Tuesday, September 02, 2014: A target has been set by India that overall solar energy installed capacity of 20,000 MW needs to be achieved by 2022. As per estimates, this target, if achieved, will create an opportunity of $41.73 billion in the solar energy market in India till 2022.
The solar energy market in India is on a boom these days as government policies have been quite supportive and solar energy can be used to generate electricity quite efficiently in this country. As India is a summer special country located in the tropical region, it receives solar radiation in 250-300 days per year and that too with an average intensity of 200 MW/Km2. As per the government estimates India receives 5,000 trillion kWh per year. Most parts of the country receive 4-7 kWh per square metre per day.
Such a huge supply of solar energy provides huge opportunities for India as it can be used to meet the power demand. A report, Solar Energy Market in India 2014 – 2022, has covered some key topics like India’s energy position, need for renewable energy, solar energy policies, risks in solar energy markets, incentives and rebates provided by government, analysis of models, challenges for new players, future plans for the solar industry, recommendations for policy makers and so on.
The report has also mentioned several companies like Azure PowerIndia Pvt. Ltd., Indosolar Ltd., Lumos Design Technology, MicroSun Solar Tech Pvt. Ltd., Power Engineering & Automation Pvt. Ltd., Tata Power Solar Systems Ltd., Websol Energy Systems Ltd. And many more. ( Courtesy: Research and Markets)
