Summit Concludes with Call for New National Solar Goals
The sixth edition of the Mercom India Renewables Summit concluded last week at the Hyatt Regency in New Delhi, drawing record attendance from across India's clean energy sector. The two-day event brought together industry leaders, policymakers, and innovators to discuss the future of renewable energy in India.
Raj Prabhu, CEO of Mercom Capital Group, delivered a keynote urging policymakers and industry leaders to define India's next phase of renewable energy growth. He warned that the country's rapidly expanding solar manufacturing capacity requires significantly greater long-term demand to remain competitive.
According to Prabhu, India has reached a pivotal moment in its energy transition. With the country on track to achieve its 2030 solar deployment target well ahead of schedule—possibly as early as the first half of 2028—the industry needs a new long-term roadmap that matches the scale of investment across the manufacturing value chain.
Demand Must Keep Pace with Manufacturing Capacity
Prabhu noted that while domestic solar module and cell manufacturing capacity continues to expand rapidly, procurement activity has slowed, creating uncertainty for future investment decisions. He emphasized the need for greater visibility into demand beyond current 2030 targets to avoid a growing imbalance between supply and demand.
"India has built tremendous momentum over the past few years," said Prabhu. "The challenge now is ensuring that demand keeps pace with manufacturing capacity. The next phase of growth requires long-term policy certainty so manufacturers, developers, investors, and financiers can continue investing with confidence."
Key Policy Recommendations
Prabhu outlined several policy recommendations to sustain India's renewable energy momentum:
- Establish new national solar goals beyond 2030: Announce the next phase of India's solar deployment strategy before current targets are achieved. Mercom's market outlook suggests India could reach its existing solar target as early as the first half of 2028.
- Target 750-1000 GW solar installations over the next decade: This level of deployment would better align future demand with India's expanding manufacturing base and provide long-term market certainty.
- Expand PM-Surya Ghar rooftop solar program to 100 GW: Distributed solar can become a major driver of future demand while broadening participation in the clean energy transition.
- Introduce a 100-GW solar open access target: This would drive additional electricity demand from commercial and industrial consumers, including emerging sectors like data centers.
- Extend the PM-KUSUM program: Renewable energy is an essential pillar of India's long-term energy security strategy, reducing dependence on imported fossil fuels.
Energy Security and National Security
Prabhu stressed that renewable energy has become a matter of national security. "Recent geopolitical events have reminded us why energy independence matters," he added. Accelerating electrification across transportation, industry, and the power sector, combined with greater deployment of solar and energy storage, would strengthen India's energy independence.
Summit Highlights and Awards
Held under the theme "Where Policy Meets Ambition," the summit brought together policymakers, regulators, developers, manufacturers, investors, and technology providers. It also hosted the Mercom India Awards 2026, recognizing excellence across 13 categories. The awards were presided over by India's Union Minister for New and Renewable Energy, Pralhad Venkatesh Joshi, and Mercom Capital Group CEO Raj Prabhu.
Supporting organizations included Signature Partner SAEL, Platinum Partners REC Limited, Atlanta Electricals, GenX Private Limited, and Emmvee Solar. Other partners included Gautam Solar, SKV Law Offices, Vikram Solar, Saatvik Green Energy, and many more.
The event was supported by Solar Energy Corporation of India (SECI), National Institute of Solar Energy (NISE), Power Finance Corporation Ltd (PFC), Indian Solar Manufacturers Association (ISMA), and other key industry bodies.
