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Floating Solar Surges: Govt. Support Narrows Cost Gap
18 Aug
Summary
- Government support could align floating solar costs with ground-mounted.
- India has potential for 102 GW of floating solar capacity.
- Tata Power and Vikram Solar are expanding their floating solar portfolios.
India's floating solar capacity is set for a major expansion, driven by government incentives that are reducing the cost disparity with traditional ground-mounted systems. The National Institute of Solar Energy estimates a substantial potential of 102 GW nationwide, with Maharashtra holding the largest share.
Companies such as Tata Power Renewable Energy and Vikram Solar are actively developing new projects. Tata Power Renewable Energy, with 200 MW of floating solar already in its portfolio, is eyeing further opportunities, noting that government support can offset the typical higher upfront costs. This strategy allows for the utilization of reservoirs, offering higher efficiency and water conservation benefits.
Vikram Solar, a key module manufacturer, has been involved in floating solar technology for years and sees standardization as a critical factor for scaling. The company is preparing to offer bundled solutions, including battery storage, to enhance renewable power availability. Government initiatives are expected to stimulate more tenders and accelerate the adoption of floating solar technology across India.
