According to a news website, India has become the world’s fourth largest country in terms of total installed green energy capacity (100GW). This announcement has come out as a surprise to everyone as, India has been considered as world’s third largest polluter country.
Let’s have a look on RK Singh, Ministry of Power, Government of India statement;
“The growth of RE has been nothing short of phenomenal in the first quarter of 2021, especially in the rooftop solar sector. By achieving over 95% of its targets for this year within the first three months itself, rooftop solar has outdone itself and has proven to be the preferred go-to for consumers looking to transition to RE for their energy needs”, says Artha Energy Resources (AER)’s Managing Partner, Animesh Damani.
He also said, with the utility-scale projects currently at 3.3GW, the rooftop solar sector is finally matching up to the large-scale installations. Going forward, with the current duty-free period, I expect a further increase in the adoption of rooftop solar solutions, as it is expected to help reduce tariff costs by almost 15%, leading to a positive impact on consumer sentiments.
Established in 2013, AER has facilitated energy transactions worth over 250MW. Present across 8 states, the company has a significant portfolio spanning across Solar & Wind sectors. AER focuses on providing EPC services and financing options to the commercial & industrial segment for onsite solar plants and has been a long-standing partner to brands across sectors.
Animesh also says, this growth can be attributed to various reasons, the most instrumental one being the uptake in Government tenders last year, and the increase in demand by the commercial and industrial segment. Another key aspect has been the increasing confidence by customers, in solar energy, due to the increasing awareness about the financial and environmental benefits it offers.
“We need to ensure that the momentum of growth is maintained and built on. Complacency is not an option. Big names of India Inc. entering the space has reaffirmed the faith of the C&I segment in the solar sector. It has not only spurred the surge in solar adoption but encouraged small businesses and new entrants as well. We can also see the same confidence reflect in the job opportunities that the sector creates. If the overall policy environment is strengthened and aligned to favour with sector’s objectives and the country’s ambitious targets, we can expect even better numbers and touch the unprecedented mark of 5GW of installations annually,” he concluded.