India’s Solar Leap: Financing a Mature Market
A report on the current high growth of solar in India
Solar PV is currently experiencing high growth in India and the country has become the third largest solar market globally. Driven by cost competitiveness, solar is now the preferred choice for new power plants by the federal and most state governments. Access to large amounts of capital is essential for the market to maintain its momentum. The report shows that the financing ecosystem in India is stepping up to meet the needs of the market. As the solar market has grown, local, commercially-driven capital has stepped up. This has tilted the financing landscape in favor of domestic Indian sources, which in 2016 contributed more than 85% of financing.