Of course it is!
Had it not been the case, India would not have been ranked “Second” in the Renewable Energy Country Attractiveness Index (RECAI).
Below facts should prove viability of solar power projects in India:
- India is presently the third-fastest country in terms of solar power projects capacity addition
2. In the Top Renewable Energy Trends to watch in 2017 list, India stood first on the list, primarily due to the sheer market attention in the Solar Sector.
3. In 2015, India witnessed ~ USD 10 bn investment in RE (primarily in solar) and stood fifth among countries by new renewable energy investments.
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4. Approx. US 1 bn has been infused by the PE/VC investors in Solar Energy sector over past 5 years.
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5. All in all, India is ranked ninth among countries by total solar installed capacity.
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Viability of Solar Power Projects is only questioned due to some apprehension in the industry because of low solar tariffs.
However, it is to be emphasized that low solar tariffs by no means can prove investment (in such huge scale) in solar energy segment in India as unprofitable/unviable. Infact, solar power tariffs globally is on decline with Abu Dhabi witnessing a record low tariff of US cents 2.42/unit.