Solar energy is generated by technologies which harnesses the sun’s energy to create renewable source of power. It is a free source of energy which is sustainable, unlike fossil fuels which are limited. Solar energy does not emit any carbon gases which makes it cleaner and healthier for the environment.
Worldwide revenue from solar PV installation is expected to reach approximately USD 150 billion by 2024. Revenue during the period 2014 to 2016, grew at a CAGR of 8.7%. During this period installation were highest in Asia Pacific, followed by Europe, North America, Middle East and Africa. China solely has 44% of the global solar photovoltaic (PV) capacity.
In 2017, the United States, China, Japan and India are expected to generate 73% of the global PV demand. These countries are expected to dominate the solar power market in the coming decade. India is expected to reach 18.7 gigawatts capacity by 2017 surpassing Japan. For 2017, experts have identified India as being the most favoured market for growth of solar power. India is anticipated to become the third largest player in global solar market replacing Japan.
Our analysts feel that the outlook for India’s solar power sector is strong. The strong, clear and transparent renewable energy policy framework which India has, provides investors the confidence to invest.
It is projected that by 2040, renewable energy could generate 49% of the electricity in India. India has committed to increase the amount of electric power from clean energy resources to 40% by 2030. Under the Paris Agreement, India set a target of achieving installed capacity of a total of 175 GW of renewable energy by 2022. Out of this, 100 GW is the target set for solar power.
Why should the report be purchased?
The report ‘Assessment of India's Solar Power Sector 2017’ highlights key dynamics of the global and India’s solar power market. The growing opportunity in the sector in India, along with the emerging trends have been studied. Key players in the sector including Tata Power Solar System Limited, Vikram Solar, Waaree Energies Limited, Moser Bear Solar Limited, Reliance Solar Group. The report contains latest industry leaders’ opinions.
Research methodology and delivery time
The author has conducted in depth secondary research to arrive at key insights. Data collected from key public industry sources and publications has been scanned and analyzed impartially to present a clear picture of the industry. All recent developments which impact the sector dynamics have been captured and used to support the research hypothesis.
The report is available as single-site single-user license. The delivery time for the electronic version of the report is 2 business days as each copy undergoes thorough quality check and is updated with the most recent information available. The dispatch time for hard copies 4 business days, as each hard copy is custom printed for the client.
1. Analyst Opinion
2. Global Solar Power Sector
2.2 Market Statistics & Performance
2.3 Market Drivers
2.4 Market Challenges
2.6 Industry Speak
3. India Solar Power Sector
3.2 Market Statistics & Performance
3.3 Market Drivers
3.4 Market Challenges
3.6 Industry Speak
4. Competitive Landscape
4.1 Tata Power Solar System Limited
4.2 Vikram Solar
4.3 Waaree Energies Limited
4.4 Moser Bear Solar Limited
4.5 Reliance Solar Group
5. List of Charts and Graphs
6. Research Methodology
List of Charts and Graphs
1. Global Revenue from Solar Photovoltaics Installation (USD Billion, 2014-2020E)
2. Global PV Demand (Gigawatts, 2013-2022E)
3. Global Total PV Installed Capacity by Country (%, 2016)
4. Global New PV Installed Capacity by Country (%, 2016)
5. India Source Wise Estimated Potential of Renewable Power (as on March 31, 2016, %)
6. India Installed Capacity of Renewable Energy Sources, by Type (as of March 2016, megawatts)
7. India Installed Capacity of Utility-Scale Solar, by State (as of March 31, 2016, megawatts)
8. India Distribution of Solar Project Status (as of March 31, 2017, by developer)
9. India Projection of Solar Rooftop Capacity Additions (2016-2020, megawatts)