India is the next best market for solar energy, according to a Lux Research report. The country has abundant sunlight, exploding demand, and a gigantic, mostly off-grid population.
Examining emerging markets for solar power, the company considered the quality of the solar resource, current electricity demand and favorable regulatory environment. Countries with high levels of energy imports and low grid efficiency may also be more inclined to encourage solar installations. Based on these criteria, it identifies India as a top target for solar energy.
India has an enormous energy gap. Demand is expected to double by 2030, and 400 million people in the country have no access to electricity. 40 GW of this demand is estimated to be addressable by solar. India also has the poorest grid infrastructure of the countries surveyed. Curently 30 percent of all electricity is lost during distribution due to poor infrastructure and theft of power. This makes it suitable for smaller, distributed installations of solar, as well as utility-size projects, since they can be used to serve off-grid populations and reduce electricity losses.
