The Gujarat Energy Development Agency (GEDA) to launch solar rooftop project for residential consumers
India: The Gujarat Energy
Development Agency (GEDA) have decided to launch the solar rooftop project for
residential consumers, wherein the residential property owners could connect
their power units with the electricity grid. In August 2015, the state
government had proposed the grid-connected units in the Gujarat Solar Power Policy.
As of FY17, GEDA have set a target for generating 50MW of electricity by
installing rooftop solar photovoltaic (SPV) units across Gujarat.
TechSci Research depicts that this move would increase the demand for
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.