Market Research Report: Solar Photovoltaic Market in India 2010

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Solar photovoltaic (SPV) market in India is at nascent stage but has huge potential to grow. The SPV capacity in India is 100 MW. The market comprises of 20 companies engaged in the business of solar PV modules and 15 companies engaged in the business of solar PV cells while there are 50 companies that are engaged in the assembly and supply of PV systems.

The overview section provides an introduction to the overall renewable energy market including the share of renewable energy in the overall power sector in India, growth, and the share of the various segments of renewable energy, followed by a brief study on the photovoltaic technology and the overall solar photovoltaic market in India including region-wise distribution. An analysis of drivers reveals that abundant solar radiation, rise in foreign trade, fall in prices of raw materials, availability of funds, demand for off-grid PV applications, demand – supply gap and rise in polysilicon plants is driving growth in this sector. The key challenges identified are high costs for setting up large scale grid connected solar PV projects, lack of supply of silicon wafers, lack of standards, land acquisition problems, lack of consumer awareness.

The report covers the various initiatives undertaken by the Government of India with the major initiative being the Jawaharlal Nehru National Solar Mission. Other initiatives include generation based incentives, focus on R&D, fiscal incentives, special incentive package, Akshay Urja shops, remote village lighting program and various State funded initiatives. The report also discusses the current market trends including tie-ups between domestic and foreign firms, introduction of EMI schemes, telecom towers adopting solar PV applications, thermal power companies diversifying into solar photovoltaic segment. The competitive landscape includes the profile, expansion plans of the players in the market. The report also covers key developments in the sector.

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Market Research Report: Solar Photovoltaic Market in India 2010

  1. 1. Solar Photovoltaic Market - India June 2010
  2. 2. Executive Summary Total installed capacity of SPV in India is S Installed capacity of solar PV cells is F while installed capacity of PV modules is D Market Bulk of India’s installed SPV capacity is in the form of non-grid applications LE Drivers Challenges Geographical location High costs for setting up large scale grid Drivers & MP Fall in price of raw materials Growth in foreign trade connected SPV projects Lack of silicon wafers Lack of consumer awareness A Availability of funds S Challenges Demand for off-grid PV application Lack of standards Demand Supply gap Land acquisition problems Rise in polysilicon plants Tie-ups between domestic and foreign players Introduction of EMI schemes Trends Telecom towers adopting solar PV applications Thermal power companies diversifying into SPV segment The market is largely organized with a sizeable number of players Major Players Competition • Company 1 • Company 2 • Company 3 • Company 4 SOLAR PHOTOVOLTAIC MARKET IN INDIA 2010.PPT 2
  3. 3. Solar photovoltaic market in India is still at a nascent stage but has huge potential to grow Overview – Solar Photovoltaic Market Market Size and Growth - SPV • Globally, solar photovoltaic (SPV) market is expected to MW be worth B by 20-- z 600 • Total installed capacity of SPV in India is S LE A% In India, grid connected PV capacity is C 400 y P • Bulk of India’s installed SPV capacity is in the form of x non-grid applications w 200 M v • India’s current (20--) PV module installed capacity is D end of 20-- • SPV market in India is mostly organized SA which is expected to increase to E while its PV cell installed capacity is F, expected to increase to G by the 0 20-- 20-- 20-- Production of Solar PV Cells and Modules 20-- 20-- There are H entities engaged in the production of solar cells MWp PV Cells I companies in the PV modules space and 250 PV Modules R J companies are engaged in the assembly and supply of PV systems 200 Q 150 P O 100 N L K M 50 0 20-- 20-- 20-- 20-- Source: SOLAR PHOTOVOLTAIC MARKET IN INDIA 2010.PPT 3
  4. 4. Drivers & Challenges – Summary Drivers Challenges Geographical location High Costs Fall in prices of raw materials Lack of silicon wafers Growth in foreign trade Lack of standards Availability of funds Land acquisition problems Demand for off-grid PV application Lack of consumer awareness Demand supply gap Rise in polysilicon plants SOLAR PHOTOVOLTAIC MARKET IN INDIA 2010.PPT 4
  5. 5. Trends – Summary Thermal power companies Tie-ups between domestic and diversifying into SPV segment foreign entities Key Trends Telecom towers adopting solar Introduction of EMI schemes PV applications SOLAR PHOTOVOLTAIC MARKET IN INDIA 2010.PPT 5
  6. 6. Key Government bodies working towards the development of solar energy and other renewable energy resources Major Government Bodies Ministry of New and Renewable Indian Renewable Energy Solar Energy Centre LE Energy (MNRE) Development Agency MP • Chief body concerned with new and renewable energy • Responsible for the implementation of SA• Under the administrative control of the MNRE • It promotes, develops, extends financial assistance for renewable • A unit of MNRE • Works towards the development of solar energy technologies and promotes its applications Programmes which include energy and energy through product Rural al lighting, cooking and efficiency projects development motive power • It is notified as a Public • It undertakes activities Use of renewable energy in Financial Institution under related to design, urban, industrial and section 4 of the Companies development, testing, commercial applications Act, 1956 and registered as standardization, Development of alternate a Non-Banking Finance consultancy, training and fuels and applications Corporation (NBFC) with information dissemination Reserve Bank of India in the field of Solar Energy Source: SOLAR PHOTOVOLTAIC MARKET IN INDIA 2010.PPT 6
  7. 7. Competition – Overview (1/2) Player Manufacturer of PV cells Manufacturer of PV module Supplier of PV systems Company 1 Company 2 Company 3 Company 4 Company 5 Company 6 Company 7 Company 8 Company 9 Company 10 Company 11 Company 12 SOLAR PHOTOVOLTAIC MARKET IN INDIA 2010.PPT 7
  8. 8. Thank you for the attention The Solar Photovoltaic report is a part of Research on India’s Power Industry Series. For more detailed information or customized research requirements please contact: Gagan Uppal Gaurav Kumar Phone: +91 96191 00122 Phone: +91 98303 09715 E-Mail: gagan.uppal@netscribes.com E-Mail: gaurav.kumar@netscribes.com Research on India is a product of Netscribes (India) Pvt. Ltd. Research on India is dedicated to disseminating information and providing quick insights on “hot” industries in India and other emerging markets. Track our new releases and major updates in these industries on About Netscribes Netscribes is a knowledge-consulting and solutions firm with clientele across the globe. The company’s expertise spans areas of investment & business research, business & corporate intelligence, content-management services, and knowledge-software services. At its core lies a true value proposition that draws upon a vast knowledge base. Netscribes is a one-stop shop designed to fulfil clients’ profitability and growth objectives. Disclaimer: This report is published for general information only. Although high standards have been used the preparation, Research on India, Netscribes (India) Pvt. Ltd. or “Netscribes” is not responsible for any loss or damage arising from use of this document. This document is the sole property of Netscribes (India) Pvt. Ltd. and prior permission is required for guidelines on reproduction. SOLAR PHOTOVOLTAIC MARKET IN INDIA 2010.PPT 8

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