Solar Energy Market, Size, Growth in India – Q1 2023

Across the globe are eying upon the solar energy market in India. This has led the solar installed capacity to 64 GW as of Jan 2023 from 2.63 GW as of Mar 2014, with a dramatic compund annual growth rate of 41%.

The solar energy market has witnessed impressive growth globally, as indicated by the increase in cumulative installed solar energy capacity from 6.76 GW in 2016 to 54 GW in 2022, expanding at a remarkable CAGR of 41.39%. The market size of the global solar power industry was valued at US$ 197.23 billion in 2021, and it is projected to reach approximately US$ 368.63 billion by 2030, with a CAGR of 7.2% during the forecast period from 2021 to 2030.

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In a first Eninrac is glad to announce its latest report - Global Solar Projects Intelligence Tracker - 2030.

The solar energy market has witnessed significant solar market growth in india in recent years, with the installed capacity skyrocketing from 2.63 GW as of March 2014 to an impressive 64 GW as of January 2023, exhibiting a dramatic CAGR of 41%. This remarkable expansion is projected to continue, as it is anticipated that India's solar power installed capacity will reach a staggering 240 GW by 2030

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