japan, primarily on account of government's thrust on significantly enhancing the installed solar capacity to 100,000 MW by 2022.