Indian Solar Electric System and Inverter Market: Analysis & Forecast 2018-2023

 Nita Shetty

Market Reports on India Provides the Trending Market Research Report on“Indian Solar Electric System and Inverter Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”under Heavy Industry category. The report offers a collection of superior market research, market analysis, competitive intelligence and industry reports.

Indian Solar Electric System and Inverter Market the government is encouraging the use of renewable sources of energy like solar, wind, etc. so as to decrease the dependency on non-renewable sources and reduce their carbon footprint. As a result, the Government has undertaken several initiatives including the Solar Rooftop Scheme, Jawaharlal Nehru National Solar Mission and Solar Energy Subsidy Scheme which are catalyzing the demand for solar power systems in the region.

Indian Solar Electric Market

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A solar panel refers to a collection of solar cells which is employed to generate electricity using sunlight as the energy source. A solar inverter, on the other hand, is a device which helps in converting the direct current produced by the solar panels into alternating current. This current is then supplied to either storage batteries, power grids or houses for operating various appliances. Several efforts are being made by the Government of India to harness renewable sources, such as wind, solar, geothermal, etc.

- On the basis of technology type, the market has been segmented into crystalline silicon and thin films.
- Based on the installation type, ground mounted solar panels exhibit a clear dominance, accounting for the majority of the total market share.
- This can be attributed to their advantages, such as easy installation, productivity and easy accessibility for cleaning and maintenance.
- Region-wise, the market has been divided into Telangana, Rajasthan, Andhra Pradesh, Tamil Nadu, Karnataka, Gujarat and others.
- Telangana holds the largest market share owing to several initiatives by the State Government under the ‘Telangana Solar Power Policy 2015’.

Reasons to buy
- This can be attributed to the advantages offered by these inverters like high efficiency, low cost, credibility and easy installation.
- Central inverters are followed by string inverters and others.

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