Chinese solar panel manufacturer says it now claims about a quarter of the market share in India. File photo by Bill Greenblatt/UPI | License Photo
Sept. 19 (UPI) -- Chinese renewable power company Trina Solar said it now claims a quarter of the market share in India after setting a milestone for shipments.
Since its first shipment in 2010, the company said Tuesday it's now shipped a total of 3 gigawatts worth of solar power modules to India, claiming about 25 percent of the market share to date.
"With photovoltaic modules operational in several large projects, India remains one of the most important markets for growth in the region," the company said in a statement. "Trina will continue to play a part in the contribution towards India's national target of 100 GW solar power generation capacity by 2022."
India aims to triple its renewable power capacity by 2022 to 175 gigawatts by drawing on new solar and wind energy sources.
India is No. 4 in the world in terms of new solar power, No. 4 in the world based on cumulative wind power capacity, and the government in New Delhi said it's committed to honoring pledges made toward the global Paris climate agreement.
The International Energy Agency estimated the cost of utility-scale solar power projects have declined by about 60 percent since 2011 and could drop another 25 percent by 2021. In response, investments in solar photovoltaics increased 20 percent last year.
Apart from abating emissions, a report on India's energy sector from the International Renewable Energy Agency found the government could save on health-related costs and create more jobs while at the same time seeing the demand for coal and oil products drop between 17 percent and 23 percent by 2030 through low-carbon efforts.
Nearly half of India's energy comes from oil and natural gas, and coal still dominates the power sector. The government in July held its first advisory council meeting to lay out an ambitious road map to cut oil and gas imports by 10 percent.