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India third largest solar market in the world: Mercom Communications

India set a new record with 9.6 GW of solar installations in 2017, which was more than double the 4.3 GW installed in 2016

Press Trust of India  |  New Delhi 

solar power

emerged as the third largest in the in 2017 behind and the US, said in a report.

"In 2017, emerged as the third largest ...having grown at a CAGR of approximately 170 per cent since 2010," it said.

As per the report, India set a new record with 9.6 GW of solar installations in 2017, which was more than double the 4.3 GW installed in 2016.

The robust growth boosted the country's total solar installed capacity to 19.6 GW as of December 2017, it added.

"In 2017, larger players started consolidating their positions at the top as India quickly emerged as one of the most important solar markets in the for suppliers and vendors,"said.

As of 2017-end, large-scale project development accounted for 92 per cent of the all-time cumulative solar installations in India with 19.6 GW, and 2017 alone made up 90 per cent of such installations with 8.6 GW.

Of the total 1.6 GW cumulative solar rooftop installations in India by 2017, 995 MW was installed last year.

is an arm of global consulting firm

First Published: Tue, May 15 2018. 21:08 IST
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