Industry News

India and other 19 countries signed International Solar Alliance Framework Agreement

   India: Under the sidelines of the UN-sponsored climate talks, India and other countries including France, Brazil signed the International Solar Alliance to become an intergovernmental body registered under the UN charter. The framework aims to serve as a facilitator to ensure the large swathes of the un-served and underserved population to have access to adequate, predictable, and cheap energy.

TechSci Research depicts that backed by favorable government measures and abundant solar resources, the solar rooftop market in India is expected to grow at a robust pace over the next five years. With the country’s per capita electricity consumption standing at around 746 Kilowatt hour, which is below the global average, demand for electricity in India is expected to increase over the next five years because continuing economic growth.

According to a released report of TechSci Research “India Solar Rooftop Market By State, By Connectivity, By End User, Competition Forecast & Opportunities, 2011 – 2021”, the solar rooftop market in India to grow at a CAGR of over 60% during 2016 - 2021. In India, the solar power market is in its developing stage, and numerous measures are being taken by the government to promote the use of solar energy in the country. Government of India is focusing on expanding the renewable based power generation in the country owing to increasing global warming and environmental concerns. The share of renewable power in India’s total installed power generation capacity is estimated to be 13% in 2016, and this share is anticipated to reach 40% by the end of 2030. All these factors point towards robust growth of solar rooftop market in India over the next five years.

Relevant News