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India’s Solar Sector: ₹2 Trillion Investment Surge Insight

Last Update 27 August 2024

India's Solar Sector is set for major expansion, needing ₹2 trillion in investments over two years to hit a 293 GW target by FY30. With Solar Energy currently at ~19% of capacity and 6% of Electricity Generation, growth depends on overcoming challenges like reliance on imports and limited domestic manufacturing. Government incentives and funding mechanisms are crucial.

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India is moving towards renewable energy with the aim of 293 GW of solar energy. To reach that goal India needs to double the current pace of solar capacity for that investment of Rs 2 trillion is needed for the next two years. This investment is needed to overcome the challenges of manufacturing, land, etc. Investment is really necessary to set up new projects and reach the goal by 2030. More policies and government support are needed to overcome challenges and set up solar power plants. Apart from these people's awareness is also a key factor for the adoption of solar plants. This will bring opportunities to solar modules, solar panels, and solar cell manufacturers.

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