Immense potential in Indian solar industry: RNCOS


According to a research report on “Indian Solar Energy Market Outlook 2012” by RNCOS, India has immense potential for solar industry. The industry has witnessed rapid growth over the past few years and is projected to grow further in future. India is blessed with ample solar radiation and receives solar energy equivalent to more than 5,000 trillion kWh per year, which is far more than its total annual energy consumption.

Moreover, the demand for solar products such as solar street lighting systems, home lighting systems, power plants, solar cookers, solar pumps and solar water heating systems has been rapidly rising for the recent years, especially in rural areas, and is expected to continue growing substantially from 2011 to 2013. Many states such as Gujarat, West Bengal, Maharashtra and Rajasthan have started promoting solar based applications by giving incentives and tax savings.



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