India Solar Inverter Market is Expected to Register a 10.11% CAGR Through 2031
Government Policies & Incentives and Rising Demand
for Clean & Reliable Energy are likely to propel the market during the
forecast period.
According to
TechSci Research report, “India Solar Inverter Market – By Region,
Competition, Forecast and Opportunities, 2021-2031F”, India Solar Inverter Market was valued at USD 612
Million in 2025 and is expected to reach USD 1100 Million by 2031 with a CAGR
of 10.11% during the forecast period.
The rapid expansion of rooftop solar
systems and decentralized energy generation is significantly contributing to
the growth of India’s solar inverter market. As utility-scale solar projects
continue to develop, a parallel trend of distributed solar installations—particularly
in residential and small commercial sectors—is reshaping energy dynamics and
creating new demand for inverter technologies.
Rooftop solar is becoming increasingly
attractive due to falling system costs, rising electricity tariffs, and better
financing options. With net metering policies now widely implemented across
states, consumers can feed excess power back into the grid and receive credits,
making rooftop solar a financially viable investment. Solar inverters,
especially grid-tied inverters, are central to this process, as they manage the
two-way flow of electricity between the home and the grid.
In areas with unreliable or no grid
access, decentralized energy systems such as mini-grids or standalone solar
solutions are being deployed to meet local power needs. These setups often
include off-grid inverters with battery support, enabling consistent power
availability even during grid failures or in remote regions.
Commercial buildings, educational
institutions, hospitals, and industrial facilities are also increasingly
turning to rooftop solar to reduce operational costs and carbon footprints.
These systems typically require more robust and intelligent inverters capable
of handling variable loads and ensuring power quality.
The growing trend toward energy
independence is also pushing demand for hybrid inverter systems, which combine
solar, battery storage, and grid interaction. Consumers, both urban and rural,
are investing in such systems to avoid power cuts and reduce dependence on the
utility grid.
Another factor aiding the growth is the
increasing awareness among consumers about solar technology. Government-led
awareness campaigns and the involvement of private installers and energy
service companies have educated end-users on the benefits of rooftop solar and
the importance of choosing the right inverter.
With millions of potential rooftop
spaces available and an ever-growing need for reliable, affordable energy, the
rooftop and decentralized solar segments are set to dominate the inverter
demand in India. This shift toward distributed generation is not only
democratizing access to clean energy but also accelerating the adoption of
advanced inverter technologies across the country.
Browse over XX Market
data Figures spread through XX Pages and an in-depth TOC on " India Solar Inverter Market.”
Based
on Phase, Single-phase inverters dominated the Indian solar inverter market
primarily due to the widespread adoption of residential solar installations,
where single-phase power is the standard. Several factors contribute to this
dominance,
In
India, the majority of residential homes are connected to single-phase
electrical grids, particularly in urban and semi-urban areas. Most household
appliances and electrical systems are designed for single-phase power, making
single-phase inverters the natural choice for these homes. Installing a
three-phase inverter, which is designed for higher-capacity industrial and
large-scale commercial use, would be unnecessary and cost-prohibitive for most
residential users.
Single-phase
inverters are more affordable than their three-phase counterparts, making them
a more accessible option for residential consumers. The lower initial cost
makes solar energy systems more attractive to a broader range of consumers,
particularly in price-sensitive markets like India. With the increasing
availability of government incentives and subsidies for rooftop solar,
single-phase inverters are an affordable solution for households looking to
reduce their electricity bills and achieve energy independence.
Single-phase
inverters are simpler to install and maintain compared to three-phase
inverters. They are ideal for smaller-scale solar systems, which are the norm
in residential installations. The installation process for single-phase systems
is also less complex, reducing labor costs and time, which further contributes
to their popularity in the residential sector.
India
is seeing an accelerated adoption of rooftop solar, driven by rising
electricity costs and government initiatives. As most rooftop solar systems are
smaller-scale residential systems, single-phase inverters are more suited to
meet their power needs. The increasing trend of installing rooftop solar in
homes further strengthens the dominance of single-phase inverters.
Based on region,
North India is emerging as
the fastest-growing region in the India Solar Inverter market due to several
key factors driving solar energy adoption in the region.
North
India experiences high levels of solar irradiation, making it ideal for solar
energy generation. States like Rajasthan, Punjab, Haryana, and Uttar Pradesh
enjoy abundant sunshine for most of the year, which increases the efficiency of
solar power systems. The high levels of solar radiation contribute to higher
energy production, making solar energy an attractive and sustainable option for
both residential and commercial users in the region.
The
government’s strong push for renewable energy, especially through schemes like
the National Solar Mission and state-level solar policies, has been a catalyst
for solar adoption in North India. States like Rajasthan have set aggressive
targets for solar energy generation, offering incentives, subsidies, and
rebates for solar installation. These policies are specifically aimed at
promoting rooftop solar projects, which, in turn, drive the demand for solar
inverters. Additionally, net metering policies, which allow consumers to sell
surplus energy back to the grid, have further boosted solar adoption.
North
India, particularly cities like Delhi, Gurugram, and Chandigarh, is witnessing
rapid industrialization and urbanization. This growth creates higher
electricity demand, pushing businesses and residential areas to adopt solar
power solutions. Companies and industrial parks are increasingly turning to
solar power for cost savings and sustainability, driving the demand for
reliable and high-performance solar inverters.
In
certain northern regions, particularly in rural and semi-urban areas, power
cuts and unreliable grid supply are common. Solar systems with inverters,
particularly hybrid and off-grid solutions, provide a reliable alternative,
ensuring uninterrupted power supply during outages. This need for energy
security has accelerated the adoption of solar technology in these regions.
Major companies
operating in the India Solar Inverter Market are:
- Sungrow Power Supply Co., Ltd.
- ABB Ltd.
- Siemens AG
- Fimer S.p.A.
- Huawei Technologies Co., Ltd.
- Schneider Electric SE
- Enphase Energy, Inc.
- SMA Solar Technology AG
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“The India solar inverter market presents
a substantial growth opportunity driven by the country’s ambitious renewable
energy targets, rapid expansion of rooftop solar installations, and rising
demand for clean and reliable power. Government initiatives, favorable
policies, and increasing affordability of solar systems are encouraging
widespread adoption across residential, commercial, and utility sectors. With
the growing need for energy independence, especially in areas with unreliable
grid infrastructure, demand for advanced inverter technologies—such as hybrid
and smart inverters—is expected to surge. Additionally, local manufacturing
incentives and digital innovation are positioning India as both a high-growth
market and a potential global export hub.” said Mr. Karan
Chechi, Research Director of TechSci Research, a research-based global management
consulting firm.
“India Solar Inverter Market By Type (Central Inverter, String
Inverter, Micro Inverter), By Connection Type (On-Grid, Off-Grid), By Phase
(Single Phase, Three Phase), By End User (Residential, Commercial, Industrial, Utilities)
By Region, Competition, Forecast & Opportunities, 2021-2031F”, has evaluated the future growth
potential of India Solar Inverter 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 make
sound investment decisions., The report also identifies and analyzes the
emerging trends along with essential drivers, challenges, and opportunities in the
India Solar Inverter Market.
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