Solar Energy Market in India Poised for Stupendous Growth

The solar energy market in India has witnessed an impressive growth during the past few years, with solar photovoltaic segment emerging as the major contributor towards the growth of the industry. This is mainly due to the increasing electricity demand, high irradiation levels, favorable government policies, and investments worth billions of dollars being made in this sector. Further, the government is keen to augment the solar energy share by concurrently enhancing infrastructural conditions in the nation, particularly with products, such as solar water heating systems and solar street lights, says our new research report “Indian Solar Energy Market Analysis”. The solar street lighting systems is expected to reach 160,000 units by 2013 end, growing at a CAGR of around 21% during FY2011to FY2013.

Our research identified that, apart from huge investments in solar power plants and the obligatory modification of the governmental buildings with solar technology, the demand for solar off-grid systems will quickly increase across several remote and un-electrified rural regions of the nation. However, only inexpensive products that can compete with the domestic low-cost solar products in India will have an opportunity to get into the rural regions.

Further, we observed that, thin film technology is attracting huge amount of investments by the manufacturers worldwide. Moreover, presence of several big players with many years of experience and diversifying production capacities coupled with the entrance of new players, which have the prospective to develop into important players, would eventually result into growth in coming years.

“Indian Solar Energy Market Analysis” focuses on the growing marketplace for solar industry at the domestic level and analyzes the current market trends along with future growth prospects of the industry. It contains detail data on cumulative installed PV capacity and future market potential of the key states, thereby, helping clients in identifying factors critical to their successful market penetration. Besides, the report analyzes current prevailing trends in the market, which will further help the experts to decide the growth rate in the coming years.

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