, India

India's solar power generation surged 81%

But it's still just 1.09% of overall power generation.

Solar in India accounted for ~13.5 billion units of electricity produced in the country during the financial year (FY) 2016-17, up from ~7.4 billion units in FY2015-16, according to the Central Electricity Authority (CEA), according to Mercom Capital Group. Electricity from solar energy jumped 81 percent year-over-year (YoY), making it the fastest growing new power generation source added in the country last year.

Even with impressive YoY growth and all the hype around the impact of solar installations and its disruption on the Indian power markets, solar accounted for only 1.09 percent of the total power generated in the country and still has a long way to go. Solar’s share of the electricity generated by renewable energy sources came to 16.5 percent.

Here's more from Mercom Capital Group"

During the financial year, ~6,050 million more units of solar was generated compared to FY2015-16. 

Though solar is being installed at a rapid pace, due to a lower capacity factor, the actual electricity generation tends to be much lower compared to a coal power plant.

According to Mercom’s Q1 India Solar Quarterly Update, cumulative installations reached approximately 12.8 GW at the end of Q1 2017. Mercom is forecasting 2017 installations to reach approximately 10 GW. Lack of clarity surrounding the recently announced Goods and Services Tax (GST) has virtually frozen development activity and could lead to lower than anticipated installation levels.

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