The hybrid power solutions market in India includes the combination of renewable energy sources such as solar and wind with conventional power generation techniques to establish a more sustainable and dependable energy system.
In 2021, total power generated in India (including renewable sources) was 1.23 trillion units. It reached 1.79 trillion units in 2024, expanding at a compound annual growth rate (CAGR) of ~13.25% during the 2021 - 2024 period. A hybrid power facility that integrates wind and solar energy optimizes energy generation and guarantees consistent power supply throughout the day and year by leveraging complementary energy resources.
The rising use of hybrid power generation, along with enhanced fuel-efficient power production, is driving the market's expansion.
Favorable Government Initiatives
Introduced in December 2014, the initiative seeks to assist solar power project developers by offering ready land and shared infrastructure, minimizing expenses and time delays in establishing extensive solar parks. Originally aimed at 20,000 MW of installed capacity, the initiative was increased to 40,000 MW by 2017, with solar parks expected to be established by 2025-26 in different States and Union Territories.
In 2021, total power generated in India (including renewable sources) was 1.23 trillion units. It reached 1.79 trillion units in 2024, expanding at a compound annual growth rate (CAGR) of ~13.25% during the 2021 - 2024 period. A hybrid power facility that integrates wind and solar energy optimizes energy generation and guarantees consistent power supply throughout the day and year by leveraging complementary energy resources.
The rising use of hybrid power generation, along with enhanced fuel-efficient power production, is driving the market's expansion.
Market drivers:
The Indian government has established ambitious renewable energy goals, including 500 GW by 2030, promoting the use of hybrid power solutions to satisfy increasing energy demands. Initiatives such as the Production-Linked Incentive (PLI) program for renewable energy producers and financial support for hybrid system installations lower economic obstacles for enterprises and consumers.Market Trends:
Improvements in energy storage technologies, like lithium-ion batteries, are facilitating better storage and use of renewable energy in hybrid power systems. Enhanced storage solutions are boosting grid stability and dependability, enabling hybrid systems to better handle intermittent renewable energy sources such as solar and wind.Favorable Government Initiatives
Introduced in December 2014, the initiative seeks to assist solar power project developers by offering ready land and shared infrastructure, minimizing expenses and time delays in establishing extensive solar parks. Originally aimed at 20,000 MW of installed capacity, the initiative was increased to 40,000 MW by 2017, with solar parks expected to be established by 2025-26 in different States and Union Territories.
Table of Contents
Chapter 1: Executive SummaryChapter 2: Socio-Economic Indicators
Chapter 3: Introduction
Chapter 4: Market Overview
Chapter 5: Market Influencers
Chapter 6: Market Trends
Chapter 7: Government Initiatives
Chapter 8: Competitive Landscape
Chapter 9: Recent Developments
Chapter 10: Appendix
Companies Mentioned
- Adani Green Energy Limited
- GE Power India Limited
- Jaiprakash Power Ventures Limited
- JSW Energy Limited
- NHPC Limited
- PTC India Limited
- RattanIndia Power Limited
- SJVN Limited
- Tata Power Renewable Energy Limited
- Enel Green Power India Private Limited
