1. Solar PV in India, Market Outlook to 2025 - Capacity,
Generation, Levelized Cost of Energy (LCOE), Investment
Trends, Regulations and Company Profiles
Report Details:
Published:September 2012
No. of Pages: 129
Price: Single User License – US$2500
Solar PV in India, Market Outlook to 2025 - Capacity, Generation, Levelized Cost of Energy
(LCOE), Investment Trends, Regulations and Company Profiles
Summary
"Solar PV in India, Market Outlook to 2025 - Capacity, Generation, Levelized Cost of Energy
(LCOE), Investment Trends, Regulations and Company Profiles” is the latest report from
GlobalData, the industry analysis specialists that offer comprehensive information and
understanding of the solar PV market in India. The report provides in depth analysis on global
renewable power market and global solar PV market with forecasts up to 2025. The report
analyzes the power market scenario in India (includes thermal conventional, nuclear, large hydro
and renewables) and provides future outlook with forecasts up to 2025. The research details
renewable power market outlook in the country (includes wind, small hydro, biopower and solar
PV) and provides forecasts up to 2025. The report highlights installed capacity and power
generation trends from 2001 to 2025 in India solar PV market. The research analyzes market
segmentation by grid connectivity, investment trends and LCOE for solar PV in India during 2011-
2025. The report provides information on the amount of carbon saved and average number of
homes powered by solar PV during 2001-2025. A detailed coverage of renewable energy policy
framework governing the market with specific policies pertaining to solar PV market development
is provided in the report. The research also provides company snapshots of some of the major
market participants.
The report is built using data and information sourced from proprietary databases, secondary
research and in-house analysis by GlobalData’s team of industry experts.
Scope

2. The report analyses global renewable power market, global solar PV market, India power market,
India renewable power market and India solar PV market. The scope of the research includes -
- A brief introduction on global carbon emissions and global primary energy consumption.
- Historical period is during 2001-2011 (unless specified) and forecast period is for 2012-2025.
- An overview on global renewable power market, highlighting installed capacity trends, generation
trends and installed capacity split by various renewable power sources.
- Renewable power sources include wind (includes both onshore and offshore), solar photovoltaic
(PV), concentrated solar power (CSP), small hydropower (SHP), biomass, biogas and geothermal.
- Detailed overview on the global solar PV market with installed capacity and generation trends,
market segmentation by grid connectivity, installed capacity split by region in 2011, installed
capacity split by major solar PV countries in 2011, investment trends (2011-2025), trade flow of
solar PV modules (2001-2011) and detailed cost analysis which includes LCOE comparison
among major countries.
- Power market scenario in India and provides detailed market overview, installed capacity and
power generation trends by various fuel types (includes thermal conventional, nuclear, large hydro
and renewables) with forecasts up to 2025.
- An overview on India renewable power market, highlighting installed capacity trends (2001-
2025), generation trends(2001-2025) and installed capacity split by various renewable power
sources in 2011.
- Detailed overview of India solar PV market with installed capacity and generation trends, market
segmentation by grid connectivity, investment trends (2011-2025), import-export data of PV
modules (2006-2011), carbon savings (2001-2025), number of homes powered (2001-2025) and
LCOE for solar PV during 2011-2025.
- Deal analysis of India solar PV market. Deals are analyzed on the basis of mergers, acquisitions,
partnership, asset finance, debt offering, equity offering, private equity (PE) and venture capitalists
(VC).
- Key policies and regulatory framework supporting the development of renewable power sources
in general and solar PV in particular.
- Company snapshots of some of the major market participants in the country.
Reasons to buy
The report will enhance your decision making capability in a more rapid and time sensitive
manner. It will allow you to -
- Identify key growth and investment opportunities in India solar PV market.
- Facilitate decision-making based on strong historic and forecast data for solar PV market.
- Position yourself to gain the maximum advantage of the industry’s growth potential.
- Develop strategies based on the latest regulatory events.
- Identify key partners and business development avenues.
- Understand and respond to your competitors’ business structure, strategy and prospects.
