New Delhi:  India has a huge future growth potential for the solar photovoltaic industry. This is mainly due to the increasing electricity demand, high irradiation levels, favorable government policies, and investments worth billions of dollars being made in the sector.

Indian government is taking steps towards implementing large Megawatt (MW) scale solar power projects and is poised to position itself as one of the world’s major solar producer. Besides, it is quickly developing itself as the major manufacturing hub for solar power plants. Effective utilization of India’s solar potential lies in the successful implementation of the Jawaharlal Nehru National Solar Mission (JNNSM) by the government. This mission would also help in mitigating the international pressure with regard to emission reductions.

Besides, the government is eager to increase the overall solar energy share in the country by concurrently improving infrastructural conditions in the country, especially with products, such as solar water heating systems and solar street lights. Majority of the states are deploying PV power plants and with the implementation of the National Solar Mission, it is expected that, the annual PV installed capacity will grow at a CAGR of around 44% during 2010-2013 to reach 900 MW by 2013 end.

Currently, the Indian solar energy market is being served by players, such as Vorks Energy, Tata Solar, Moser Baer India, etc.

Companies such as Vorks Energy is planning to set up large scale MW solar project and is currently in talks with several state goverments discussing options available in respective states to set up solar plant.

The Indian solar market surely seems to be an attractive proposition for solar companies both Indian and international.