The world is turning towards sustainable energy and India is fast emerging as a forward thinking nation
in terms of sustainable energy. India has tremendous scope of generating solar energy. The geographical
location of the country stands to its benefit for generating solar energy, and the reason behind that is
that India is a tropical country that receives 3000 hours of sunshine or nearly 300 sunny days in a year.
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Furthermore India has the perfect terrain required for solar plants, be it rooftop or otherwise. The ease
of access to set up solar plants across India, has encouraged the government to take significant in the
field of solar energy, and has ensured its consistent growth.
This is turn has helped the solar energy industry to each economies of scale within a short time period,
making India the cheapest producer of solar power.
India being the most affordable producer of solar energy is not a mere coincidence, but is a result of
effective public and private partnership model. The role of government in forming specialized bodies
such as the Ministry of New and Renewable Energy and the Solar Energy Corporation of India, has played
a pivotal role in helping India grow in rooftop solar power plants.
State governments too have contributed significantly to help the accelerated growth of the solar
industry. For example the provisions of concessional wheeling and banking facilities for solar energy. This
has helped in price sensitivity. There is no doubt that India is a price sensitive market. Price sensitivity
has helped the Indian solar market in two ways, they are- increased availability of solar panels, inverters,
at competitive prices. This has helped India achieve lower solar tariffs than other countries. Secondly,
once solar tariffs reduced lower than grid electricity tariffs, adoption of solar rooftop panel has been
quick. This has led to economies of scale, and price of components have further reduced.
All this is possible only because of the government encouraging the growth of renewable energy in India,
and its plan to tap on these inexhaustible sources of power, and to help India emerge as a renewable
power giant. The solar power industry in India is growing at 25% CAGR owing to the government’s
keen initiatives and incentives to the manufacturers, and substantial investments that are constantly
being made.
Currently renewable and solar energy market is still a niche that not many companies have entered and
explored. The top five Solar Power companies in India at present are as follows:
Top Five Solar Power Companies in India
ReNew Power Ltd.
ReNew Power Ltd.- #1 Solar Power Company in IndiaReNew Power Ltd. is India’s largest renewable energy independent power producer. They’ve wind and solar energy projects spread across eight states across India, and have 250 distributed solar installation sites spread across 76 cities in 17 states in India. ReNew Power, is committed to change the country’s current energy portfolio.It develops, builds, owns and operates utility scale solar and rooftop solar projects that generate energy for commercial and industrial customers. With disciplined project planning, execution and by promoting environmentally-friendly business practices, ReNew Power has become the market leader of renewable industry in India.Tata Power Solar Systems Ltd.
Tata Power Solar - #2 Solar Power Company in IndiaTata Solar Systems is one of the leading solar companies in India. They manufacture one of the best top solar panels. It was launched in 1989, with its headquarters in Noida, though the company’s manufacturing unit is in Bangalore. The unit’s production capacity is that of 300MW of modules and 180 MV of cells.Moser Baer Solar Ltd (MBSL)
Moser Baer - #3 Solar Power Company in IndiaMBSL was established in New Delhi, in 1883. It is one of the most significant companies in India, and as dominated the solar industry in terms of EPC services and Solar PV modules. It has also doubled its warranties on its products due to their in house Research and Development. Their thorough R&D offers immense growth to the future of solar energy in India.Vikram Solar
Vikram Solar - # 4 Solar Power Company in IndiaVikram Solar is the second largest solar energy company in India, in terms of revenue in the solar energy industry of India. The company was set up in 2006, in Kolkata by Mr. Gyanesh Chaudhary. Vikram Solar is partnered with PowerTech Africa, and thus has entered the Sub- Saharan Africa region. This joint venture has allowed them to step up their game, and has given India a strong stepping stone to create a strong future for solar energy in India.Kotak Urja Pvt. Ltd.
Kotak Urja - #5 Solar Power Company in IndiaKotak Urja is one of the top 5 solar energy companies in India, it began operations in 1977, in Bangalore, and has a state of the art plant. Kotak Solar is one of India’s oldest Solar Company with significant expertise in Design, Engineering, and Manufacturing, Installation & Commissioning (I&C) of both Solar Photovoltaic & Solar Thermal Systems. They are nearing their two decade milestone in the industry with a lot of fresh discoveries to help make the most of the solar energy in business enterprises and in civic infrastructural developments.
