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US report sees spark in India solar scheme

business Updated: Apr 27, 2012 00:21 IST
IANS
solar market

India’s ambitious national solar programme has catalysed rapid growth in the solar market driving solar energy prices low and demonstrating how government policy can stimulate clean energy markets, according to a new report.

In only two years, competitive bidding under country’s National Solar Mission drove prices for grid-connected solar energy to nearly the price of electricity from fossil fuels, said the report released here on Wednesday by the Natural Resources Defence Council (NRDC) and the Council on Energy, Environment and Water (CEEW).

During that same period, cumulative installed solar capacity in India surged from 17.8 MW to over 500 MW, the report said. It provides recommendations to aid the government, private sector and other stakeholders in overcoming obstacles to achieving the mission’s goal of 20 GW of installed solar capacity by 2022.