India Solar Rooftop Market is expected to grow at a robust CAGR
India Solar Rooftop
Market is expected to grow owing to reducing dependency on fossil fuels,
especially oil and coal, is a national security concern throughout the forecast
period.
According to TechSci
Research report, “India Solar
Rooftop Market – By Region,
Competition, Forecast and Opportunities, 2019-2029”, the India Solar
Rooftop Market is expected to register robust growth during the
forecast period.
With growing concerns about
climate change and its detrimental effects on the environment, there is a
global and national push towards reducing greenhouse gas emissions. Solar
rooftops, as a clean and renewable energy source, contribute to a significant
reduction in carbon emissions. Consumers, businesses, and government entities
increasingly opt for solar power to align with these environmental
sustainability goals. Growing awareness about environmental issues, including
climate change and air pollution, is driving the demand for clean and renewable
energy sources. Solar power aligns with sustainability and environmental goals.
The commercial and industrial sectors offer extensive opportunities due to
larger rooftop spaces and higher electricity consumption. Businesses can enjoy
substantial cost savings and demonstrate their commitment to sustainability
through solar installations.
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Based on connectivity, the On-Grid segment is expected to
dominate the market during the forecast period. The on-grid solar segment
benefits from technological advancements that enhance system performance.
High-efficiency solar panels, improved inverters, and energy storage solutions
are becoming more accessible, which can enhance the reliability and efficiency
of on-grid systems. Additionally, smart monitoring and control systems enable
users to optimize their energy production and consumption. Environmental
concerns are driving the adoption of on-grid solar systems, especially among
environmentally conscious consumers and businesses. Reducing carbon footprints
and contributing to a cleaner environment are key motivators for choosing solar
energy. Businesses, in particular, use their commitment to sustainability as a
selling point to attract eco-conscious customers and improve their brand image.
The on-grid segment in the commercial and industrial sectors is growing
significantly. Businesses are driven by cost savings, government incentives,
and corporate social responsibility goals. The availability of larger rooftop
spaces in industrial areas makes these installations attractive, and companies
are increasingly investing in solar to reduce operational costs. In conclusion,
the on-grid segment of the India Solar Rooftop Market is experiencing
considerable growth, driven by supportive government policies, falling costs,
grid integration, and growing environmental awareness. Technological
advancements and an increasing focus on sustainability are likely to further
propel this segment, making it a crucial part of India's renewable energy
landscape. Based on end-user, the Commercial segment is
projected to dominate the market throughout the forecast period. Grid
integration is a key focus for commercial solar installations. Businesses
require a stable and reliable power supply, and grid-connected systems can
ensure uninterrupted electricity. The flexibility of on-grid systems allows
businesses to use the grid as a backup during periods of low solar generation.
The integration of energy storage solutions, such as lithium-ion batteries, can
further enhance energy reliability and provide backup power during grid
outages. The commercial segment benefits from advancements in solar technology.
High-efficiency solar panels, advanced inverters, and sophisticated energy
management systems allow businesses to optimize energy production and
consumption. Smart monitoring and control systems enable real-time tracking and
management of solar systems, ensuring peak performance. Many commercial
entities in India have committed to sustainability and environmental responsibility.
Solar installations on commercial properties help companies meet their
sustainability goals, reduce their carbon footprint, and demonstrate their
commitment to clean energy practices. This aligns with CSR initiatives and can
enhance a company's brand image and reputation. In addition to cost savings and
environmental benefits, solar installations can offer operational benefits to
businesses. They can enhance energy independence, reduce exposure to volatile
electricity prices, and contribute to energy security. These operational
advantages are particularly important for businesses with energy-intensive
operations. Technological advancements, grid integration, and the focus on
sustainability will continue to drive the adoption of solar energy in the
commercial sector. Additionally, regulatory compliance and the desire to
achieve corporate sustainability goals will remain significant drivers for this
market segment.
Key market players in the
India Solar Rooftop Market are:-
- Cleantech Energy Corporation
Pte Ltd.
- Fourth Partner Energy Pvt.
Ltd.
- Amplus Solar Power Pvt. Ltd.
- Clean Max Enviro Energy
Solutions Pvt. Ltd.
- Sunsource Energy Pvt. Ltd.
- Orb Energy Pvt. Ltd.
- Tata Power Solar Systems
Limited
- Mahindra Susten Pvt. Ltd.
- Growatt New Energy
Technology Co. Ltd.
- Roofsol Energy Pvt. Ltd.
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“The India Solar Rooftop
Market in South India is poised to be the dominant force in the industry. South
India has a robust technological sector, with cities like Bangalore being known
as technology and innovation hubs. This environment fosters technological
advancements in the solar energy sector, leading to the development of more
efficient and cost-effective solar systems.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
“India Solar Rooftop
Market Segmented By Capacity (1kW - 10 kW, 11 kW - 100kW and Above 100 kW), By
Connectivity (On-Grid and Off-Grid), By End-User (Residential, Commercial and
Industrial), By Region, and By Competition, 2019-2029,” has evaluated the future growth
potential of India Solar Rooftop Market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in India Solar Rooftop Market.
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