Wednesday, August 20, 2014: India has a vast solar energy potential and the country’s geographic location is the main factor behind it. The country receives around 3,000 hours of sunshine annually which makes solar energy the most-suited energy source in this country. The solar power sector is quite influential in the economic and political scenario in India.
India’s energy sector has seen a huge gap due to industrial development in the country along with a a huge growth in the country’s population. Solar energy has the potential to fill in the gap between demand and supply in India’s energy sector. State solar policies, JNNSM and increased enforcement of RPO have been giving rise to India’s installed solar power capacity.
Long term plans have been chalked out by the Indian government to achieve solar power generation capacity of 20,000 MW by 2020, to be increased to 100,000 MW by 2030 and further to 200,000 MW by 2050. Analysts have predicted that the Solar Power Market in India will grow at a CAGR of 43.2 per cent between 2013 and 2018. A report has also been published about the same. This report covers the segmentation of the solar power market in our country.
