India Rooftop Solar Market to be Led by Industrial Segment Through 2029
Rising environmental
concerns and favorable government policies are expected to
boost the India rooftop solar
market during the forecast period.
According to TechSci
Research report, “India Rooftop Solar Market - By Region, Competition,
Forecast & Opportunities, 2029,”
the rooftop solar market in India is predicted to increase during the forecast
period due to the abundance of daytime solar energy and the rising use of
renewable energy for electricity generation.
Customers can shield
their rooftop solar PV system investments from fluctuating electricity costs.
End-use industries can estimate their electricity generation costs, during the
forecast period, as the cost of the electricity produced by photovoltaics can
be easily quantified. This trend will have a positive effect on the market
environment over the forecast period.
For an illusion, TATA
Power announced in October 2022 that it would construct a 1,000 MW rooftop
solar project within the next upcoming five years in Rajasthan. Similarly, TATA
Power announced the installation of rooftop solar systems in conjunction with
Union Bank to alleviate the pressure on the micro, small, and medium
enterprises (MSME) sector caused by rising power costs and grid demand. The
Uttar Pradesh Government also announced its planning to construct rooftop solar
projects for government and semi-government offices and buildings in 2022.
Browse over xx
market data Figures spread through 70 Pages and an in-depth TOC on the “India Rooftop Solar Market.”
The India rooftop
solar market is divided into segmented by technology, grid-type, end-use, and
region. Based on technology, the market is divided into thin film and
crystalline silicon. Based on grid-type, the market is divided into grid
connected and off-grid. Based on end use, the market is divided into
residential, commercial, and industrial. Based on region, the market is
segmented into north India, south India, west India, and east India .
Based on the technology,
the market is divided into crystalline silicon PV and thin film PV. The
crystalline silicon PV segment holds the largest market share and is expected
to grow significantly in the future. Due to their higher efficiency and
dependability, crystalline panels are the most used type of solar panel in both
residential and commercial settings. Based on end-use, the
industrial segment is expected to dominate the market over the next few years.
The expansion of the business and industrial sectors is dependent on the
creation of cutting-edge technologies and supportive policies. Rather than just
considering housetop planetary groups with the matrix filling in as capacity
(net/gross metering), Indian specialists need to decide for the roof tops so
that solar can easily fit on the roofs in the industrial sector.
The combination produces electricity at a lower cost than diesel generators and the conventional grid supply. The commercial and industrial sectors in India are expected to see significant market expansion over the forecast period due to affordability and technology demand. The commercial and industrial sectors typically incur higher electricity costs as one of the largest energy consumers. The industry has effective use profiles and stands to benefit from the installation of rooftop solar PV systems on large roofs. A growing number of commercial properties in India are preferring to rent out spaces with a permanent roof.
Key market players in the India rooftop solar
market include:
- Cleantech
Solar Energy India Pvt. Ltd
- Fourth
Partner Energy Pvt. Ltd
- Amplus
Solar Power Pvt. Ltd
- Clean
Max Enviro Energy Solutions Pvt. Ltd
- Sunsource
Energy Pvt. Ltd
- Orb
Energy Private Limited
- Tata
Power Solar Systems Limited
- Mahindra
Susten Pvt. Ltd
- Growatt
New Energy Technology Co. Ltd
- Sungrow
Power Supply Co. Ltd
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“The India rooftop
solar market is expected to expand during the next few years. High-wattage
modules and integrated battery energy storage have enhanced electricity
generation, driving the rooftop solar market in the country. India's housetop
sunlight-based market would certainly extend with a sufficient number and
assortment of excellent rooftop solar plates. The market is likely to benefit
from clean energy programs, targets, and projects in the pipeline, as
innovation and advancements in products increase, and more home machines that utilize
power become accessible. There is a rise in the preference for housetop sun-oriented
photovoltaic frameworks in private structures to lessen the expense,” said Mr.
Karan Chechi, Research Director at TechSci Research, a research-based global
management consulting firm.
India Rooftop Solar Market By Technology (Thin Film, Crystalline Silicon), by Grid-type (Grid Connected, Off-grid), by End-use (Residential, Commercial, Industrial), By Region, Competition, Forecast, and Opportunities, 2029 has evaluated the future growth potential of India rooftop solar market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the India rooftop solar market.
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