India: With accent on renewable sources of energy, the solar sector in India is poised to grow at a significant pace

Solar power is one of the most talked about topics in India today. With peak power deficit hovering around the 12 per cent and increasing fossil fuel costs, the government is aggressively pushing for renewable sources of energy. Of the 182 GW of total installed power generation capacity in India, renewables constitute about 11 per cent. However, the installed solar capacity still has less than 1 per cent share in the total renewable energy installed capacity.

Indians ready to pay more for electricity from renewable energy sources

A recent survey conducted by Mercom Capital Group on renewable energy awareness in India finds that only 56 percent of Indian consumers have heard of ‘renewable energy’ or ‘clean energy.’ Further only 27 percent of customers have heard of ‘energy efficiency.’

Despite the low awareness, 71 percent of Indian consumers said they are willing to pay higher rates for electricity from renewable energy sources, according to the ‘India Renewable Energy Awareness Survey’ conducted on more than 500 commercial, residential and rural consumers in India.