The solar power industry in India is one of the country’s fastest growing sectors, 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. This industry fact sheet is to assist industry professionals, investors, and people in general that are interested in gaining insights for India’s solar industry including:
• How big is the India’s 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?
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’s 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’s 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.
Nexus Solar Energy Pvt. 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 2012 and is headquartered in Bulandshahr (U.P), India. The company’s manufacturing unit in Uttar Pradesh has a production capacity of 300 MW of modules and 144 MW of cells.
Tata Power is one of the best manufacturers of Solar Panels in India with a production capacity of 580MW of modules and 530 MW of cells. With 32 years of solar industry experience, the company has undertaken more than 7GW of ground-mount utility-scale projects, more than 750MW of rooftop projects, and installed over 55000 solar water pumps to date.
Vikram Solar is a major solar energy solution provider. They are spread across continents and are efficient in solar PV module manufacturing and comprehensive EPC solutions. In Kolkata, they have a 10 KW floating solar plant and a 1 GW solar panel manufacturing capacity.
Adani Solar is a major solar energy solution provider.Apart from being one of the biggest solar panel solutions providers in India, they are also the first Indian company to vertically integrate businesses that extend services across the spectrum of photovoltaics manufacturing and integration. Multilevel infrastructure in the state-of-the-art manufacturing facility makes it possible to produce both modules and cells under one roof.
The Mumbai-based Waaree Energies Ltd. was founded in 1989 and has a significant presence in India and overseas. They have a 2 GW module manufacturing facility in Surat. They also provide EPC services, project development, solar water pumps, solar rooftop solutions, independent power plants.
ReNew is one of the largest renewable energy Independent Power Producers (IPPs) in India and globally. ReNew develops, builds, owns, and operates utility-scale wind and solar energy projects, hydro projects and distributed solar energy projects.
Manufactured with advanced and most recent solar technologies, Microtek Solar provides Photo Voltaic Modules, Power Conditioning Units, Solar Management Units, and Solar combo packages. The company offers a wide range of solar products for retail and commercial users.
RenewSys Solar manufactures solar modules and key components like solar PV cells, black sheets, and encapsulants. With two manufacturing units in India, the company supplies products to over 40 countries around the world.
EMMVEE is one of the largest manufacturers of solar water heating systems across Asia. The company has installed and commissioned Top 10 Solar Companies In India PV projects 14 MW in the North of Germany, and 13 MW rooftop, and 140 + MW in India.
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.
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