Saturday Jan 28, 2023

Solar Energy Market Growth Analysis, Size, Share, Outlook by – Trends, Opportunities and Forecast 2021-2030 – Taiwan News


Quadintel published the latest research report on the Solar Energy market. In order to comprehend a market holistically, a variety of factors must be evaluated, including demographics, business cycles, and microeconomic requirements that pertain precisely to the market under study. In addition, the Solar Energy market study demonstrates a detailed examination of the business state, which represents creative ways for company growth, financial factors such as production value, key regions, and growth rate.

There has been a spurt in the demand for renewable energy since conventional electricity generation methods such as thermal power plants are getting exhausted. In India, solar power is one of the most popular renewable sources of energy. The solar energy market is constantly expanding through efficient collaboration between the government and the private sector. In FY 2020, India ranked fifth in solar power installed capacity. The Ministry of New and Renewable Energy (MNRE) regulates the market. Some of the major producers are Adani Power Limited, The Tata Power Company Limited, ReNew Energy Global Plc, and Torrent Power Limited.

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Market insights:

The installed solar energy capacity capacity is expected to expand at a CAGR of 27.84% during the FY 2022 FY 2027 period. Solar energy generation has become central to the National Action Plan on Climate Change. At present, most of the solar photovoltaic (PV) panel installations in India are done using crystalline silicon, which improves the power efficiency by about 22% The National Solar Mission is one of the key initiatives to promote solar power expansion/generation. Solar power capacity has increased by more than 15 times in the last seven years, from 2.6 GW in March 2014 to 41.09 GW in May 2021.


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