India Solar Rooftop Market Commercial and Industrial Segments Driving Demand

India Solar Rooftop Market Projected to Reach USD 6.17 Billion by 2030

The India Solar Rooftop Market, valued at USD 5.36 billion in 2023, is anticipated to grow at a compound annual growth rate (CAGR) of 15.19%, reaching approximately USD 6.17 billion by 2030.

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Market Dynamics

Several factors are driving the growth of the India Solar Rooftop Market:

• Government Initiatives: Programs like the Jawaharlal Nehru National Solar Mission (JNNSM) and the Solar Rooftop Subsidy Scheme have been instrumental in promoting solar rooftop installations, making solar energy more accessible and affordable.

• Cost Savings: Rooftop solar installations offer significant savings on electricity bills, encouraging adoption among consumers.

• Environmental Benefits: The shift towards renewable energy sources to reduce carbon footprints has led to increased interest in solar rooftop systems.

India Solar Rooftop Market Methodology:

MMR’s research methodology integrates primary and secondary data sources, including government publications, expert assessments, and industry reports. Our insights are drawn from thorough market investigations and a wide array of resources, ensuring the most accurate and up-to-date analysis of the India Solar Rooftop market.

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India Solar Rooftop Market Segmentation Analysis:

by Capacity

1KW to 10 KW
11 KW to 100 KW
Above 100 KW

by Connectivity

On-Grid
Off-Grid
Hybrid

by End User

Residential
Commercial
Industrial

The market is divided into three segments based on connectivity: hybrid, off-grid, and on-grid. In 2023, the on-grid category dominated the market, and over the forecast period, it is anticipated to hold the greatest share of the India Solar Rooftop Market. Solar rooftop systems that are directly connected to the electrical grid and have the ability to send excess energy back into it are included in this segment. The on-grid market has grown significantly in recent years due to rising demand for grid-connected solar solutions in both the residential and commercial sectors.

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Key Manufacturers:

1. Tata Power Solar Systems Limited
2. Amplus Solar Power Pvt. Ltd.
3. Clean Max Enviro Energy Solutions Pvt. Ltd.
4. Sunsource Energy Pvt. Ltd.
5. Orb Energy Pvt. Ltd.
6. Fourth Partner Energy Pvt. Ltd.
7. Mahindra Susten Pvt. Ltd.
8. Growatt New Energy Technology Co. Ltd.
9. Roofsol Energy Pvt. Ltd.
10. Cleantech Energy Corporation Pte Ltd

Key Features of the Report:

Market Segmentation: Detailed breakdown by key segments and sub-segments, showcasing emerging trends and growth opportunities.

Competitive Landscape: In-depth profiles of key players, market leaders, and emerging competitors across different regions.

Market Dynamics: Analysis of growth drivers, market restraints, upcoming opportunities, and evolving industry trends.

Regional Insights: Examination of market size, growth rates, imports, exports, and performance across major global regions.

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Key Questions Addressed in the Report:

What is the current state of the India Solar Rooftop market?

What factors are expected to drive the market's growth?

What is the forecasted Compound Annual Growth Rate (CAGR) during the forecast period (2024-2030)?

Which regions will experience the highest growth?

What strategic initiatives are key players adopting to enhance their market share?

What are the emerging trends and opportunities in the India Solar Rooftop market?

Strategic Recommendations:

Our report not only provides market estimates but also offers key recommendations for businesses to enhance their growth strategies and capitalize on future opportunities. From competitive benchmarking and PESTLE analysis to SWOT assessments, we offer the strategic insights needed to thrive in the evolving market landscape.

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