Indian Solar Electric System and Inverter Market PPT: Keyplayer Analysis and Opportunity 2021-26

Indian Solar Electric System and Inverter Market Research and Upcoming Forecast Report

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Report Description and Highlights Report Description Indian Solar Electric System and Inverter Market Outlook 2026:

According to the latest report by IMARC Group, titled “Indian Solar Electric System and Inverter Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the Indian solar electric system and inverter market reached a volume of 38.3 GW in 2020.

A solar electric system produces electricity which is utilized for operating home appliances. These systems consist of various components, which include solar panels, inverter, battery pack, power meter, backup generator and charge regulator. The solar panel is one of the essential elements of a solar electric system which generates electricity by absorbing sunlight as the source of energy.

On the other hand, the solar inverter is used to convert the direct current (DC) from the solar panels into alternating current (AC). This current is later used for running appliances on the commercial or local off-grid electricity networks. Since the maintenance cost associated with solar electric systems is relatively low, they are gaining prominence across emerging economies, especially in India.

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Indian Solar Electric System and Inverter Market Trends:

The constant shortage in the supply of electricity across India is primarily driving the growth of the market. Rising population, along with increasing adoption rates of electronic appliances and heating, ventilating, and air conditioning (HVAC) systems, has led to the escalating use and consequently, a deficit in the supply of electricity.

Additionally, a decrease in the prices of equipment used in the production of solar electric systems has been witnessed, which is expected to reduce their average selling price. Moreover, growing awareness regarding the risks posed by the use of conventional energy sources has led a majority of the population to shift toward cleaner power sources, like solar energy.

Further, numerous government initiatives are promoting the use of these systems and consequently, positively influencing their sales. For instance, the Government of India provides incentives and subsidies for the installation of solar rooftop systems and has undertaken initiatives which aim to achieve a national solar rooftop target of 40 GW till 2021-2022.

Looking forward, IMARC Group expects the market to grow at a CAGR of 32.3% during 2021-2026.

Report Description and Highlights

Report Description Key Market Segmentation: Breakup by Technology Type: •Crystalline Silicon •Thin Films

Breakup by Installation Type: •Ground Mounted •Rooftop

Note: We are updating our research report 2021-2026. If you want to need latest primary and secondary data with Cost Module, Business Strategy, Distribution Channel, etc

Report Description and Highlights

Report Description Regional Insights: •Telangana •Rajasthan •Andhra Pradesh •Tamil Nadu •Karnataka •Gujarat •Others

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Report Description and Highlights

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