Date : May 01, 2015
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Maharashtra will lead the solar photovoltaic market in terms of installation by 2021: Bonafide Research

Maharashtra will lead the solar photovoltaic market in terms of 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 Overview" Maharashtra will lead the solar PV market in terms of installations. In 2021 the installation in Maharashtra would account more than 11% which will reach more than 8000 MW. Favorable factors such as the tropical climate, the availability of vast barren land in places such as Maharashtra, Tamil Nadu and Andhra Pradesh, and the capability of harnessing capacity of solar energy for at least six hours per day have compelled the government and private sectors to tap into and leverage the solar energy potential. 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 photovoltaics. 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. Addressing climate change with balancing the development needs is a critical priority area for Maharashtra. Maharashtra focuses on energy security as well as relooks the way we have been using energy. They need to look for ways to reduce our carbon footprint and efficiently use energy sources. The government has been systematically working on its green energy agenda. Maharashtra has laid focus on solar and wind energy to secure energy access for the present as well as the future. The Baramati 50 MW solar project will be a major step in this direction and will certainly help to meet state’s green energy goals.
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Maharashtra will lead the solar photovoltaic market in terms of installation by 2021: Bonafide Research

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