A key factor in this scenario is the falling cost of solar, with KPMG predicting that by 2020 solar power will have reached INR4.20/kWh and INR3.59/kWh by 2025, up to 10% lower than coal.
Another major disruptor identified by KPMG is the advent of the rooftop PV market in India. Although rooftop PV is already competitive in India for many industrial, commercial and some residential customers, it is being held back by immature or non-existent net metering policies and the poor state of India’s grid.
But KPMG said this could change with the “significant evolution” expected in storage technologies, which will make self-consumption of solar power generated particularly in residential settings more attractive.
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“The bigger disruption which we are yet to see may come from the solar rooftop business. This will be supported by a rise in storage technologies, and together they could change the energy landscape. Solar rooftop power, today, is already competitive compared to grid power;Tile Roof Solar Mounting Tracking System
however, it requires net metering support. Though, going forward, this will change due to the significant evolution that is expected in storage technologies,” the report said.
The consultancy predicted that India’s rooftop market could reach 10GTile Roof Solar Mounting Tracking System
W by 2020 and 49GW by 2025. Initially, the rooftop market will be dominated by industrial consumers over the next five years, but then accelerate after 2020 due to the likelihood of storage solutions making rooftop solar more attractive to householders at around this time. In the long term, residential PV will be the dominant player in the rooftop market, according to KPMG.Tile Roof Solar Mounting Tracking System
The findings of the study echo those of a report published by Deutsche Bank over the summer, which predicted that investment in solar power in India would surpass investment in coal by around 2020.
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