India mainly an off-grid solar PV market with only 2.12 Mw of PV power being grid connected

DUBLIN, IRELAND: Research and Markets has announced the addition of GlobalData's new report "Indian Solar Sector: Dawn of a New Era" to its offering.

The future of solar PV development in India looks encouraging and is expected to be driven by the government incentives and PV support programs. India is mainly an off-grid solar PV market with only 2.12 MW of PV power being grid connected.

The Ministry of New and Renewable Energy (MNRE) has launched various financial support programs like the generation based incentives (feed-in tariff) of Rs 15/KWh ($0.30 / KWh) to encourage grid connectivity in India. Semiconductor policy in India is providing capital subsidy for PV manufacturers.

This initiative has attracted investments worth Rs 796.46 billion ($18 billion) from manufacturers of PV equipment. Financial incentives along with other PV support programs like the Solar Cities program is aimed at promoting solar PV installations in the country.