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5 Facts

about the solar industry in India
you should know

Fact One

From 10 MW installed capacity in 2010, India grew to approximately 9 GW capacity in solar in 2016

"Make in India" as well as the solar mission is actually a good combination and Indian domestic manufacturers have contributed in making this growth a success. India is on track to become one of the largest installers of solar power globally, with this incredible installation rate.

Fact Two

Solar prices have fallen from ₹18/kWh to below ₹3 to ₹4/kWh in the last five years

The fall in prices of solar modules in global markets along with a firm policy push by the Government in India to install 100 GW of solar power capacity by 2022, which is by the way the largest renewable energy capacity expansion in the world, has increased investor appetite, leading to a tariff drop from ₹18 per kWh to below ₹3 to ₹4/kWh in the last five years. Major incentives given to the sector include a reduced tax burden, improved cash flow, simpler foreign investment rules, viability gap funding for public-private partnerships, capital subsidy for grid-connected solar rooftop systems, and state-level initiatives like treating land acquired for renewable energy projects as non-agricultural.

Fact Three

Renewable energy has electrified a total of 12,064 villages in India

A total of 12,064 villages out of 18,452, have been electrified under the Deen Dayal Upadhyaya Gram Jyoti Yojana (DDUGJY). Ministry of Power, Coal, New & Renewable Energy & Mines under the guidance of Shri Piyush Goyal, MoS(IC), GoI, is leading this initiative.

Fact Four

The solar industry in India has created 31,000 jobs for on-grid and 72,000 jobs for off-grid applications, employing 103,000 people.

Solar PV employs an estimated 103,000 people in grid-connected (31,000 jobs) and off-grid applications (72,000 jobs). With increasing domestic demand, local companies are utilising their production capabilities and several foreign companies are interested in investment. Irrespective of further developments in manufacturing, reaching the government's goal of 100 GW in PV by 2022 could generate 1.1 million jobs in construction, project commissioning & design, business development and operations & maintenance.

Fact Five

The total capacity of installed solar module production lines increased from 5,848 megawatts to 8,113 megawatts within 6 months in 2016, a 23% increase.

The total capacity of installed solar module production lines increased from 5,848 megawatts on 30 June 2016 to 8,113 megawatts on 31 December 2016, a 23% increase. The total number of companies in the business of module manufacturing has also increased from 94 to 104 during the six month period. Encouragingly, three module manufacturers that jointly have the second largest installed production lines for solar modules have 100% capacity utilisation. These are Emmvee Photovoltaics, Vikram Solar and Waaree Energies, each having an installed capacity of 500 megawatts.

Why Vikram Solar?

WIDE-RANGED ROOFTOP SOLAR EPC EXPERIENCE with project presence across 24 states in India

India's Tier 1* Module Manufacturer meeting highest international standards

First company to build solar PV rooftop array on world's first 100% solar powered airport

ISO 9001:2008 Certified Manufacturing unit & EPC projects division



* Bloomberg New Energy Finance