{"id":17183,"date":"2017-11-30T09:53:29","date_gmt":"2017-11-29T23:23:29","guid":{"rendered":"https:\/\/www.solarquotes.com.au\/blog\/?p=17183"},"modified":"2017-11-30T09:53:29","modified_gmt":"2017-11-29T23:23:29","slug":"india-rooftop-solar-mb0336","status":"publish","type":"post","link":"https:\/\/www.solarquotes.com.au\/blog\/india-rooftop-solar-mb0336\/","title":{"rendered":"India Needs To Pick Up Pace On Rooftop Solar : BNEF"},"content":{"rendered":"<p><img decoding=\"async\" class=\"aligncenter size-full wp-image-17185\" src=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/11\/india-rooftop-solar.jpg\" alt=\"Rooftops solar power in India\" width=\"700\" height=\"367\" \/><\/p>\n<p>India&#8217;s rapid growth in rooftop solar panel installations isn&#8217;t fast enough to meet the nation&#8217;s goals says a new report from Bloomberg New Energy Finance.<!--more--><\/p>\n<p>India has seen a 117% compound annual growth rate in rooftop PV since April 2013 and 715MW of rooftop solar was installed this financial year. While India achieved a cumulative installed capacity of 1.3GW at the end of FY2017, this was just 3% of its target capacity addition of 40GW by FY2022.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter size-full wp-image-17187\" src=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/11\/rooftop-solar-installs.png\" alt=\"Rooftop solar installations\" width=\"700\" height=\"464\" \/><\/p>\n<p>BNEF says India will need to invest USD $23 billion over the next five years to meet that target.<\/p>\n<p>The 40GW target is certainly achievable as there are plenty of opportunities in the nation. The cost of electricity from rooftop solar has also plummeted by 50% in the last five years says BNEF. Meanwhile, average retail electricity rates have increased by 22% in the same period, making rooftop PV cheaper than commercial and industrial grid electricity tariffs in all major states in the country.<\/p>\n<p>Based on space and self-consumption constraints, BNEF estimates sectors (including residential) currently using back-up diesel could host 60GW of PV. Additionally, around 8 million irrigation pumps currently powered by diesel could be economically replaced by solar-powered pumps.<\/p>\n<p>BNEF believes residential installations will increase their share in India&#8217;s rooftop PV markets, driven by an increase in awareness, socket parity<sup class='endnote'><a href='https:\/\/www.solarquotes.com.au\/blog\/india-rooftop-solar-mb0336\/#en-17183-1' id='enref-17183-1' onclick='return hhEndnotes_show(17183)'>1<\/a><\/sup> and as households seek a more reliable electricity supply. To accelerate this, BNEF says broader application of net metering is required to make going solar more financially viable for households.<\/p>\n<p>Other issues holding back the residential sector have included the high upfront cost for home solar power systems, a shortage of financing options and grid electricity still being cheaper for residential consumers that have low energy consumption.<\/p>\n<p>According to the <a href=\"https:\/\/data.worldbank.org\/indicator\/EG.USE.ELEC.KH.PC\">World Bank<\/a>, per capita electricity consumption in India in 2014 was just 806 kilowatt-hours. In the same year in Australia, it was 10,078 kWh. However, while Australia&#8217;s per capita figure has flattened, India&#8217;s is rapidly rising as more of its citizens gain access to electricity and more devices are used.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter size-full wp-image-17186\" src=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/11\/rooftop-pv-lcoe.png\" alt=\"Rooftop solar levelised cost of electricity\" width=\"700\" height=\"451\" \/><\/p>\n<p>Bloomberg says the levelised cost of energy (LCOE) of rooftop PV in India for residential and commercial customers is now among one of the lowest in the world and comparable only to some of the sunniest parts in Australia and U.S. However, household incomes are much lower, which makes acquisition of <a href=\"https:\/\/www.solarquotes.com.au\/solar101.html\">home solar power systems<\/a> far more challenging and hence the need for innovative financing options that can still provide electricity cheaper than from the mains grid.<\/p>\n<p>The BNEF report, Accelerating India&#8217;s Clean Energy Transition, can be <a href=\"https:\/\/data.bloomberglp.com\/bnef\/sites\/14\/2017\/11\/BNEF_Accelerating-Indias-Clean-Energy-Transition_Nov-2017.pdf\" target=\"_blank\" rel=\"noopener\">downloaded here<\/a> (PDF).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>India&#8217;s rapid growth in rooftop solar panel installations isn&#8217;t fast enough to meet the nation&#8217;s goals says a new report from Bloomberg New Energy Finance.<\/p>\n","protected":false},"author":17,"featured_media":17185,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[678],"tags":[],"class_list":["post-17183","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solar-battery-news","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.5 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>India Needs To Pick Up Pace On Rooftop Solar : BNEF<\/title>\n<meta name=\"description\" content=\"India&#039;s rapid growth in rooftop solar panel installations isn&#039;t 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A recent report from Mercom India Research states installations this year to the end of June came to 4,765 MW, 452\u2026","rel":"","context":"In &quot;General Solar &amp; Storage News&quot;","block_context":{"text":"General Solar &amp; Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Solar power in India","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/08\/solar-power-india.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/08\/solar-power-india.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/08\/solar-power-india.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/08\/solar-power-india.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":18502,"url":"https:\/\/www.solarquotes.com.au\/blog\/australian-renewable-energy-investment-mb0421\/","url_meta":{"origin":17183,"position":2},"title":"Australia A Standout In Renewable Energy Last Year, But&#8230;","author":"Michael Bloch","date":"January 19, 2018","format":false,"excerpt":"Australia was a star performer in renewable energy investment last year says Bloomberg New Energy Finance (BNEF)\u00a0 - but it warns clouds may be gathering. Clean energy racked up USD $333.5 billion in investment around the world in 2017, up 3% from 2016 and the second highest annual figure ever\u2026","rel":"","context":"In &quot;General Solar &amp; Storage News&quot;","block_context":{"text":"General Solar &amp; Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Clean energy investment","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/01\/renewables-investment-australia.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/01\/renewables-investment-australia.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/01\/renewables-investment-australia.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/01\/renewables-investment-australia.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":17155,"url":"https:\/\/www.solarquotes.com.au\/blog\/developing-nations-solar-mb0333\/","url_meta":{"origin":17183,"position":3},"title":"Developing Nations Powering Ahead On Solar","author":"Michael Bloch","date":"November 29, 2017","format":false,"excerpt":"34 gigawatts of new solar capacity commenced generation in 2016 in developing nations according to the latest Climatescope survey, enough to power every home in Nigeria or Peru. Released at the BNEF Future of Energy Summit in Shanghai yesterday, the report states total cumulative solar capacity jumped 54% year-on-year and\u2026","rel":"","context":"In &quot;General Solar &amp; Storage News&quot;","block_context":{"text":"General Solar &amp; Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Climatescope 2017","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/11\/climatescope-solar.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/11\/climatescope-solar.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/11\/climatescope-solar.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/11\/climatescope-solar.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":88756,"url":"https:\/\/www.solarquotes.com.au\/blog\/australia-germany-solar-mb3092\/","url_meta":{"origin":17183,"position":4},"title":"Solar PV: Australia Vs. 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