Solar equipment manufacturing includes a variety of products made for small as well as major projects.
The solar foundation has categorised the solar industry into five sectors which are installation, manufacturing, sales & distribution, project development, and other. The installation sector is composed of companies that primarily install photovoltaic, solar water heating and other solar energy technologies.
According to recent research by Solar Energy Industries Association and GTM Research, it was found that installation growth is strong in certain market segments in several states. Major players in this sector have announced expansion plans for the future. Total installed renewable energy capacity in India touched 114.43 GW (around 33 percent of the total energy capacity of the country).
The Indian government is planning to expand its solar plans, targeting US$100 billion in investment and 100 GW of solar capacity by 2022.
Here are the following reasons why investing in solar power can provide you with huge profits, not to forget that it’s a boon for the environment in the current scenario:
Increasing energy prices
Solar will become a crucial component of India’s energy portfolio in the coming decade. Investing in the solar franchise will bear huge profits in the current scenario as the industry is quickly developing into a several billion dollar solar-centric firms.
Solar power tariff in India has witnessed a drastic fall over the last few years. This ever-declining solar power tariffs and open market has encouraged good foreign investments into the sector. According to recent reports, Solar Philippines is looking to enter the Indian solar industry and aims to install approximately 500 MW solar farms in India.
The government intends to reduce the capital expenditure in building a solar power plant, to make it economically viable for entrepreneurs to get involved in the solar power franchise.
The benefits are many, both economically & environmentally! And Salasar Engineering has the best quality Module Mounting Structures & screw piles to offer for the foundation of your solar structures!
To know more, visit our website on: https://salasarengineering.com/
Let’s invest in a cleaner, greener & better tomorrow!