Solar energy market size in India

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Code: MTA10450

Publication Date: Oct 2025

What is the growth rate of the India Solar Energy Market?

According to 6Wresearch internal database and industry insights, India Solar Energy Market is expanding at a CAGR of 14.5% during the forecast period 2025-2031.

There are numbers of factors contributing to the expansion of the market, including increasing demand for renewable energy, government incentives and supportive policies for solar adoption, declining solar panel costs, rising awareness of environmental sustainability, and growth in both residential and commercial solar installations.

Key Growth Drivers of the India Solar Energy Market

Increasing adoption of rooftop solar installations in urban and semi-urban areas
Rising investments in large-scale solar parks and projects
Government initiatives such as subsidies and tax incentives for renewable energy
Technological advancements in solar panels and storage solutions
Growing focus on reducing dependence on conventional energy sources

India Solar Energy Market Trends

India Solar Energy Market is witnessing notable growth with trends such as the development of high-efficiency photovoltaic panels, increasing deployment of solar tracking systems, and integration with battery storage solutions. Consumers are using solar systems that work with smart grids to better manage their energy. Floating solar projects are becoming more popular in areas where water is hard to come by. More people are using hybrid solar systems that combine solar power with wind or regular energy. New ways to store energy and modular solar panels are making them more popular. More companies are using renewable energy to help them reach their sustainability goals.

Emerging Developments in the India Solar Energy Market

India Solar Energy Market is evolving with advancements in perovskite and thin-film solar technologies, improved energy storage systems, and smart inverters. Companies are investing money into research and development to find cheap, effective solar solutions. The solar microgrids and off-grid uses are making it easier to get electricity to rural areas. More solar developers, tech companies, and government agencies are working together in strategic ways. The solar plants are using digital monitoring and AI to improve their performance. More homes and businesses are getting rooftop installations. The help from policies and financing options are also helping the market grow.