Wednesday, 23 March 2011

Solar energy growing in India
13 March 2011

According to a latest report named as Indian Solar Energy Market Outlook 2012, the installation of solar power in India has been developing at an extraordinary speed during the last few years. The solar power has appeared as one of the very possible as well as commercially profitable sector in the entire renewable energy space. The dedication of the government for increasing the green and clean energy has supported for this high growth.

There are more capability for deploying the off-grid photovoltaic depending upon the actual requirements and benefits in the areas like urban applications, rural lighting, electrification for powering the irrigation pump sets, etc. The private sector companies have been struggling to use the huge market potentials in this sector and during the next few years, the growth opportunities are expected to attract new market companies as well as make the market more competitive.

Many states in the country have been installing photovoltaic power plants and with the realization of National Solar Mission and the annual photovoltaic installed capacity is expected to develop at CAGR of 134% in 2009-2013. As per the study, the country will very soon become fastest growing energy consumer in the world by 2009-2013 next to China and other huge emerging market economies. Apart from this as the competitiveness of industrial sector is developing, the consumption of energy in the country will increase in the next years and support in additional fuel for developing renewable energy sector in the country.

The report was created to estimate the growth possibilities of the country in solar power sector as well as other sectors. The report features the present industry trends along with recent changes in country and state level regulatory environment. This report is expected to support the investors for knowing the market dynamics and estimate the future outlook of the solar power market in the country.