Rising Off-grid PV Applications Propelling Solar Power in India.
Driven by country’s rapidly rising primary energy and electricity needs, overdependence on coal for electricity generation, and costly oil and gas imports; India is poised to become a potentially global leader in PV technology.
Above all, India’s endowment with plentiful irradiation makes PV lucrative to the nation’s energy strategy. Moreover, the market potential for captive power plants, telecom towers, and rural electrification has created an off-grid solar market in India, which is forecasted to install more than 1 GW per year by 2016.
Further, country’s installed capacity for solar power generation has increased tremendously during the last few years owing to growing cost of conventional energy and declining cost of solar power. With this rising electricity demand, high irradiation levels, favorable government policies, and huge investments, the cumulative solar PV-installed capacity in India is projected to grow at a CAGR of 31.5% during 2012-2016.
The report “Indian Solar Power Industry Outlook to 2017”, highlights the industry performance and future outlook of solar power sector with in-depth analysis of both solar photovoltaic and solar thermal. In addition, the report has analyzed some of the top states in the country to further clarify the picture of solar power installation and solar projects sanctioned. State-wise analysis also covers the regulatory environment and recent developments in the various states.
Besides this, the report also covers analysis of various solar technologies related to PV and thermal applications. A section on emerging market trends is also provided in the solar report as manufacturing of indigenous solar products is on rise, grid parity in India, solar rooftop, declining solar photovoltaic cost etc are well exhibited. In addition, key player’s analysis is also provided to facilitate current market scenario and get accustomed to the existing competition. Recent developments of key players coupled with strategic analysis of their strengths and weaknesses further complete the picture of competitive landscape. In all, the report presents a comprehensive look at the sector’s past, present, and future scenario.