Indian Solar Power Industry Outlook 2020
India, which falls in a tropical region, has tremendous potential for solar energy power generation and so it looks to position itself as one of the world’s major solar power producers in the coming years. The India government is adopting constructive steps towards executing large solar power parks. Through JNNSM and state nodal authority, it provides various incentive schemes, and it is trying to create demand and boost domestic manufacturing in the sector.
As per RNCOS’ latest research study “Indian Solar Power Industry Outlook 2020”, the country’s installed capacity for solar power generation has increased tremendously during the past couple of years. Rising economic and infrastructural development in the country has widened electricity demand-supply gap, induced high irradiation levels, pushed favorable government policies, and enabled huge investments, thus supporting growth for its solar industry. As such, the cumulative PV installed capacity is anticipated to reach more than 100 GW by 2022 .
In this report, the solar energy market has been bifurcated on two main grounds - by type and by application. Whereas by type, the solar energy market is covered over grid and off-grid analysis of ground mounted and rooftop-based solar PV module, by application, the section for the market studies in-depth analysis of various solar products, including solar cookers, solar lanterns, solar street light systems, solar home light systems, solar pumps etc., with their forecasted annual volumes.
The study further presents some of the top states in solar energy generation in terms of solar power installations and solar projects sanctioned. A state-wise analysis of the regulatory environment and initiatives adopted by the government is presented that would boost growth in the solar market.
A detailed assessment of the market trends is provided in the report, as manufacturing of domestic indigenous solar products is on the rise, government initiatives are declining solar photovoltaic costs, etc., thus forming the main reasons for growing solar power Industry in India.
Moreover, key players’ analysis is provided to understand the current market’s scenario and get accustomed to the existing competition. Recent developments of key players coupled with strategic analyses of their strengths and weaknesses that further complete the picture of the competitive landscape. In a nutshell, the research provides all the prerequisite information for intending clients looking out to venture into these markets, and facilitates them to devise strategies, while going for an investment/partnership in the India solar industry.
As per RNCOS’ latest research study “Indian Solar Power Industry Outlook 2020”, the country’s installed capacity for solar power generation has increased tremendously during the past couple of years. Rising economic and infrastructural development in the country has widened electricity demand-supply gap, induced high irradiation levels, pushed favorable government policies, and enabled huge investments, thus supporting growth for its solar industry. As such, the cumulative PV installed capacity is anticipated to reach more than 100 GW by 2022 .
In this report, the solar energy market has been bifurcated on two main grounds - by type and by application. Whereas by type, the solar energy market is covered over grid and off-grid analysis of ground mounted and rooftop-based solar PV module, by application, the section for the market studies in-depth analysis of various solar products, including solar cookers, solar lanterns, solar street light systems, solar home light systems, solar pumps etc., with their forecasted annual volumes.
The study further presents some of the top states in solar energy generation in terms of solar power installations and solar projects sanctioned. A state-wise analysis of the regulatory environment and initiatives adopted by the government is presented that would boost growth in the solar market.
A detailed assessment of the market trends is provided in the report, as manufacturing of domestic indigenous solar products is on the rise, government initiatives are declining solar photovoltaic costs, etc., thus forming the main reasons for growing solar power Industry in India.
Moreover, key players’ analysis is provided to understand the current market’s scenario and get accustomed to the existing competition. Recent developments of key players coupled with strategic analyses of their strengths and weaknesses that further complete the picture of the competitive landscape. In a nutshell, the research provides all the prerequisite information for intending clients looking out to venture into these markets, and facilitates them to devise strategies, while going for an investment/partnership in the India solar industry.
