MNRE have set up three panels to improve the quality control of solar equipment

India: The Ministry of New and Renewable Energy (MNRE) have set up three panels, out of which one panel would be preparing policies for testing laboratories, second panel would focus on setting new technology and product standards and the third panel would focus on regulations governing solar products. These panels were set up in order to establish a regulatory mechanism for solar products. According to MNRE, solar projects worth 21GW has been already bid out as on FY16.  

TechSci Research depicts that this move would improve the quality control of various solar modules and products, thereby increasing the scope for solar equipment market in India. Also, the rising government investments, increasing technological advancements, growing environmental concerns, government support in the form of favorable policies, subsidies and tax incentives are expected to have a significant positive impact on the solar power equipment market in the ensuing years.

According to released report of TechSci Research “India Solar Power Equipment Market Forecast & Opportunities, 2020”, the solar power equipment market in India is projected to surpass USD4 billion by 2020. Growing demand for renewable sources of energy and favorable government incentives to drive India solar equipment market through 2020. Constantly improving solar equipment technologies, advanced manufacturing processes for production of hi-tech equipment and anticipated decline in equipment prices is projected to further drive the solar equipment market over the next five years.