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India's solar energy generation dips 12% in 2014: Mercom

Press Trust of India  |  New Delhi 

The country witnessed a decline of 12 per cent in solar power generation at a total 883 MW last year, according to energy consulting firm Mercom Capital Group.

Total solar energy installations in 2013 stood at 1,004 MW, it said.

However, its 2015 forecast remained unchanged at an approximately 1,800 MW with some upside.

It further said that the Indian solar industry remains positive as solar programmes are being announced with increased frequency and the installation goal continues to grow.

The 100 GW solar energy goal set recently by government has thrilled the sector, but the industry is pragmatic and realises that while 100 GW looks great on paper, the last five years have resulted in only 3,000 MW in solar energy, with last year's installations at less than 1 GW.

"Most of the industry is confused as they are constantly bombarded with new policies, goals, drafts and revisions," Mercom Capital Group CEO and Co-Founder Raj Prabhu said.

"The last time the National Solar Mission (NSM) conducted a solar auction was in October 2013 - the industry just wants to see execution," Prabhu said.

The two steps, he said, the government can take to help the solar industry take off and bring substantial investments into the sector would be firstly to fix the financial health of discoms and thereby improving the credit rating of off takers and secondly to classify 'renewable' as a priority lending sector in India, making more funds available for solar.

First Published: Wed, February 25 2015. 18:05 IST