India has firmly embraced solar power, advancing the target date by five years for selling solar-generated electricity at the same rate as electricity generated by fossil fuel plants, from 2022 to 2017.
The reason for moving the date forward is plummeting tariffs in the latest solar development projects, a trend expected to continue.
Some big names from India have proved that a large investment will soon be possible in solar projects, as huge as 2,000 megawatts, according to the ministry of new and renewable energy. There are other reasons as well. Internationally, the price of solar cells has come down and with improved technology, the cost of operation as a whole has been reduced, thereby increasing the efficiency.
All is not yet completely sunny for India's solar energy drive, however. Several solar projects benefiting under a state program offering favorable tariffs to build 20,000 megawatts of capacity have already been delayed.
Experts believe solar has the same potential as personal computers had in 1970s.
Support for India's solar ambitions comes from some heavyweight fiscal analytical groups. Ernest and Young has noted that the extent of price reduction since 2008 has been very sharp.
India being an emerging market and one of the few countries where solar energy is encouraged at such a massive level has clearly been a reason for the surge. There is also the National Solar Mission whose objective is to establish India as a global leader in solar energy, by creating the policy conditions for its diffusion across the country as quickly as possible.
The program aims to boost the nation's solar capacity by the equivalent of about 18 nuclear power plants by 2022, and that has now been brought forward by five years.
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