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Indian solar power product market 2014-24 CAGR 11%

Fiinews by Fiinews
March 27, 2019
in Industry Sectors, Investment, Manufacturing, Power, Projects, Technology
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Subsidies available for solar industry

 

Vikram Solar Ltd.

 

The Indian solar power products market is projected to grow at a CAGR of more than 11% to surpass US$7.6 billion by 2024 on the back of increasingly stringent policy and regulatory framework and rising environmental concerns.

The Ministry of New and Renewable Energy has set a target of 100 GW of solar power generation capacity by 2022. To achieve the target, government has taken several initiatives in the form of offering subsidies, financial assistance, incentives to manufacturers, power producers and even customers.

The government has also partnered with several nodal agencies at the central and state levels for the installation of off-grid SPV systems, noted ResearchAndMarkets in its report on “India Solar Power Products Market: Competition, Forecast & Opportunities, 2014-2024”.

Subsidies are made available to the customers to encourage installation of grid connected rooftop photovoltaics, the report highlighted.

Additionally, rising per capita income and developments in the photovoltaic technologies are further anticipated to positively influence the Indian solar power products market during forecast period, according to the report.

Leading companies in the industry are: Tata Power Solar Systems Limited, Mundra Solar PV Limited, Vikram Solar Limited, Waaree Energies Limited, Jain Irrigation Systems Ltd, EMMVEE Photovoltaic Power Private Limited, V-GUARD INDUSTRIES LIMITED, C.R.I. Pumps Private Limited, Shakti Pumps (India) Limited, Kotak Urja Private Limited. fiinews.com

Tags: C.R.I. Pumps Private LimitedEMMVEE Photovoltaic Power Private LimitedJain Irrigation Systems LtdKotak Urja Private Limited.Mundra Solar PV LimitedResearchAndMarketsShakti Pumps (India) LimitedTata Power Solar Systems LimitedV-GUARD INDUSTRIES LIMITEDVikram Solar LimitedWaaree Energies Limited
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Fiinews.com features through news articles on business opportunities in the Indian market for the benefits of foreigners. It is also a platform for international businesses to showcase through elaborate articles on their products & services to the Indian consumers and corporations exploiting industrialisation of the country.

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