Nov 3, 2011 - India will install over 9 GW of solar power capacity between 2011 and 2016, a study shows.
According to the report from GTM Research and Bridge to India, the market will grow from only 54 MW of grid-connected capacity at the end of 2010, turning the country into a major factor in global solar demand.
The study said that growth will be driven by India's National Solar Mission (NSM) framework, incentives at state level and the inflow of international expertise.
It identifies project financing as a key challenge to developers, noting that banks have been reluctant to lend to the country's first wave of projects.
India's solar capacity is set to grow to 365 MW by the end of this year and to more than 1,100 MW by 2012 as a result of NSM's feed-in tariffs and the solar policy of the state of Gujarat.