1. ANALYST VIEW
2. RESEARCH METHODOLOGY
3. RENEWABLE ENERGY SCENARIO
4. EMERGING MARKET TRENDS
4.1 Government Curbing Reliance on Imports for Energy Generation
4.2 Declining Photovoltaic Module Cost Boosting Solar Energy
4.3 Increasing Focus on Grid Interactive Rooftop Solar Projects
4.4 Growing Off-Grid PV Application
5. SOLAR POWER INDUSTRY OUTLOOK TO 2020
5.1 PV Installed Capacity
5.1.1 Off-Grid PV Power Plants Capacity
5.1.2 Grid Connected PV Power Plants Capacity
5.2 Solar Power Generation by Type
5.2.1 Solar Thermal System
5.2.1.1 Solar Water Heating System (SWHS)
5.2.1.2 Solar Cookers
5.2.2 Photovoltaic System
5.2.2.1 Solar Street Lighting System
5.2.2.2 Solar Home Lighting System
5.2.2.3 Solar Lanterns
5.2.2.4 Solar-Powered Pumps
5.3 Top States by Installed Capacity
5.3.1 Rajasthan
5.3.1.1 Key Highlights
5.3.1.2 Regulatory Environment
5.3.1.3 Recent Developments
5.3.2 Karnataka
5.3.2.1 Key Highlights
5.3.2.2 Regulatory Environment
5.3.2.3 Recent Developments
5.3.3 Gujarat
5.3.3.1 Key Highlights
5.3.3.2 Regulatory Environment
5.3.3.3 Recent Developments
5.3.4 Tamil Nadu
5.3.4.1 Key Highlights
5.3.4.2 Regulatory Environment
5.3.4.3 Recent Developments
5.3.5 Maharashtra
5.3.5.1 Key Highlights
5.3.5.2 Regulatory Environment
5.3.5.3 Recent Developments
5.3.6 Delhi
5.3.6.1 Key Highlights
5.3.6.2 Regulatory Environment
5.3.6.3 Recent Developments
5.3.7 West Bengal
5.3.7.1 Key Highlights
5.3.7.2 Regulatory Environment
5.3.7.3 Recent Developments
5.3.8 Chhattisgarh
5.3.8.1 Key Highlights
5.3.8.2 Regulatory Environment
5.3.8.3 Recent Developments
5.3.9 Uttar Pradesh
5.3.9.1 Key Highlights
5.3.9.2 Regulatory Environment
5.3.9.3 Recent Developments
5.3.10 Andhra Pradesh
5.3.10.1 Key Highlights
5.3.10.2 Regulatory Environment
5.3.10.3 Recent Development
5.3.11 Madhya Pradesh
5.3.11.1 Key Highlights
5.3.11.2 Regulatory Environment
5.3.11.3 Recent Developments
6. INVESTMENT OPPORTUNITIES IN SOLAR INDUSTRY
7. KEY PLAYERS
7.1 BHEL
7.1.1 Business Overview
7.1.2 Strengths and Weaknesses
7.2 Tata Power Solar Systems Limited
7.2.1 Business Overview
7.2.2 Strengths and Weaknesses
7.3 Moser Baer Solar Limited
7.3.1 Business Overview
7.3.2 Strengths and Weaknesses
7.4 Central Electronics Limited
7.4.1 Business Overview
7.4.2 Strengths and Weaknesses
7.5 WAAREE
7.5.1 Business Overview
7.5.2 Strengths and Weaknesses
7.6 HHV Solar Technologies Private Limited
7.6.1 Business Overview
7.6.2 Strengths and Weaknesses
7.7 Lanco Solar Energy Private Limited
7.7.1 Business Overview
7.7.2 Strengths and Weaknesses
7.8 Azure Power
7.8.1 Business Overview
7.8.2 Strengths and Weaknesses
7.9 Astonfield Renewable Resource Limited
7.9.1 Business Overview
7.9.2 Strengths and Weaknesses
7.10 Solar Semiconductor Private Limited
7.10.1 Business Overview
7.10.2 Strengths and Weaknesses
2. RESEARCH METHODOLOGY
3. RENEWABLE ENERGY SCENARIO
4. EMERGING MARKET TRENDS
4.1 Government Curbing Reliance on Imports for Energy Generation
4.2 Declining Photovoltaic Module Cost Boosting Solar Energy
4.3 Increasing Focus on Grid Interactive Rooftop Solar Projects
4.4 Growing Off-Grid PV Application
5. SOLAR POWER INDUSTRY OUTLOOK TO 2020
5.1 PV Installed Capacity
5.1.1 Off-Grid PV Power Plants Capacity
5.1.2 Grid Connected PV Power Plants Capacity
5.2 Solar Power Generation by Type
5.2.1 Solar Thermal System
5.2.1.1 Solar Water Heating System (SWHS)
5.2.1.2 Solar Cookers
5.2.2 Photovoltaic System
5.2.2.1 Solar Street Lighting System
5.2.2.2 Solar Home Lighting System
5.2.2.3 Solar Lanterns
5.2.2.4 Solar-Powered Pumps
5.3 Top States by Installed Capacity
5.3.1 Rajasthan
5.3.1.1 Key Highlights
5.3.1.2 Regulatory Environment
5.3.1.3 Recent Developments
5.3.2 Karnataka
