According to a report, India’s solar and wind generation capacity has been predicted to reach 135 GW by the end of 2024 up from the 77 GW capacity it had reached at the end of 2019.
“Notwithstanding the various operational and financial challenges and growing risk aversion, we expect the record low solar tariff level to be breached in the next one to two years,” stated BTI (Bridge to India) in its report titled ‘India renewables outlook 2024’.
Source: Bridge to India research
The report further revealed that the residential solar rooftop sector is expected to pick up owing to clearer policy focus and improving availability of financing solutions. Additionally, the mixed financing environment equity funding will remain as easy as the residential rooftop sector attracts global investors.
Recently, the latest report by the Central Electricity Authority (CEA) tracking the monthly renewable energy generation in India for the month of December 2019 had revealed that electricity generated from renewable energy sources increased by 17.2% year over year from the same month in 2018, and 23.9% over the previous month of November 2019.