Get your copy of this report @

3. http://www.reportsnreports.com/reports/197269-solar-pv-in-india-market-outlook-to-2025-capacity-generation-
levelized-cost-of-energy-lcoe-investment-trends-regulations-and-company-profiles.html
Major points covered in Table of Contents of this report include
1 Table of Contents
1 Table of Contents 2
1.1 List of Tables 6
1.2 List of Figures 8
2 Executive Summary 10
2.1 Global Carbon Emissions Continue to Increase in 2010-2011 after a Slight Dip in 2009 10
2.2 Global Power Market – Increasing Focus on Clean Technologies 10
2.3 Government Support will continue to Foster the Growth of Global Renewable Power Market 10
2.4 Global Solar Photovoltaic (PV) Market Will Sustain its Growth Momentum 11
2.5 India Power Market – Significant Growth Expected to meet Increasing Demand 12
2.6 India Renewable Power Market – Ambitious Targets to Foster Growth 12
2.7 India Solar PV Market – Significant Growth Expected During 2012-2025 with Falling Module
Prices 13
3 Introduction 14
3.1 Carbon Emissions, Global, 2001-2011 14
3.2 Primary Energy Consumption, Global, 2001-2025 16
3.3 Report Guidance 17
4 Renewable Power Market, Global, 2001-2025 19
4.1 Renewable Power Market, Global, Overview 19
4.2 Renewable Power Market, Global, Cumulative Installed Capacity, MW, 2001-2025 20
4.3 Renewable Power Market, Global, Power Generation, GWh, 2001-2025 22
4.4 Renewable Power Market, Global, Cumulative Installed Capacity Split by Source Type, %,
2011 24
4.5 Renewable Power Market, Global, Net Capacity Additions by Source Type, MW, 2011-2025 25
4.6 Renewable Power Market, Global, Comparison among Power Sources 26
5 Solar PV Market, Global, 2001-2025 27
5.1 Solar PV Market, Global, Overview 27
5.2 Solar PV Market, Global, Installed Capacity, MW, 2001-2025 28
5.3 Solar PV Market, Global, Power Generation, GWh, 2001-2025 30
5.4 Solar PV Market, Global, Cumulative Installed Capacity Growth by Region, MW, 2011-2025 32
5.5 Solar PV Market, Global, Cumulative Installed Capacity Split by Country, %, 2011 33
5.6 Solar PV Market, Global, Net Capacity Additions in Major Countries, MW, 2011-2025 34
5.7 Solar PV Market, Global, Comparison between Key Countries 35
5.8 Solar PV Market, Global, Investment Trends, $m, 2012-2025 36
5.9 Solar PV Market, Global, Cost Analysis 37
5.9.1 Solar PV Market, Global, Cost Break-up of a Grid Connected PV System, 2011 37
5.9.2 Solar PV Market, Global, Cost Break-up of an Off-grid PV System, 2011 38
5.10 Solar PV Market, Global, LCOE in Major Countries, $/kWh, 2011 39
5.11 Solar PV Market, Global, Trade Flow Analysis of PV Modules 40

4. 5.12 Solar PV Market, Global, Major Debt Providers, 2011 42
6 Power Market, India, 2001-2025 43
6.1 Power Market, India, Overview 43
6.2 Power Market, India, Cumulative Installed Capacity, MW, 2001-2025 44
6.3 Power Market, India, Cumulative Installed Capacity by Fuel Type, MW, 2001-2025 45
6.4 Power Market, India, Power Generation by Fuel Type, GWh, 2001-2025 46
6.5 Power Market, India, Net Capacity Additions by Source Type, MW, 2011-2025 48
6.6 Power Market, India, Comparison of Power Sources, 2011 49
7 Renewable Power Market, India, 2001-2025 50
7.1 Renewable Power Market, India, Overview 50
7.2 Renewable Power Market, India, Cumulative Installed Capacity by Source Type, MW, 2001-
2025 51
7.3 Renewable Power Market, India, Cumulative Installed Capacity Split by Source Type, %, 2011
and 2025 52
7.4 Renewable Power Market, India, Power Generation by Source Type, GWh, 2001-2025 53
7.5 Renewable Power Market, India, Net Capacity Additions by Source Type, MW, 2011-2025 55
