Updated By: LatestGKGS Desk
IEA Report: Second Largest Solar Market to be in INDIA
International Energy Agency's (IEA) Report 2018: Second Largest Solar Market to be in India
One of the best ways to convert energy from Sunlight into Electricity either directly by Photovoltaics or indirectly by concentrated solar power.
As per the International Energy Agency in 2014 that when we reach 2050 solar would be the worlds largest source of electricity.
Most of the solar installation is done in India and China as it provides 1.7% of total worldwide electricity consumption, growing at 35% per annum.
On Oct 15, India achieved its target to be the world largest solar market in the world by installing 4.9GW of solar power.
CEO of Mercom Capital Group Raj Prabhu said that new leaders are involving in this field as well as the established company made their leadership position in the first half of 2018.
During the Reporting period, the top 10 developers accounted for 55% of market share while other remaining projected 45%. There were approx 300 utility-scale project developers in the country with at least 5MW or in operation.
Adani is still one of the largest project developers it is power business subsidiary of Indian conglomerate Adani group with Head office at Ahmedabad, Gujarat. There is around 70 large-scale project with a pipeline of 5MW or more in India.
