Northern Region of India will experience the maximum number of solar photovoltaic installation by 2021: Bonafide Research

Falling prices of PV Panels, Rising prices of electricity from the grid supply, economic growth and changing lifestyle, net- metering and government policies and subsidies will drive the solar photovoltaic market. According to recently published report of Bonafide Research "India Solar Photovoltaic Outlook 2021" the northern region of India will experience the maximum amount of installation. Government of India is targeting 31120 MW of installation. Non-availability of adequate grid supply and poor quality & reliability of the same prompted the authorities of Northern region to take up the alternate route of utilizing solar power solutions for their energy needs. A photovoltaic system, also photovoltaic power system, solar PV system, PV system or casually solar array, is a power system designed to supply usable solar power by means of photovoltaic’s. It consists of an arrangement of several components, including solar panels to absorb and directly convert sunlight into electricity, a solar inverter to change the electrical current from DC to AC, as well as mounting, cabling and other electrical accessories to set-up a working system. It may also use a solar tracking system to improve the system's overall performance or include an integrated battery solution, as prices for storage devices are expected to decline. The Ministry of New and Renewable Energy provides 70 percent subsidy on the installation cost of a solar photovoltaic power plant in North-East states and 30 percentage subsidy on other regions. The detailed outlay of the National Solar Mission highlights various targets set by the government to increase solar energy in the country's energy portfolio. It is very much possible for India to achieve its solar energy targets through strict implementation of the policies, providing decentralized regulatory mechanism and easy availability of finance for the solar projects.