7.6 Renewable Power Market, India, Comparison of Renewable Power Sources 56
7.7 Renewable Power Market, India, LCOE Comparison, $/kWh, 2011 57
8 Solar PV Market, India, 2001-2025 59
8.1 Solar PV Market, India, Overview 59
8.2 Solar PV Market, India, Installed Capacity, MW, 2001-2025 60
8.3 Solar PV Market, India, Power Generation, GWh, 2001-2025 62
8.4 Solar PV Market, India, Segmentation by On-grid and Off-grid, 2001-2011 63
8.5 Solar PV Market, India, Investment Trends, 2001-2025 68
8.6 Solar PV Market, India, Export and Import of Modules, 2001-2011 69
8.7 Solar PV Market, India, Carbon Savings, ‘000 Tons, 2001-2025 71
8.8 Solar PV Market, India, Homes Powered, ‘000, 2001-2025 73
8.9 Solar PV Market, India, LCOE, $/kWh, 2011-2025 74
9 Solar PV Market, India, Deal Analysis 77
9.1 Solar PV Market, India, Deal Value vs Deal Volume, 2004-2011 77
9.2 Solar PV Market, India, Split by Deal Type, %, 2011 78
9.3 Solar PV Market, India, Asset Finance Deals, India vs Global, 2007-2011 79
9.4 Solar PV Market, India, Asset Finance Deals, Comparison Among Various Renewable Energy
Sources, 2011 80
10 Renewable Energy Policy Framework, India 81
10.1 Financial Incentives and Policy Support for Renewable Energy Sources, India, Major Policies
81
10.1.1 Electricity Act 2003 81
10.1.2 Integrated Energy Policy 81
10.1.3 Renewable Portfolio Standards 82
10.1.4 Tariff Policy 2006 83
10.1.5 Ladakh Renewable Energy Initiative 84

5. 10.1.6 Remote Village Electrification Program 84
10.1.7 Central Financial Assistance for Renewable Projects 84
10.1.8 Renewable Energy Certificates 88
10.1.9 Foreign Investment Policy 91
10.2 Financial Incentives and Policy Support for Solar PV, India 91
10.2.1 National Solar Mission 92
10.2.2 Generation Based Incentives 96
10.2.3 Central Financial Assistance for Solar Power Projects 97
10.2.4 India Semiconductor Policy 97
10.2.5 Demonstration and Promotion of Solar PV Devices/Systems in Urban Areas and Industry
98
10.2.6 Development of Solar Cities Scheme 99
10.2.7 Energy Efficient Solar/Green Buildings Scheme 101
11 Solar PV Market, India, Company Profiles 102
11.1 Company Snapshot : Moser Baer Solar Limited 102
11.1.1 Moser Baer Solar Limited, Company Overview 102
11.1.2 Moser Baer Solar Limited, Business Overview 103
11.1.3 Moser Baer Solar Limited, Major Products and Services 104
11.1.4 Moser Baer Solar Limited, Locations and Subsidiaries 104
11.2 Company Snapshot : XL Energy Limited 106
11.2.1 XL Energy Limited, Company Overview 106
11.2.2 XL Energy Limited, Business Overview 106
11.2.3 XL Energy Limited, Major Products and Services 107
11.2.4 XL Energy Limited, Key Financial Performance 108
11.2.5 XL Energy Limited, Locations and Subsidiaries 109
11.3 Company Snapshot : Adani Power Limited 110
11.3.1 Adani Power Limited, Company Overview 110
11.3.2 Adani Power Limited, Business Overview 110
11.3.3 Adani Power Limited, Major Products and Services 111
11.3.4 Adani Power Limited, Key Financial Performance 112
11.3.5 Adani Power Limited, SWOT Analysis 113
11.3.6 Adani Power Limited, Locations and Subsidiaries 116
11.4 Company Snapshot : Reliance Power Limited 118
11.4.1 Reliance Power Limited, Company Overview 118
11.4.2 Reliance Power Limited, Business Overview 118
11.4.3 Reliance Power Limited, Major Products and Services 119
11.4.4 Reliance Power Limited, Key Financial Performance 120
11.4.5 Reliance Power Limited, SWOT Analysis 121
11.4.6 Reliance Power Limited, Locations and Subsidiaries 124
12 Appendix 125
12.1 Abbreviations 125
12.2 Market Definitions 126

6. 12.3 Methodology 127
12.3.1 Secondary Research 127
