The market for distributed solar power products in India is set to grow more than two-and-a-half times to Rs 10,117 crore by 2023, according to a study released today by GOGLA, a global association of the off-grid solar power industry. This includes solar lanterns, solar pump sets and other home appliances.
The study puts the current estimate of the market size for distributed solar in India at Rs 3,875 crore including Rs 705 crore sales by private players and the rest by government owned entities. The overall size is estimated to grow to Rs 10,117 crore over the next five years including Rs 2,617 crore worth of sales in the private segment and Rs 7,500 crore on the government side.
The report was released at an event here organised by GOGLA, International Finance Corporation and Ashden India Collective. Read More
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