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Analysis | November 2012

PV Solar third-most important renewable energy source

Power sector market seeks value in products and services from companies that have the experience and knowledge with long-term commitment in various markets, tells Crompton Greaves to Power Today....

How big is the solar market across the globe and in India?
The solar market for CG products and services constituted a significant portion of our global renewables business during the calendar year 2012. As the solar market continues to generate exponential growth in utility-scale solar power generation facilities, CG is increasing its market share in this emerging market sector.

Today, PV is leveraging hydro and wind power as the third-most important renewable energy source for global installed capacity.

Who are your immediate competitors?
Globally, CG's competitors are ABB and Schneider Electric in the solar market product and services sector.

How competitive is CG when compared to Chinese manufacturers?
CG's utility-scale solar products and solutions are technically superior to Chinese products in the market at this time and we expect to retain our competitive edge with products that are technologically advanced. Today's power sector market seeks value in products and services from companies that have the experience and knowledge with long-term commitment in various markets. As a leading player across global markets, CG is well-positioned to support its clients as they execute projects across the globe.

How do you see the market growth for such products in next five years?
The utility-scale solar market is expected to grow with the increase of clean energy initiatives across the world. There are various scenarios that can enable the growth of solar power generation and these vary according to different factors. However, if policy-driven growth is experienced globally, then the continued price reduction of solar facilities will accelerate the continued large-scale deployment of PV solar facilities.

Armed with the right policy initiatives, there is a potential for around 40 to 77 GW of PV solar installation per year globally from 2012 to 2016. The global moderate scenario forecast has a potential of approximately 20 to 40 GW of PV solar installations per year between 2012 and 2016. With the right policy initiatives, India drives a potential for approximately 1.5 to 5 GW of PV solar installations per year between 2012 and 2016. The moderate scenario forecast in India has a potential for around 0.3 to 1 GW of PV solar installation per year from 2012 to 2016.

How much will be the revenue contribution to the company's overall sales?
Solar product and services are part of the consolidated sales data for the CG Power Group. Apart from India, which other countries does CG find good potential for its products? We have been witnessing an increased interest for our products and services in ongoing projects in North America, Europe, Australia, the Middle East, South Africa, and South America.

Apart from India, which other countries does CG find good potential for its products?
We have been witnessing an increased interest for our products and services in ongoing projects in North America, Europe, Australia, the Middle East, South Africa, and South America.

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