12.3.2 Primary Research 127
12.3.3 Modeling and Forecasting 127
12.3.4 Market Estimates and Assumptions 128
12.3.5 Contact Us 129
12.3.6 Disclaimer 129
1.1 List of Tables
Table 1: Carbon Emissions, Global, MMT, 2001-2011 15
Table 2: Primary Energy Consumption, Global, Mtoe, 2001-2025 17
Table 3: Renewable Power Market, Global, Cumulative Installed Capacity by Fuel Type, MW,
2001–2025 21
Table 4: Renewable Power Market, Global, Power Generation by Fuel Type, GWh, 2001–2025 23
Table 5: Renewable Power Market, Global, Cumulative Installed Capacity Split by Source Type,
%, 2001–2025 24
Table 6: Renewable Power Market, Global, Net Capacity Additions by Source Type, MW,
2011–2025 25
Table 7: Renewable Power Market, Global, Comparison among Power Sources 26
Table 8: Solar PV Market, Global, Installed Capacity, MW, 2001–2025 29
Table 9: Solar PV Market, Global, Power Generation, GWh, 2001–2025 31
Table 10: Solar PV Market, Global, Cumulative Installed Capacity Split by Country, %, 2011 33
Table 11: Solar PV Market, Global, Net Capacity Additions in Major Countries, MW, 2011–2025 34
Table 12: Solar PV Market, Global, New Investment, $m, 2012-2025 36
Table 13: Solar PV Market, Global, Cost Break-up of a Grid Connected PV System, %, 2011 37
Table 14: Solar PV Market, Global, Cost Break-up of an Off-grid PV System, %, 2011 38
Table 15: Solar PV Market, Global, LCOE in Major Countries, $/kWh, 2011 39
Table 16: Solar PV Market, Global, Import and Export of Modules, $m, 2007–2011 40
Table 17: Power Market, India, Cumulative Installed Capacity, MW, 2001–2025 44
Table 18: Power Market, India, Cumulative Installed Capacity by Fuel Type, MW, 2001–2025 46
Table 19: Power Market, India, Power Generation by Fuel Type, GWh, 2001–2025 47
Table 20: Power Market, India, Net Capacity Additions by Source Type, MW, 2011–2025 48
Table 21: Power Market, India, Comparison Between Power Sources, 2011–2025 49
Table 22: Renewable Power Market, India, Cumulative Installed Capacity, MW, 2001–2025 51
Table 23: Renewable Power Market, India, Cumulative Installed Capacity Split by Source Type, %,
2001–2025 53
Table 24: Renewable Power Market, India, Power Generation by Source Type, MW, 2001–2025
55
Table 25: Renewable Power Market, India, Net Capacity Additions by Source Type, MW,
2011–2025 56
Table 26: Renewable Power Market, India, Comparison of Renewable Power Sources, 2011 57
Table 27: Renewable Power Market, India, LCOE Comparison, $/kWh, 2011–2025 58

7. Table 28: Solar PV Market, India, Installed Capacity, MW, 2001-2025 61
Table 29: Solar PV Market, India, Power Generation, GWh, 2001-2025 63
Table 30: Solar PV Market, India, Cumulative Capacity Segmentation by On-grid and Off-grid,
MW, 2001-2011 64
Table 31: Solar PV Market, India, Annual Additions Segmentation by On-grid and Off-grid, MW,
2001-2011 65
Table 32: Solar PV Market, India, Cumulative Installed Capacity Segmentation by On-grid and Off-
grid, %, 2001-2011 66
Table 33: Solar PV Market, India, Annual Additions Segmentation by On-grid and Off-grid, %,
2001-2011 67
Table 34: Solar PV Market, India, Investment Trends, 2011-2025 69
Table 35: Solar PV Market, India, Export and Import of Modules , $m, 2006-2011 70
Table 36: Solar PV Market, India, Carbon Savings, ‘000 Tons, 2001-2025 72
Table 37: Solar PV Market, India, Homes Powered, ‘000, 2001-2025 74
Table 38: Solar PV Market, India, Assumptions for LCOE Calculation 75
Table 39: Solar PV Market, India, LCOE, $/kWh, 2011-2025 76
Table 40: Solar PV Market, India, Deal Value vs Deal Volume, 2004-2011 77
Table 41: Solar PV Market, India, Split by Deal Type, %, 2011 78
