Falling prices of PV Panels, Rising prices of electricity from the grid supply, economic growth and changing lifestyle, net- metering and government policies and subsidies will drive the solar photovoltaic market.
According to India Solar Photovoltaic Market Outlook, 2021, the installed capacity for solar photovoltaic market in India is expected to reach 1500 MW till 2021. Crystalline Silicon type solar photovoltaics are expected to lead the market in terms of technology. Off grid solar photovoltaic system are expected to cover more than half of the market by 2021.The report reveals that Emmvee, TATA BP Solar and Vikram Solar are the leading players in Indian solar photovoltaic market and their revenue share is expected to grow over the forecasted period, owing to their expansion plans and widening of dealership networks. India Solar Photovoltaic Market Outlook, 2021 discusses the following aspects of solar PV in India:
India has achieved cumulative installed capacity of 3 GW solar PV in the year ending 2014. Gujarat, Rajasthan, Madhya Pradesh, Maharashtra and Andhra Pradesh are the top 5 states which contribute more than 85% of the total solar PV capacity installed in the country. The government policies have been the main reason for the growth in the solar energy sector. Manufacturing facilities and the declining prices of the PV modules in India will make the PV market with a boom in the future.
OriginalPost: LauraWoods
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