14 DAY TRIAL // Consulting firm Mercom Capital Group has recently released a new report saying that, according to its investigations into the matter at hand, India has high chances to add an impressive 1,000 megawatts of new solar power capacity by the end of this year.
To put things into perspective, it must be said that, in 2013, solar installations in India totaled 1,004 megawatts. In 2012, on the other hand, they amounted to 986 megawatts.
This means that, all things considered, the solar market in said country is not exactly developing at a rapid pace. However, there is little denying that India is indeed making progress towards upping its dependence on renewables.
A noteworthy amount of the new green energy capacity that is likely to be installed in India by the end of 2014 will result from state solar power programs.
Still, it would appear that specialists with the Mercom Capital Group expect that solar thermal power projects will have a say in the matter, Clean Technica reports.
Commenting on these predictions, Raj Prabhu, CEO and co-founder of Mercom Capital Group, stated as follows:
“The case for solar in India will remain strong as long as the relevant policy goals address power shortages that affect millions of Indians, businesses, industries, and agriculture.”