With expected new capacity addition of 5.4 gigawatt (GW) in 2016, India will become the fourth largest solar market globally this year, overtaking the UK, Germany and France, a report released by Bridge to India (BTI), a renewable energy consulting firm.
About 65 GW of solar capacity is expected to be added globally in 2016, with Asian countries in the lead, the report said. India has already installed 6.6GW of utility-scale solar capacity and 740 megawatt (MW) of rooftop capacity.
Indian solar market appears in full bloom right now. 25GW of projects are under different stages of development.
Contributed By Sonia Narula