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LATEST NEWS UPDATES | Residential Rooftop Solar Installations May Increase by Around 60% By FY23-End: Report -Aathira Perinchery

Residential Rooftop Solar Installations May Increase by Around 60% By FY23-End: Report -Aathira Perinchery

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published Published on Oct 9, 2022   modified Modified on Oct 10, 2022

-TheWire.in

However, some experts have pointed out that a 60% rise might be an overestimate – because currently, the demand comes from only very few states. But it will increase only if the demand rises in more states.

Kochi: India’s residential rooftop solar capacity could increase by approximately 60% by the end of financial year 2022-23 as compared to the last fiscal, according to a report by the Institute for Energy Economics and Financial Analysis (IEEFA) and JMK Research and Analysis.

This could be due to an increase in consumer awareness and “strong government support”, which includes a new direct benefit transfer mechanism that ensures that consumers will receive subsidies easier and faster, the report said.

Indeed, increasing awareness and policy reforms will fuel the demand for rooftop solar in the residential sector, renewable energy scientists said. However, other experts said that a 60% rise might be an overestimate – because currently, the demand comes from only very few states. India’s residential rooftop installations will, therefore, increase only if the demand rises in more states over this time.

India’s solar power target

As per the recently updated Nationally Determined Contribution (NDC) that India submitted to the United Nations Framework Convention on Climate Change under the Paris Agreement of 2015, India has promised to achieve about 50% of cumulative electric power installed capacity from non-fossil fuel-based energy resources by 2030. Generating more solar power – often touted as a clean and green source of power – is a critical component of this transition.

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TheWire.in, 9 October, 2022, https://thewire.in/environment/residential-rooftop-solar-installations-may-increase-by-around-60-by-fy23-end-report


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