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We expect the Indian solar electric system and inverter market to exhibit a CAGR of 31.8% during 2022-2027.
The increasing adoption of energy-efficient appliances, along with the launch of several initiatives by the Indian government for encouraging the use of renewable sources of energy, is catalyzing the Indian solar electric system and inverter market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across the nation resulting in temporary halt in the installation activities for solar electric system and inverter.
Based on the technology type, the Indian solar electric system market can be segmented into crystalline silicon and thin films. Currently, crystalline silicon (c-Si) technology holds the largest market share.
Based on the installation type, the Indian solar electric system market has been divided into ground mounted and rooftop, where ground mounted solar panels currently exhibit a clear dominance in the market.
Based on the inverter type, the Indian solar inverter market can be categorized into central inverters, string inverters, and others. Among these, central inverters account for the majority of the total market share.
On a regional level, the market has been classified into Telangana, Rajasthan, Andhra Pradesh, Tamil Nadu, Karnataka, Gujarat, and others, where Telangana currently dominates the Indian solar electric system and inverter market.
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