Government Curbing Reliance on Fuel Import Driving Indian Solar Power Industry

India relies heavily on import of high calorific coal, gas and oil for energy generation and has emerged as the fourth largest energy consumer and the third largest importer of crude oil and coal, putting high pressure on Current Account deficit (CAD). In order to reduce the CAD Government is curbing reliance on fuel import by promoting solar power industry for smooth grids functioning and to meet the ever-growing demand of energy.

Further, through state incentive policy and JNNSM initiatives, more foreign investors and domestic players are focusing in India for setting up solar park across the country. Moreover with reducing price of solar PV panels domestic manufacturing of solar PV panel becomes more cost effective and feasible. Therefore, based on the above factors, the India solar power market by annual PV installed capacity is projected to grow at a CAGR of around 14% during the forecasted period 2014-2020.

The report ?Indian Solar Power Industry Outlook 2020? is compiled study on the market and existence on the solar power market and growth in India. Besides that, the report exhibits the emerging trends and drivers which are boosting the solar power market in India such as government policy relying on unconventional source of energy to bridge the demand gab of electricity, technology advancement reducing the cost of solar cell.

Additionally, our report offers market data divided into various applications of solar products in off ?grid and grid market. In order to provide thorough sight of the market we have given exhaustive research finding for solar power parks installment activities. The report also provides the latest updates on the states wise development in solar power parks installment.

Moreover the report also includes brief profiles of key solar power companies in India. We have tried to provide the insight of current market scenario and existing competition to our customers. Overall, the research contains exhaustive information that will help clients in formulating market strategies and assessing opportunity areas in the Indian solar power market.

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