Challenges for Developing a Globally Competitive Indian PV Ecosystem

Challenges for Developing a Globally Competitive Indian PV Ecosystem

Summary

The launch of the National Solar Mission has given a significant boost to the Indian Solar Photovoltaic (PV) sector. The aggressive target of reaching 20 Gigawatts (GW) by 2022 has made India one of the global hotspots for solar power investment. The ambitious aspirations of the National Solar Mission require the development of a world-class PV industry ecosystem to ensure the timely accomplishment of the Mission’s target. However, lack of well-developed PV ecosystem in India poses many challenges to the major stakeholders engaged in the Indian solar market. The major challenge facing the project developers is the reverse auction bidding, wherein the projects offering significantly lower tariffs win project bids. The lower tariffs affect the expected project cash flows, reducing project profitability. Due to this issue, the developers are facing difficulties in procuring bank loans. Further, there are issues related to the supply-chain that also needs to be addressed

Scope

Its scope includes -

• Key Targets of the Indian National Solar Mission and provides an overview on the Renewable Energy Certificates (RECs) Trading Mechanism
• Key Challenges faced by the major stakeholders engaged in the Indian Solar PV Market

Reasons to buy

• This report details the key challenges for developing a globally competitive Indian PV ecosystem.
• It provides insights on the key challenges faced by the major stakeholders engaged in the Indian Solar PV Market - module manufacturers, developers and banks/financiers.
• It also offers solutions to overcome these challenges and build a world class Indian PV ecosystem.