Tata Strategic Management Group, the largest Indian-owned management consulting firm, today published a report titled, ‘Solar Industry in India: Challenges & Way Ahead’ for the 4th Annual Global Solar EPC Summit 2014, as a knowledge and strategy partner for Solar Quarter at New Delhi. The report is a source of insights and information on the solar sector for PV power plants. The report acts as a guide to industry stake holders to gain an insight into the current status and action points for unleashing the hidden solar potential. Publishing of the report is highly relevant as the solar power is touted to be the next big thing in power and poised towards a high growth trajectory in the next 5-7 years.
The report brings out insights on various global solar markets and policy initiatives therein. Extensive primary interactions were carried out with multiple stakeholders including policy makers, regulators, developers, original equipment manufacturers, balance of plant manufacturers, engineering consultants to capture the views to capture upcoming trends in the solar sector and the challenges being faced by various stakeholders in India. Some of the challenges highlighted by the industry participants are regulatory inconsistency, lack of Renewable Purchase Obligation (RPO) enforcement and increasing competition in the sector. Key lessons learnt so far include establishing prudent Quality Control (QC) parameters for solar installations, consistent capacity addition through well planned central and state programs, enforcement of RPO, close monitoring for early fault detection. Further, some of the key actions recommended include long term consistent solar policy, rolling out regulations like net metering and open access for the development of the sector. Other important recommendation is development of solar manufacturing ecosystem and allied infrastructure.
Mr. Manish Panchal, Practice Head - Chemical & Energy, Tata Strategic Management Group, said, “Our endeavour through this report is to highlight the challenges that are stopping the solar sector to grow at its real potential. Solar being a sunrise sector in India requires the coordinated participation of all the key stakeholders especially the regulators to develop the right frameworks for it to grow.”
Mr. Shardul Kulkarni, Principal - Energy, Tata Strategic Management Group, said, “The report highlights the shift of solar sector from being policy driven to parity driven. The focus now should be on roll-out of a few important policies like net metering for the sector. The growth post such initiatives would be exponential as it the only hedge available against rising conventional power tariffs.”
Key Highlights of the Knowledge Paper:
Key challenges for Indian Solar Sector-
Key lessons to strategically guide the sector to its real potential-
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