The solar power industry in India is one of the country鈥檚 fastest growing sector, while the top 10 solar companies in India are dominating the market by increasing their sales across the country and investing heavily on R&D for technological advancements. India is in a state of frequent power shortage with a demand-supply gap of 12%, and this gap can only be filled with the use of renewable sources of energy such as solar energy in India. Furthermore, due to the geographical location of the country in the tropics, the solar power industry in India has immense prospects to grow solar energy in India at a high rate. The country receives an annual radiation of more than 5000 trillion kWh, which if potentially tapped by the solar energy companies in India, will generate a substantial amount of energy.
This industry fact sheet is to assist industry professionals, investors, and people in general that are interested in gaining insights for India鈥檚 solar industry including:
- How big is the India鈥檚 solar power capacity?
- What are the factors driving the solar power market growth in India?
- Who are the top 10 solar companies in India?
- What are the solar market trends in India?
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Solar Power Industry in India
According to the recent report from IBEF, the solar power industry in India is the fifth largest in the world by installed capacity. The solar power industry in India is growing at 25% CAGR owing to the government鈥檚 keen initiatives and incentives to the manufacturers of top 10 solar panels in India and the solar energy companies in India, the low operating costs of the top 10 solar companies in India, lack of electrical grids in certain parts of the country, increasing investments in the future of solar energy in India. India鈥檚 solar power industry reached a total installed capacity of 35.12 GW by June 2020 and is expected to hit 100 GW mark by 2022 owing to the growing number of solar energy companies in India. Overall, the future prospects of solar energy in India are poised for a stellar future of solar energy in India
Top 10 Solar Companies in India 2020
1. Tata Power Solar Systems Ltd
Tata Power Solar Systems Ltd is the leading top 10 solar companies in India, and they manufacture one of the best top 10 solar panels in India. This solar energy company in India was launched in 1989 and is headquartered in Noida, India. The company鈥檚 manufacturing unit in Bangalore has a production capacity of 300 MW of modules and 180 MW of cells.
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2. EMMVEE
EMMVEE is a leading solar energy company in India and prides themselves on building the future of solar energy in India. This top 10 solar companies in India are among the best in the solar power industry in India. The company was incepted in 1992 by DV Manjunatha and is stationed in Bangalore, India.
3. Moser Baer Solar Ltd. (MBSL)
MBSL was established in the year 1983 in New Delhi, India. This significant solar energy companies in India has taken a domination hold in solar EPC services and solar PV modules for the solar power industry in India. The company has doubled warranties on products through in-house R&D to offer immense growth to the future prospects of solar energy in India.
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4. Vikram Solar
Vikram Solar is the second-largest solar energy companies in India in terms of revenue in the solar power industry of India. The company was established in 2006 by Gyanesh Chaudhary at Kolkata, India. The company partnered with Powertech Africa, an African distributor of energy technology, thereby entering 14 new markets in Sub-Saharan Africa to give a stepping stone to a strong future of solar energy in India.
5. Kotak Urja Pvt Ltd
Kotak Urja Pvt Ltd is another top 10 solar energy companies in India and this solar energy company in India began operations in 1997 with a state-of-the-art solar plant in Bangalore, India to manufacture the top 10 solar panels in India and bolster the future prospects of solar energy in India.
6. Icomm Tele Ltd
Icomm Tele Ltd is one of the leading solar energy companies in India that is shaping a bright future of solar energy in India. This ISO 9001 compliant company was founded in the year 1989 in Hyderabad, India. This top 10 solar companies in India has a wide reach to countries like Sri Lanka, Bangladesh, Nepal, Africa, and the Middle East.
7. Indosolar
Indosolar is a top 10 solar companies in India to watch out for in the future of solar energy in India. This company was founded by Bhushan Kumar Gupta in 2005 and is headquartered in New Delhi, India. Indosolar currently has a production output of 450 MW and has made its name in the solar power industry in India.
8. Waaree Solar Pvt Ltd
Waaree Solar is one of the leading solar energy companies in India, that is cementing the future of solar energy in India. This company manufactures the top 10 solar panels in India and was founded in the year 1989 with Mumbai, India being the headquarters. Waaree Solar has a manufacturing capacity of 500MW at its plant near Surat, India.
9. Websol Energy System Ltd
Websol Energy System Ltd is another top 10 solar companies in India. Websol was founded in 1994 in Kolkata, India and has a state-of-the-art integrated production facility at Falta SEZ, Sector II, Falta, West Bengal, India. Websol has picked up many awards and accolades in addition to international certifications making it one of the few technologically independent solar energy companies in India of solar cells and modules.
10. Photon Energy Systems Ltd
Photon Energy Systems Ltd is a top 10 solar companies in India that manufacture the top 10 solar panels in India. Photon energy was incorporated in 1995 and began operations in the year 1997. This leading solar energy companies in India is headquartered in Hyderabad, India.
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Future Trends of the Solar Energy in India
The solar power industry in India is anticipated to have a double-digit growth during next few years, due to the government鈥檚 policy to increase the share of solar power in the country鈥檚 energy mix and falling equipment (PV Module) costs globally. Improving manufacturing technology by the top 10 solar companies in India has led to the reduction in the cost of top 10 solar panels in India, which has resulted in a reduction in the cost of solar power generation. The reduction in the cost of solar power coupled with a strategic policy of the government has resulted in an increase in solar power into the energy mix of the country. Furthermore, to boost the future prospects of solar energy in India and the solar power industry in India, the Government of India has announced various policies and regulations for the future of solar energy in India to reduce the capital expenditure in building a solar power plant and subsidize the power generation to make it economically viable for the solar energy companies in India involved in the solar power industry in India.
Renewable energy continues to shape the future of how we do business, it has become important to build relationships with global solar power companies. Imagine if you could identify the top 10 solar companies in India or around the world today without endlessly scouring the internet? Or even better, what if you could connect with them right from this article? We鈥檝e done the hard work and number crunching to provide you with the most comprehensive list of leading solar companies, so that you can directly connect with these top 10 solar companies on 91制片厂.
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