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Solar installation to touch 4 GW in 2016: Mercom Capital Group

NEW DELHI: Solar installations in India are expected to reach over 4 GW in 2016 compared to 2.3 GW installed in 2015, said Mercom Capital Group.  Mercom reiterates its 2017 solar installation forecast of over 9 GW, it said in its report released today adding that the cumulative installations including large-scale and rooftop projects in the country have reached 9.6 GW.  Of the 4 GW to be installed in 2016, 3.7 GW are expected to be utility-scale projects and about 275 MW are expected to be rooftop projects, it said.  According to statement, the country's solar development pipeline is now more than 14.2 GW with about 6.3 GW of projects tendered and pending auction.  "We are forecasting installations to reach over 9 GW in 2017 which would put the Indian solar sector in the big leagues along with China, the United States, and Japan.  However, there are significant headwinds in terms of transmission and evacuation issues that could threaten the pace of growth," said CEO and co-founder of Mercom Capital Group Raj Prabhu in a statement.