Change policies to up the deployment of solar energy

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Monalisa Sen: Nov 26 2012, 04:56 IST

Hard-hit by adverse market conditions in Europe and USA, Chinese solar companies are keen to bring investments into solar projects in emerging markets like India. ReneSola, one of China’s leading photovoltaic makers, sees huge potential for solar investments in the country. It also intends to use India as a manufacturing hub for producing solar modules, for supplying not only to the Indian market, but also to the neighbouring countries. Stephen Huang, president, Asia Pacific region of ReneSola tells Monalisa Sen about his company’s plans for the Indian market, its key initiatives and investments. Excerpts:

Why is solar power important for India? Globally, how has the market evolved?

India has huge solar energy potential with ample sunshine throughout the entire year. A recent survey projected that an estimated solar energy potential India has is around 500 GW and that the solar power for India in next 20 years will be playing an important role and will be able to meet 5-7% of the total energy requirements by 2021- 2022. Keeping in mind the fact that in India millions of people need affordable electricity, and businesses and other institutions are looking to the government to ensure reliable electricity in rapidly growing cities throughout the country, solar power is highly significant.

Globally India is considered as one of the leading markets in solar and renewable energy. Over the years, the country has evolved as a promising market creating a conducive ecosystem for incubating commercially viable technologies. With an increasing energy requirement, the shift towards solar power

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