Outshining in the Solar Trajectory

The power requirement of India is on a steep rise, and the supply is not able to keep pace. Sun as a source of energy generation is a sustainable alternative and rightly being promoted through Government’s commitment and policies. In spite of the initial hiccups, it’s all set to emerge as a multi-billion dollar industry in India. The top solar companies in India will be instrumental in supporting the nation in its 100 GW target by 2022.

Significance in India’s Economy

With shrinking coal reserves and declining availability of domestic gas, the spotlight has shifted to renewable and sustainable source of power generation. Solar is destined to become an integral part of India’s energy portfolio as well as that of the economy. This market is poised to grow quickly into a billion dollar industry.  Success will demand long-term commitment and a good understanding of ground level realities by both the Central & the state governments alongside the individual participants. Estimates suggest that the Top solar companies in India will require equipment/hardware worth 6 to 7 billion dollars leading to revenue of about 4 billion dollars annually over the next five years or so.  The domestic players will benefit immensely from this development as its forecasted that project installation and distribution will be managed by local players only.

The Growth Trajectory

The growth is to be viewed from two aspects. One will be initially set up stage follow by the real growth stage.  The initial setup phase will require government support regarding policies and facilitation followed by the acceptability of the stakeholders leading to mega standalone projects and huge solar parks.  The subsidy & administrative support driven market will gradually make way for a fiercely competitive market in which the top solar companies in India will strive for their share of the pie. The following phase will also witness the investor confidence rising in the market and the governments.  The transition phase from the initial to the growth stage is expected to see the shift in demand patterns alongside a total change in perspective. Solar Energy will then be considered not as an alternate source of power generation but as a more viable energy source for an economy as a whole.  Top solar companies in India have a good grasp of this trajectory of solar sector in our country.

The Indian solar industry will require continued support and commitment from the government at each and every stage of the growth cycle.