Cumulative Solar PV-installed capacity in India is projected to grow at a CAGR of 31.5% during 2012-2016, says RNCOS in its latest research report.
Noida, UP -- (SBWIRE) -- 04/23/2014 -- India’s focus towards solar power is rising due to growing need for energy and shortages in conventional power generation sources. With this demand for solar photovoltaic panels and products are also increasing. As a result manufacturers are expanding their existing capacities to meet the rising demand in the country. Also, the India government has initiated subsidy schemes to support domestic manufactures which would help domestic panel producers to scale up operations and improve their cost competitiveness.
As per our report, “Indian Solar Power Industry Outlook to 2017”, 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. Moreover, country’s rapidly rising primary energy and electricity needs, overdependence on coal for electricity generation, and costly oil and gas imports; are making solar power a better option than to conventional energy sources. Considering the above factors, the cumulative solar PV-installed capacity in India is projected to grow at a CAGR of 31.5% during 2012-2016.
The report provides a comprehensive analysis of 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.
Additionally, the report delves into the 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.
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