India Solar Inverter Market (2020-2026) | 6Wresearch

Nitesh22 Sep, 2023Business

India Solar Inverter Market grew at a considerable rate during the period 2016-2019 as a result of several government efforts to improve the share of solar power in the country’s energy generation mix such as the National Solar Mission by the Government of India targeting 100 GW solar energy by the year 2022. Rising consumer awareness, the growing participation of residential and commercial segments towards solar system installations, supportive government policies & solar schemes, and increasing private sector involvement are the other major factors contributing to the India Solar Inverter Market Growth. However, the ongoing pandemic COVID-19 slowed down the growth rate of market revenues during the year 2020 as a result of a decline in market demand during the lockdown phase across the country.