The Gujarat Energy Development Agency (GEDA) to launch solar rooftop project for residential consumers

India: The Gujarat Energy Development Agency (GEDA) have decided to launch the solar rooftop project for residential consumers, wherein the residential property owners could connect their power units with the electricity grid. In August 2015, the state government had proposed the grid-connected units in the Gujarat Solar Power Policy. As of FY17, GEDA have set a target for generating 50MW of electricity by installing rooftop solar photovoltaic (SPV) units across Gujarat.

TechSci Research depicts that this move would increase the demand for solar modules and products, thereby increasing the scope for solar equipment market in India. Also, the rising government investments, increasing technological advancements, growing environmental concerns, government support in the form of favorable policies, subsidies and tax incentives are expected to have a significant positive impact on the solar power equipment market in the ensuing years.

According to released report of TechSci Research “India Solar Power Equipment Market Forecast & Opportunities, 2020”, the solar power equipment market in India is projected to surpass USD4 billion by 2020. Growing demand for renewable sources of energy and favorable government incentives to drive India solar equipment market through 2020. Constantly improving solar equipment technologies, advanced manufacturing processes for production of hi-tech equipment and anticipated decline in equipment prices is projected to further drive the solar equipment market over the next five years.