The efficiency of modules is likely to go up by about two per cent over the next two years and it takes about three years on an average for the manufacturing process to fully adapt to the next level of efficiencies, according to Sujoy Ghosh, Country-Head, First Solar India.
Over the past four years, First Solar has improved its solar module efficiency faster than equivalent efficiencies improvements in Poly Crystalline Silicon technology due to continuous investment in R&D spend by the company.
As of February 2016, the company had produced and certified a record cell at 22.1 per cent efficiency and the record module at 19 per cent efficiency, which is higher than the record certified cell and module efficiencies as reported by poly silicon manufacturers today.
In an exclusive interaction with BusinessLine recently, Ghosh said, “India is set to witness much faster adoption of solar PV projects then ever before. As against solar capacity addition of about 2,500-3,000 MW in 2014-15, and 3,300 MW in 2015-16, the target for 2016-17 is likely to be 8,000 MW. The gain will be mainly driven by large installations in South India, particularly Andhra Pradesh and Telangana.”
The decision of the Centre to encourage setting up of solar parks will be one of the key drivers for big capacity addition as the country targets 60,000 MW of utility solar projects by 2022. Already, some 19 States are working towards encouraging solar parks concept.
Ghosh said, “We will continue to consolidate and improve our market share.”
Asked about the recent bids where some of the solar companies have quoted below ₹45 per unit and going down up to ₹4.34 per unit, Ghosh said, “We will have to wait and watch how all these projects go through.”
Solar energy sector On the consolidation in the solar energy sector, Ghosh said, “Inability to recycle capital contributes to the stagnation in the ability of a development company to keep growing the portfolio.
As the solar sector in India expands and matures, it brings new set of market participants which would be keen to invest in operational or semi-developed assets here initial risks of development, construction , financing and technology are mitigated.