India Solar Photovoltaic Market Overview, 2022-28

India Solar Photovoltaic Market Overview, 2022-28

Indian solar photovoltaic market has seen tremendous growth in terms of new capacity addition in the last four years. The governance of the market is maintained by large domestic and international project developers with partial intervention of government. With increasing focus of the government on development of renewable energy sector, solar photovoltaic market in India has already taken the flight to achieve the target of 100 GW solar power generation capacities by 2022. Various subsidies and incentives provided by the government have created good amount of awareness and agreeableness among the end users for adopting solar power as an alternative source of energy over conventional sources.

According to “India Solar Photovoltaic Market Overview, 2022-28”, the market is expected to grow with more than 13% CAGR. Major solar installations so far were dominated by the Southern region of India. However while approaching to 2022, it is predicted by the ongoing developments and projects in pipeline that, Northern region will surpass the Southern region with maximum installed solar PV capacity. Standard and advanced Multicrystalline module technology has the highest share with increasing scope and research on p-type and n-type monocrystalline silicon modules. With the increased cell efficiency of such advanced photovoltaic modules, solar plants capacity utilization factor has also gone up. The report discloses that companies like Vikram Solar, Waaree Energies and Tata Power Solar tops the table of maximum installed solar PV capacity and are expected to grow over the forecasted period owing to their expansion plans and widening of dealership networks. Other major companies operating in the market include names like Moser Baer, XL Energy, Alpex Exports, Renwsys India, Emmvee Photovoltics, Lanco Solar, Saatvik Green Energy, Kotak Urja, Goldi Green Technoligies and Surana Solar.

Technological developments in solar rooftop PV plants such as Net-Metering, Feed-In Tariff, Accelerated Depreciation Mechanism, Generation Based Incentives, etc., have urged the use of clean and renewable solar energy at small scale and this is expected to boost the solar rooftop PV market in the coming years. It will also fulfil government's mission of lightening each and every household in the country. Mega solar power plants are developing at a full swing with huge amount of domestic and foreign investments in the sector due to ease in land acquisition and other legal approvals from the central and state government. Government of India has also announced a National Green Corridor Program to enable the flow of renewable energy into national grid network.

“India Solar Photovoltaic Market Overview, 2022-28” discusses the following aspects of solar photovoltaic in India:
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The report gives an in-depth understanding of solar photovoltaic market in India:
• India Renewable Energy Market Outlook
• India Renewable Energy Market Size By Cumulative Capacity & Forecast
• India Renewable Energy Market Size By New Installed Capacity & Forecast
• India Renewable Energy Market Segmental Analysis: By Region, By State, By Type
• India Solar Photovoltaic Market Size By Cumulative Capacity & Forecast
• India Solar Photovoltaic Market Size By New Installed Capacity & Forecast
• India Solar Photovoltaic Market Segmental Analysis: By Company, Region, By State, By End User
• The key vendors in this market space

This report can be useful to Industry consultants, manufacturers and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

Report Methodology
The information contained in this report is based upon both primary and secondary research. Primary research included interviews with various channel partners/vendors of solar modules in India. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.