They have the money, resilience, and execution ability that can leave an indelible impact on India’s economy; but can the country’s corporates (C&I sector) open up a new growth engine for India’s solar movement? The time, it seems, has arrived.
As always in India, among the stakeholders, there will be many who will want to take the credit for the change, but perhaps the key reason is a combination of market alignments and luck.
On the market side, the sharp drop in prices that sustained right upto 2020, before tapering off and even increasing a little in 2021-22, opened up the possibilities of solar for corporates like nothing else. What held most firms back was inconsistent policy, variations between states and very limited financing.
What has changed is a global energy crisis, that has made every renewable energy source, especially solar, critical to users. Add to that the steadily building pressure of national targets for 2030 and beyond, which will have no meaning without visible progress on the ground now. That has meant a second big push from the government in India to clear up the roadblocks to solar growth in India for the C&l sector.