Table 42: Solar PV Market, India, Asset Finance Deals, India vs Global, 2007-2011 79
Table 43: Solar PV Market, India, Asset Finance Deals, Comparison Among Various Renewable
Energy Sources, 2011 80
Table 44: Renewable Power Market, India, RPS Specified by SERCs, 2010-2013 82
Table 45: Renewable Energy Market, India, CFA for Off-grid Renewable Energy Programs, 2011
85
Table 46: Renewable Power Market, India, CFA for Grid Interactive Renewable Energy Programs,
2010 86
Table 47: Renewable Power Market, India, IREDA Loan Disbursals, 2005-2012 86
Table 48: Renewable Power Market, India, Loans Sanctioned by IREDA, 2006-2011 87
Table 49: Renewable Power Market, India, Loan Disbursements by IREDA, 2006-2011 87
Table 50: Renewable Power Market, India, Capacity Sanctioned by IREDA, 2006-2011 88
Table 51: Renewable Power Market, India, REC Trading, Volume and Price, IEX, March to
December 2011 89
Table 52: Renewable Power Market, India, REC Trading, Volume and Price, PXIL, March to
December 2011 90
Table 53: Solar PV Market, India, NSM, Phase Wise Targets, 2010-2022 93
Table 54: Solar PV Market, India, NSM Mission Targets, Funding Requirements, INR billion 94
Table 55: Solar PV Market, India, Selected by NVVN, Phase I, Batch I and Batch II 95
Table 56: Solar PV Market, India, CFA for Off-Grid Projects 97
Table 57: Solar PV Market, India, CFA for Off-Grid Projects 97
Table 58: Solar PV Market, India, Applications Received Under the Semiconductor Policy 98
Table 59: Solar PV Market, India, Solar Cities Program, State List of 48 Cities with ‘In-Principle’
Approval, 2011 100

8. Table 60: Moser Baer Solar Limited, Major Products and Services 104
Table 61: Moser Baer Solar Limited, Other Locations and Subsidiaries 105
Table 62: XL Energy Limited, Major Products and Services 107
Table 63: XL Energy Limited, Other Locations and Subsidiaries 109
Table 64: Adani Power Limited, Major Products and Services 111
Table 65: Adani Power Limited., SWOT Analysis 113
Table 66: Adani Power Limited, Other Locations and Subsidiaries 117
Table 67: Reliance Power Limited, Major Products and Services 119
Table 68: Reliance Power Limited., SWOT Analysis 121
Table 69: Reliance Power Limited, Other Locations and Subsidiaries 124
Table 70: Abbreviations 125
Table 71: LCOE Calculation, Discount Rates by Technology 128
1.2 List of Figures
Figure 1: Solar PV Market, Global, Cumulative Installed Capacity, MW, 2001-2025 12
Figure 2: Solar PV Market, India, Installed Capacity, MW, 2001-2025 13
Figure 3: Carbon Emissions, Global, MMT, 2001-2011 15
Figure 4: Primary Energy Consumption, Global, Mtoe, 2001-2025 16
Figure 5: Renewable Power Market, Global, Cumulative Installed Capacity by Fuel Type MW,
2001–2025 20
Figure 6: Renewable Power Market, Global, Power Generation by Fuel Type, GWh, 2001–2025 22
Figure 7: Renewable Power Market, Global, Cumulative Installed Capacity Split by Source Type,
%, 2001–2025 24
Figure 8: Renewable Power Market, Global, Net Capacity Additions by Source Type, MW,
2011–2025 25
Figure 9: Renewable Power Market, Global, Comparison among Power Sources 26
Figure 10: Solar PV Market, Global, Installed Capacity, MW, 2001–2025 28
Figure 11: Solar PV Market, Global, Power Generation, GWh, 2001–2025 30
Figure 12: Solar PV Market, Global, Cumulative Installed Capacity Growth by Region, MW, 2011-
2025 32
Figure 13: Solar PV Market, Global, Cumulative Installed Capacity Split by Country, %, 2011 33
Figure 14: Solar PV Market, Global, Net Capacity Additions in Major Countries, MW, 2011–2025
34
