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The solar industry has immense potential for a tropical country like India where around 45% of households, mainly rural ones, do not have access to electricity, says our new research report “Indian Solar Energy Market Outlook 2012”. The industry has witnessed rapid growth over the past few years and is projected to grow further in future.

India is blessed with ample solar radiation and most part of the country receives 300 to 330 sunny days in a year. India receives solar energy equivalent to more than 5,000 Trillion kWh per year, which is far more than its total annual energy consumption. The country’s geographical location, large population and government support are assisting it to become one of the most rapidly emerging solar energy markets in the world. Consequently, the country is becoming a favorite investment destination for both local and global players.

Demand for solar products has been rapidly rising for the recent years, especially in rural areas, and is expected to continue growing substantially during our forecast period (2011-2013). Solar street lighting systems, home lighting systems, power plants, solar cookers, solar pumps and solar water heating systems are the most popular applications in India. The number of solar water heating systems is projected to grow at a CAGR of about 22% between 2011 and 2013.

Many states have started promoting solar based applications by giving incentives and tax savings. States like Gujarat and Rajasthan have formulated transparent and progressive regulatory framework in order to boost the solar industry. Besides, states like Delhi, Uttar Pradesh, West Bengal, Maharashtra and Chandigarh are promoting solar energy in rural, urban and semi urban areas.

The report provides an extensive research and rational analysis of the solar industry in India. It thoroughly examines current industry trends, with focus on recent changes in the state and country level regulatory environment. The report will assist investors to understand the market dynamics and get an insight into the future outlook of solar power market in India.

Besides giving projections for various energy indicators, the report contains forecast for different segments of the solar power industry based on feasible solar industry environment. These include:

- Solar Street Lighting System
- Solar Home Lighting System
- Solar Lantern
- Solar Photovoltaic Pumps
- Solar Water Heating System
- Solar Cookers

The forecast given in this report is not based on a complex economic model, but is intended as a rough guide to the direction in which the market is likely to move. This forecast is based on correlations between past market growth, growth of base drivers and possible impact of recession in the economy.

The report also includes brief information about the key players such as BHEL, BEL, CEL, TATA BP Solar India Limited, Solar Semiconductor and Moser Baer India Limited.