India has the largest number of solar panels per capita in the world, according to the Solar Energy Industries Association (SEIA).
India is also one of the world’s largest producers of battery packs, according the IEA.
The Indian Solar Energy Association (ISEA) has forecast that India will overtake China as the world leader in total installed solar capacity by 2025.
Solar power production is expected to grow at an annual rate of 9% from 2013 to 2027.
In the coming years, India is expected also to overtake China in solar panel production.
The country’s Solar Industry Corporation of India (SICI) has been ramping up solar manufacturing capacity to more than 5,000MW, and is planning to invest $4 billion to expand the sector.SICi also has a plan to produce solar energy for a “green” economy by 2025, but the industry will not be able to achieve this due to the lack of the appropriate incentives and the country is not yet at a point where it can compete effectively.
In an interview with Bloomberg Television, SEIA Managing Director Nandan Nilekani said India’s solar energy industry is on track to grow to 10,000 MW by 2025 and that solar energy should be part of the government’s agenda to address climate change.
“The government has a huge vision, and I think it will be a good idea for the government to have a plan for solar power, because solar power will create jobs, generate jobs, make our country cleaner,” Nilekami said.
“Solar is not a luxury.
We are a global leader in renewable energy, and we should also invest in renewables.”SIC IAG chairman Rajan Mukherjee said the company plans to build the country’s first 100MW power plant in 2019.