Article -> Article Details
| Title | India Solar Energy Market Share Analysis, Key Companies and Research Report by 2034 |
|---|---|
| Category | Business --> Energy and Environment |
| Meta Keywords | solar energy |
| Owner | SAKSHI BAHANDARI |
| Description | |
| The India solar energy market size reached USD 30,032.78 Million in 2025. The market is projected to surge to USD 5,38,913.68 Million by 2034, registering a robust CAGR of 37.82% between 2026 and 2034. Growth is propelled by government policies, declining technology costs, and increasing private sector investments. The report offers a comprehensive analysis of the industry, including India solar energy market share, analysis, growth, trends, and regional insights.
STUDY ASSUMPTION YEARS
INDIA SOLAR ENERGY MARKET KEY TAKEAWAYS
Sample Request Link: https://www.imarcgroup.com/india-solar-energy-market/requestsample MARKET TRENDS The India Solar Energy Market is currently undergoing a
"Rooftop Revolution," fundamentally reshaped by the PM Surya Ghar:
Muft Bijli Yojana. A dominant trend is the mass adoption of residential rooftop
solar, with over 2.5 million households already enrolled to generate their own
free electricity, effectively decentralizing power generation. Additionally,
the industry is witnessing a definitive pivot towards "Manufacturing
Sovereignty" driven by the rigorous enforcement of the Approved List of
Models and Manufacturers (ALMM). To curb import reliance (primarily from
China), the government has mandated that only ALMM-listed domestic modules be
used for government-funded projects, sparking a massive expansion in local cell
and module manufacturing capacity. Moreover, there is a strategic shift from simple
grid-connected solar to "Dispatchable Renewables"; developers are
increasingly bidding for Round-The-Clock (RTC) and Solar-Wind Hybrid projects
integrated with Battery Energy Storage Systems (BESS) to solve the
intermittency issue and provide stable baseload power to the grid. MARKET GROWTH FACTORS The primary engine fueling the India Solar Energy Market is
the government's aggressive target to achieve 500 GW of non-fossil fuel
capacity by 2030. This ambitious goal is supported by the Production Linked
Incentive (PLI) Scheme (Tranche-II), which is catalyzing billions in investment
to create a fully integrated domestic value chain—from polysilicon to
modules—thereby shielding the sector from global supply chain shocks. In addition, the Commercial and Industrial (C&I) segment
is acting as a massive catalyst; prompted by high grid tariffs and corporate
Net-Zero goals, factories and tech parks are aggressively adopting Open Access
Solar, securing long-term power purchase agreements (PPAs) at rates
significantly lower than state utilities. Furthermore, the expansion of the
Green Energy Corridor infrastructure is unlocking potential in remote
solar-rich regions (like Ladakh and Kutch), ensuring that the massive power generated
in these solar parks can be efficiently evacuated and transmitted to demand
centers across the country without grid congestion. For detailed insights, visit the India Solar Energy
Market report page: https://www.imarcgroup.com/india-solar-energy-market MARKET SEGMENTATION Deployment Insights:
Application Insights:
Regional Insights:
REGIONAL INSIGHTS The report does not explicitly specify the dominant region
or regional market share and CAGR statistics. It provides a comprehensive
analysis covering North India, South India, East India, and West India without
precise comparative data. Discuss Your Needs with Our Analyst and Get Customized
Report Now: https://www.imarcgroup.com/request?type=report&id=43852&flag=E RECENT DEVELOPMENTS & NEWS In September 2025, Oil India Limited partnered with
Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL) to develop a 1.2 GW
renewable energy project in Rajasthan, consisting of 1,000 MW solar and 200 MW
wind power. This initiative supports India’s green transition and aims to
supply clean energy to distribution companies and commercial clients,
significantly expanding renewable capacity. In June 2025, the Ministry of New and Renewable Energy
launched the Innovative Projects Start-Up Challenge to promote rooftop solar
and distributed renewable innovations in India. The challenge offers ₹2.3 crore
in prizes and provides incubation, pilot opportunities, and mentorship for
winners. KEY PLAYERS
If you require any specific information that is not
covered currently within the scope of the report, we will provide the same as a
part of the customization. ABOUT US IMARC Group is a global management consulting firm that
helps the world’s most ambitious changemakers to create a lasting impact. The
company provide a comprehensive suite of market entry and expansion services.
IMARC offerings include thorough market assessment, feasibility studies,
company incorporation assistance, factory setup support, regulatory approvals
and licensing navigation, branding, marketing and sales strategies, competitive
landscape and benchmarking analyses, pricing and cost research, and procurement
research. CONTACT US IMARC Group, 134 N 4th St. Brooklyn, NY 11249, USA, Email: sales@imarcgroup.com, Tel No: (D) +91 120 433 0800, United States: +1-201971-6302 | |
