In India, solar radiation remains available at most locations for about 300 days in a year. Annually, the country receives over 5,000 Trillion KWh solar energy, which is quite more than its total energy consumption. According to “Indian Solar Energy Market Analysis”, a new research report by RNCOS , the solar energy sector in India has a huge potential. Focusing on developing grid as well as off-grid PV applications, the country has been trying to expand the sector. With such initiatives, the PV installed capacity in the country is estimated to grow at a CAGR of around 49.5% during 2010-2014.
Research Analysis and Highlights
The report, spread over 95 pages, is an outcome of a careful research and coherent analysis of the current status and expected position of the solar sector in India. Facilitating the forecasts on solar thermal and solar PV installed capacity, with focus on various PV off-grid systems, the study also analyzes the government initiatives and policies at central and state levels which affect the sector’s prospects. The recent industry developments are also part of the research, which depicts a clear picture of the industry along with a balanced outlook on its potentials.
Some of the key findings of the report are:
- Mounting demand for off-grid PV applications in India.
- Rajasthan is a national leader in solar energy.
- Solar Street light is the fastest growing segment in SPV off-grid systems.
- Rising focus on solar parks.
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