India to add 67,000 MW solar power capacity by 2022
NEW DELHI: Technological breakthroughs and economies of scale will make solar power competitive in six years and help India add 67,000 megawatts of solar generation capacity by 2022 - more than thrice the country's target, according to a report by consultancy firm, KPMG.
"The present trends indicate that the prospects are very bright for solar power to be equal to conventional electricity any time after 2017, said a senior official from the Ministry of New and Renewable Energy.
The report, which will be released next week, says solar energy can contribute 7% of the total power needs of the country by 2022, helping cut coal imports by 30% or 71 million tonnes a year. This would result in saving of $5.5 billion in imports per year from 2022 onwards, it said.