5.3.2.1 Key Highlights
5.3.2.2 Regulatory Environment
5.3.2.3 Recent Developments
5.3.3 Gujarat
5.3.3.1 Key Highlights
5.3.3.2 Regulatory Environment
5.3.3.3 Recent Developments
5.3.4 Tamil Nadu
5.3.4.1 Key Highlights
5.3.4.2 Regulatory Environment
5.3.4.3 Recent Developments
5.3.5 Maharashtra
5.3.5.1 Key Highlights
5.3.5.2 Regulatory Environment
5.3.5.3 Recent Developments
5.3.6 Delhi
5.3.6.1 Key Highlights
5.3.6.2 Regulatory Environment
5.3.6.3 Recent Developments
5.3.7 West Bengal
5.3.7.1 Key Highlights
5.3.7.2 Regulatory Environment
5.3.7.3 Recent Developments
5.3.8 Chhattisgarh
5.3.8.1 Key Highlights
5.3.8.2 Regulatory Environment
5.3.8.3 Recent Developments
5.3.9 Uttar Pradesh
5.3.9.1 Key Highlights
5.3.9.2 Regulatory Environment
5.3.9.3 Recent Developments
5.3.10 Andhra Pradesh
5.3.10.1 Key Highlights
5.3.10.2 Regulatory Environment
5.3.10.3 Recent Development
5.3.11 Madhya Pradesh
5.3.11.1 Key Highlights
5.3.11.2 Regulatory Environment
5.3.11.3 Recent Developments
6. INVESTMENT OPPORTUNITIES IN SOLAR INDUSTRY
7. KEY PLAYERS
7.1 BHEL
7.1.1 Business Overview
7.1.2 Strengths and Weaknesses
7.2 Tata Power Solar Systems Limited
7.2.1 Business Overview
7.2.2 Strengths and Weaknesses
7.3 Moser Baer Solar Limited
7.3.1 Business Overview
7.3.2 Strengths and Weaknesses
7.4 Central Electronics Limited
7.4.1 Business Overview
7.4.2 Strengths and Weaknesses
7.5 WAAREE
7.5.1 Business Overview
7.5.2 Strengths and Weaknesses
7.6 HHV Solar Technologies Private Limited
7.6.1 Business Overview
7.6.2 Strengths and Weaknesses
7.7 Lanco Solar Energy Private Limited
7.7.1 Business Overview
7.7.2 Strengths and Weaknesses
7.8 Azure Power
7.8.1 Business Overview
7.8.2 Strengths and Weaknesses
7.9 Astonfield Renewable Resource Limited
7.9.1 Business Overview
7.9.2 Strengths and Weaknesses
7.10 Solar Semiconductor Private Limited
7.10.1 Business Overview
7.10.2 Strengths and Weaknesses
LIST OF FIGURES:
Figure 3-1: Installed Power Generation Capacity by Type (%), FY 2014
Figure 3-2: Grid Interactive Renewable Power Generation Capacity by Type (%), FY 2014
Figure 5-1: Annual PV Installed Capacity (MW), 2010, 2015 & 2020
Figure 5-2: Cumulative PV Installed Capacity (MW), 2014 & 2022
Figure 5-3: Cumulative Off-Grid Solar PV Power Plant Capacity (MWp), FY 2010 to FY 2014
Figure 5-4: Annual Connected Grid Solar PV Power Plant Capacity (MWp), FY 2011 to FY 2014
Figure 5-5: Cumulative Rooftop Solar Capacity (MW), 2012-2016
Figure 5-6: Rooftop Solar Capacity by Sector (%), 2016
Figure 5-7: Cumulative Coverage of Solar Water Heating System (Million sq. m.), FY 2013 to FY 2022
Figure 5-8: SWHS Installation by Sector (%), FY 2013
Figure 5-9: Cumulative Solar Cookers (‘000 Units), FY 2014 to FY 2020
Figure 5-10: Annual Sales of Solar Street Lighting Systems (‘000 Units), FY 2014 to FY 2020
Figure 5-11: Annual Sales of Solar Home Lighting Systems (‘000 Units), FY 2014 to FY 2020
Figure 5-12: Annual Sales of Solar Lanterns (‘000 Units), FY 2014 to FY 2020
Figure 5-13: Annual Sales of Solar Powered Pumps (Units), FY 2014 to FY 2020
Figure 3-1: Installed Power Generation Capacity by Type (%), FY 2014
Figure 3-2: Grid Interactive Renewable Power Generation Capacity by Type (%), FY 2014
Figure 5-1: Annual PV Installed Capacity (MW), 2010, 2015 & 2020
Figure 5-2: Cumulative PV Installed Capacity (MW), 2014 & 2022
Figure 5-3: Cumulative Off-Grid Solar PV Power Plant Capacity (MWp), FY 2010 to FY 2014
Figure 5-4: Annual Connected Grid Solar PV Power Plant Capacity (MWp), FY 2011 to FY 2014
Figure 5-5: Cumulative Rooftop Solar Capacity (MW), 2012-2016
Figure 5-6: Rooftop Solar Capacity by Sector (%), 2016
