Solar PV is growing rapidly in India. The country has become the third largest solar market globally. Driven by cost competitiveness, solar is now the preferred choice for new power plants by the federal and most state governments. Access to large amounts of capital is essential for the market to maintain its momentum. Our analysis shows that the financing ecosystem in India is ready to meet the needs of the utilityscale segment that constitutes over 90% of India’s solar capacity. The rooftop and off-grid solar markets, however, still face financing challenges.
Microgrids will play a key role in electrifying the world. They are a cost-effective solution that offer enough power to support a local economy. In addition to ever cheaper solar panels or batteries, it is the digitalisation of the product and industry that drives down costs: from mobile money to blockchains. Kenya is the most fascinating lab for microgrid innovations, with lessons for the world. The report can be downloaded for free.
Read Kenya: The World’s Microgrid Lab report.