Falling tariffs, 100-GW target, hope of demand growth boost solar capacity

Currently, the lowest solar power rate stands at Rs 2.44/unit, a 20% CAGR fall over a seven-year period. This has driven corporates to procure solar electricity at prices lower than what discoms offer. CleanMax Solar, the largest rooftop solar developer in India, expects a threefold rise in its capacity to 300 MW in FY18, with significant demand from the corporate segment. Andrew Hines, co-founder, CleanMax Solar, told FE that “solar power is not only cleaner, but also very cost-effective for these consumers, Hines added.