Why Should You Invest in Solar Energy in India?

India is one of the most promising markets for the next industrial revolution. Not only is it already the 4th largest economy in the world, but it also has the highest per capita income and the 2nd largest population in the world. This makes it an incredibly rich country and great location for investing. One of the most promising sectors is renewable energy, and solar energy is a great investment opportunity. Here are just a few reasons why you should consider investing in solar energy in India:

The Market

Thanks to its incredible geography, India has the ability to generate an incredible amount of clean, renewable energy. The sun shines overhead all year round, so there is always plenty of energy available. The government has also been proactive in terms of creating investor-friendly policies, so you can rest assured that all the legalities will be taken care of.

This has made solar energy one of the most promising sectors in India, and it has also made it one of the most attractive markets for foreign investors. The solar power market in India was valued at US$16.9 billion in 2017 and is expected to hit $26.9billion by 2024, growing at a CAGR of nearly 11% per year. One of the great things is that the prices are declining, which means there is plenty of opportunity for profit!

A Growing Industry

India already has one of the most developed energy sectors in the world, so it stands to reason that its energy needs would only intensify as its economy grows. This is great news for those investing in the renewable energy industry, because it means a steady stream of new customers.

As with any rapidly growing industry, the solar power industry in India is experiencing some growing pains. The demand for solar energy in the country is forecasted to hit 7.9GW by next year and 12.5GW by 2024, and the industry is struggling to keep up with the demand. This is leading to higher prices along with increased efficiency, which will make the industry more attractive to investors.

A Brimming Opportunity

Thanks to its sunny climate and abundance of resources, India is an extremely promising market for those seeking to enter the renewable energy industry. The country currently generates about 19% of its power from renewable sources, which is among the highest rates in the world. What’s more is that the government targets to generate 100% of its power from renewable sources by 2022. This is making the country a goldmine for investors looking to get involved in the burgeoning renewables market.

The government has also taken strides to provide financial incentives to attract investors, and to further encourage renewable energy use, it has reduced electricity tariffs by 10%. This makes the country an ideal location for those seeking low-risk opportunities, and the renewable energy market looks set to continue its growth in the country.

A Wealth Of Experience

The solar power industry in India is a massive market and a melting pot of experience for those seeking to enter the field. The country’s experience in infrastructure development and ease of doing business makes it a hub for green energy, and there are plenty of established, reputable firms looking to take advantage of this opportunity. This makes the sector a great choice for those seeking to get into the market, but who want to make a steady, long-term investment.

Many large Indian firms have also entered the market, and they have the resources and experience necessary to quickly become profitable. This not only makes the sector attractive, but establishes it as a great choice for those seeking to build a long-term investment. The government has also established strategic partnerships with leading multinationals, such as Samsung and Panasonic, to encourage foreign direct investment in the sector.

A Place For Recruitment

One of the major problems with entering any industry is lack of employment opportunities. Since the renewable energy market in India is experiencing such high growth, there are plenty of job opportunities for those seeking to enter the field. What’s more is that many of the leading firms in the industry are seeking to recruit experienced personnel, so it becomes a place for individuals to gain valuable work experience.

The government has also taken steps to establish a fund specifically for hiring individuals with experience in the renewable energy market, so this is a great opportunity for those seeking to build a career in the sector and gain further employment.

Top-Notch Economics

One of the great things about India is its favorable business environment. The country has one of the most advanced legal systems in the world, and it provides excellent support to entrepreneurs and investors. It also has excellent academic institutions, with many of the world’s leading universities. This makes it an incredible hub for research and development.

Thanks to its sound economic policies and business-friendly environment, the country’s economy is proving to be extremely welcoming to investors and business people. The Indian government has set a target to become a $5trillion economy by 2027, and the country is making significant strides to achieve this. The future looks incredibly promising for India, and for those seeking to enter the lucrative renewable energy market.

Scroll to Top