The cumulative installed capacity of solar power in India has crossed the 5 GW mark.
"While total commissioned utility solar capacity in India reaches 4.7 GW; rooftop capacity stands at 525 MW. In 2015 year to date, close to 2 GW solar capacity has been commissioned," Consultancy firm Bridge To India (BTI) said.
BTI Managing Director Vinay Rustagi said in the statement, "Solar sector has got great momentum with capacity addition in 2015 more than doubling up over last year and total pipeline of over 15 GW of projects under bidding-cum-development."
Encouraged by falling costs and growing need for green energy, states like Punjab, Madhya Pradesh, Karnataka, Telangana, Andhra Pradesh and Tamil Nadu have all announced substantial policy initiatives, he said.
Rajasthan, Gujarat and MP have historically been the front runners, but the four southern Indian states are expected to dominate the market over next 2 years.
As of today, the country has a solar project pipeline of 15.7 GW. The financial year 2016-17 will be Indian solar market's transition year: annual capacity addition could top 6 GW with India becoming one of the leading solar nations worldwide, it said.
In the rooftop sector, Tamil Nadu, Maharashtra and Gujarat are leading the total installed capacity.
In 2015, about 240 MW of rooftop capacity was added despite lack of any major rooftop specific initiatives.
"Consumer awareness has improved significantly and both business and residential consumers are keen to tap into rooftop solar. We expect the market to grow at over 50 per cent rate in the next few years," it said.