Figure 15: Solar PV Market, Global, Comparison Between Key Countries 35
Figure 16: Solar PV Power Market, Global, New Investment, $m, 2012-2025 36
Figure 17: Solar PV Market, Global, Cost Break-up of a Grid Connected PV System, %, 2011 37
Figure 18: Solar PV Market, Global, Cost Break-up of an Off-grid PV System, %, 2011 38
Figure 19: Solar PV Market, Global, LCOE in Major Countries, $/kWh, 2011 39
Figure 20: Solar PV Market, Global, Import and Export of Modules, $m, 2007–2011 40
Figure 21: Solar PV Market, Global, Trade Flow of Modules, 2011 41
Figure 22: Solar PV Market, Global, Major Debt Providers, 2011 42
Figure 23: Power Market, India, Cumulative Installed Capacity, MW, 2001–2025 44

9. Figure 24: Power Market, India, Cumulative Installed Capacity by Fuel Type, MW, 2001–2025 45
Figure 25: Power Market, India, Power Generation by Fuel Type, GWh, 2001–2025 47
Figure 26: Power Market, India, Net Capacity Additions by Source Type, MW, 2011–2025 48
Figure 27: Power Market, India, Comparison Between Power Sources, 2011–2025 49
Figure 28: Renewable Power Market, India, Cumulative Installed Capacity, MW, 2001–2025 51
Figure 29: Renewable Power Market, India, Cumulative Installed Capacity Split by Source Type,
MW, 2011 and 2025 52
Figure 30: Renewable Power Market, India, Power Generation by Source Type, MW, 2001–2025
54
Figure 31: Renewable Power Market, India, Net Capacity Additions by Source Type, MW,
2011–2025 56
Figure 32: Renewable Power Market, India, Comparison of Renewable Power Sources, 2011 57
Figure 33: Renewable Power Market, India, LCOE Comparison, $/kWh, 2011 58
Figure 34: Solar PV Market, India, Installed Capacity, MW, 2001-2025 60
Figure 35: Solar PV Market, India, Power Generation, GWh, 2001-2025 62
Figure 36: Solar PV Market, India, Cumulative Installed Capacity Segmentation by On-grid and
Off-grid, MW, 2001-2011 64
Figure 37: Solar PV Market, India, Annual Additions Segmentation by On-grid and Off-grid, MW,
2001-2011 65
Figure 38: Solar PV Market, India, Cumulative Installed Capacity Segmentation by On-grid and
Off-grid, %, 2001-2011 66
Figure 39: Solar PV Market, India, Annual Additions Segmentation by On-grid and Off-grid, %,
2001-2011 67
Figure 40: Solar PV Market, India, Investment Trends, 2011-2025 68
Figure 41: Solar PV Market, India, Export and Import of Modules , $m, 2006-2011 70
Figure 42: Solar PV Market, India, Carbon Savings, ‘000 Tons, 2001-2025 71
Figure 43: Solar PV Market, India, Homes Powered, ‘000, 2001-2025 73
Figure 44: Solar PV Market, India, LCOE , $/kWh, 2011-2025 75
Figure 45: Solar PV Market, India, Deal Value vs Deal Volume, 2004-2011 77
Figure 46: Solar PV Market, India, Split by Deal Type, %, 2011 78
Figure 47: Solar PV Market, India, Asset Finance Deals, India vs Global, 2007-2011 79
Figure 48: Solar PV Market, India, Asset Finance Deals, Comparison Among Various Renewable
Energy Sources, 2011 80
Figure 49: Renewable Power Market, India, REC Trading, Volume and Price, IEX, March to
December 2011 89
Figure 50: Renewable Power Market, India, REC Trading, Volume and Price, PXIL, March to
December 2011 90
Figure 51: Solar PV Market, India, Annual Capacity Addition, MW, 2001-2011 92
Figure 52: Solar PV Market, India, Projects Selected by NVVN, Phase I, Batch I and Batch II 95
Figure 53: Solar PV Market, India, Presence of Companies Across Solar PV Value Chain 102
Figure 54: XL Energy Limited, Key Financial Performance 108
Figure 55: Adani Power Limited, Key Financial Performance 112

10. Figure 56: Reliance Power Limited, Key Financial Performance 120
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