Figure 5-7: Cumulative Coverage of Solar Water Heating System (Million sq. m.), FY 2013 to FY 2022
Figure 5-8: SWHS Installation by Sector (%), FY 2013
Figure 5-9: Cumulative Solar Cookers (‘000 Units), FY 2014 to FY 2020
Figure 5-10: Annual Sales of Solar Street Lighting Systems (‘000 Units), FY 2014 to FY 2020
Figure 5-11: Annual Sales of Solar Home Lighting Systems (‘000 Units), FY 2014 to FY 2020
Figure 5-12: Annual Sales of Solar Lanterns (‘000 Units), FY 2014 to FY 2020
Figure 5-13: Annual Sales of Solar Powered Pumps (Units), FY 2014 to FY 2020
LIST OF TABLES:
Table 5-1: Deployment across Application Segment under JNNSM
Table 5-2: Incentives for Systems mainly for Electricity Conservation
Table 5-3: Cost Brake-up in Setting up a Solar Park
Table 5-4: Rajasthan - Cumulative Installations of SPV Systems till FY 2013
Table 5-5: Rajasthan - Solar Tariffs as per Tariff Order (2014)
Table 5-6: Karnataka - Cumulative Installations of SPV Systems till FY 2013
Table 5-7: Karnataka - Solar Tariffs as per Tariff Order (2013)
Table 5-8: Gujarat - Cumulative Installation of SPV Systems till FY 2013
Table 5-9: Gujarat - Solar PV Power Plant Tariff (2012)
Table 5-10: Tamil Nadu - Cumulative Installations of SPV Systems till FY 2013
Table 5-11: Maharashtra - Cumulative Installations of SPV Systems till FY 2013
Table 5-12: Maharashtra - Solar Tariff Proposed by MERC for Projects Commissioned, FY 2014-2015
Table 5-13: Delhi - Cumulative Installations of SPV Systems till FY 2013
Table 5-14: Delhi - Solar PV Power Plant Tariff (2013)
Table 5-15: West Bengal - Cumulative Installations of SPV Systems till FY 2013
Table 5-16: Chhattisgarh - Cumulative Installations of SPV Systems till FY 2013
Table 5-17: Chhattisgarh - Levellised Solar Tariffs Approved by CSERC, FY 2014
Table 5-18: Uttar Pradesh - Cumulative Installations of SPV Systems till FY 2013
Table 5-19: Andhra Pradesh - Cumulative Installations of SPV Systems till FY 2013
Table 5-20: Madhya Pradesh - Cumulative Installations of SPV Systems till FY 2013
Table 5-21: Madhya Pradesh - Generic Tariff for Solar Power Plants (2012)
Table 6-1: Key Players in India Solar Market
Table 5-1: Deployment across Application Segment under JNNSM
Table 5-2: Incentives for Systems mainly for Electricity Conservation
Table 5-3: Cost Brake-up in Setting up a Solar Park
Table 5-4: Rajasthan - Cumulative Installations of SPV Systems till FY 2013
Table 5-5: Rajasthan - Solar Tariffs as per Tariff Order (2014)
Table 5-6: Karnataka - Cumulative Installations of SPV Systems till FY 2013
Table 5-7: Karnataka - Solar Tariffs as per Tariff Order (2013)
Table 5-8: Gujarat - Cumulative Installation of SPV Systems till FY 2013
Table 5-9: Gujarat - Solar PV Power Plant Tariff (2012)
Table 5-10: Tamil Nadu - Cumulative Installations of SPV Systems till FY 2013
Table 5-11: Maharashtra - Cumulative Installations of SPV Systems till FY 2013
Table 5-12: Maharashtra - Solar Tariff Proposed by MERC for Projects Commissioned, FY 2014-2015
Table 5-13: Delhi - Cumulative Installations of SPV Systems till FY 2013
Table 5-14: Delhi - Solar PV Power Plant Tariff (2013)
Table 5-15: West Bengal - Cumulative Installations of SPV Systems till FY 2013
Table 5-16: Chhattisgarh - Cumulative Installations of SPV Systems till FY 2013
Table 5-17: Chhattisgarh - Levellised Solar Tariffs Approved by CSERC, FY 2014
Table 5-18: Uttar Pradesh - Cumulative Installations of SPV Systems till FY 2013
Table 5-19: Andhra Pradesh - Cumulative Installations of SPV Systems till FY 2013
Table 5-20: Madhya Pradesh - Cumulative Installations of SPV Systems till FY 2013
Table 5-21: Madhya Pradesh - Generic Tariff for Solar Power Plants (2012)
Table 6-1: Key Players in India Solar Market
