Solar and Wind Account for Over 60% of New Power Capacity Additions in India as of 9M 2017
Solar and Wind accounted for majority of new power capacity additions with renewable energy installations accounting for almost 19 percent of the country’s total installed power as of September 30, 2017 according to Mercom India. By comparison, renewables accounted for only15 percent of the total capacity mix during the same period a year earlier. India’s total installed power generation capacity stood at 333.5 GW at the end of the third quarter, with renewables accounting for 62.5 GW.
The solar sector is witnessing installations at a rapid pace this year, and registered the largest gain in its share of installed capacity with over 7 GW installed in the first nine months of 2017, according to Mercom’sIndia Solar Project Tracker. Solar now accounts for over 17 GW of total installed capacity and represents 5 percent of the overall power capacity mix.
Wind accounted for 32.7 GW of total installed capacity and nearly 10 percent of the overall power capacity mix as of September 2017.
A steady transformation is currently underway in India’s energy sector. Renewable energy capacity additions are rising while thermal power’s share of the overall energy mix is gradually declining. The transition away from coal appeared to be speeding up recently with the cancellation of 14 GW of coal projects due to cost overruns.
New Power Capacity Additions: 9M 2017
Solar was the leading source of new power capacity additions in the first nine months of 2017, with installed capacity of over 7 GW accounting for 39 percent of total power capacity additions, followed by Wind with 21.8% of power capacity additions.
The chart above provides an illustration of the energy transformation taking place in India, and shows that solar is currently on track to be the leading new power generation source in 2017.
But market conditions for solar have reversed in the third quarter as higher module prices, the threat of anti-dumping tariffs, uncertainty surrounding GST rates, and PPA renegotiations have slowed down tender activity. Due to these challenges, solar installations are expected to decline in 2018.
@This article is published by conbio.info 2017-11-13 and based on information from Mercom India which has been edited by Lennart Ljungblom. conBio.info is focusing on news that may have an impact on bioenergy business as well as bioenergy news with general impact, on line since 2013.