The wait for the Jawaharlal Nehru National Solar Mission (JNNSM) Phase II policy seems to be over with the Ministry of New and Renewable Energy (MNRE) releasing the draft policy in December 2012. Based on the experience of Phase I, a larger agenda has been envisaged under the second phase of the mission.

The Jawaharlal Nehru National Solar Mission (JNNSM) and the Gujarat Solar Policy have provided a large market for thin film technology. Until 2010, most of the country's solar energy development was dominated by off-grid systems based on crystalline silicon technology.

Private equity (PE) investment in the Indian renewable energy space surged ahead in 2011, with both deal volumes and average deal values increasing manifold over the previous years.

The policy environment over the past year has helped set the stage for a more competitive renewable energy market in India. The current capacity has been achieved largely due to supportive legal framework anchored in the Electricity Act, 2003, which has been complemented by capital subsidies, feed-in tarriffs (FiTs), accelerated depreciation and, more recently, generation-based incentives (GBI).