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How Government Incentives are Fueling the Solar Revolution in India?

India is witnessing a solar revolution. This surge towards renewable energy is being significantly fueled by a robust set of government initiatives and incentives. India's solar energy capacity has witnessed a significant rise.

According to the Ministry of New and Renewable Energy, solar power capacity has nearly tripled in the last five years, jumping from 21,651 MW to a staggering 70,096 MW. This phenomenal growth is driven by a two-pronged approach: large-scale solar projects and a boom in rooftop installations. Favorable government policies like the government solar panel schemes and a significant drop in solar power plant costs have been the key catalysts for this surge.

Here's How Government Incentives Are Propelling India's Solar Sector Forward

1. Financial Aid and Subsidies

Subsidies for Rooftop Solar: Schemes like the Pradhan Mantri Sahaj Bijli Har Ghar Yojana (PM-SBGH) offer financial assistance to households for installing rooftop solar panels. This solar panel subsidy brings down the upfront cost, making solar power more accessible.

Loans with Attractive Rates: Govt. solar panel scheme and solar energy initiatives like the Kisan Urja Suraksha Evam Utthan Mahabhiyan (Kusum) provide easy loans with concessional interest rates for farmers to set up solar pumps. This not only reduces their electricity bills but also frees up grid power for other uses.

2. Tax Benefits

Tax Exemptions: The government offers tax exemptions on income earned from solar energy projects. This makes solar power generation a more attractive investment proposition.

Accelerated Depreciation: Businesses installing solar panels can claim accelerated depreciation, allowing them to write off the cost of the system over a shorter period, reducing their tax burden.

3. Policies and Regulations

Net Metering: Net metering solar energy policies allow individuals with rooftop solar panels to sell excess electricity back to the grid. This encourages investment in solar power and reduces the pressure on conventional power sources.·        

Renewable Purchase Obligation (RPO): The RPO mandates electricity distribution companies to source a certain percentage of their power from renewable sources like solar. This creates a guaranteed market for solar power plant producers.

4. Government Programs and Missions

National Solar Mission (NSM): Launched in 2010, the NSM aims to significantly increase India's solar power capacity. This mission has ambitious targets and provides a roadmap for achieving them.

Atal Mission for Rejuvenation and Urban Transformation (AMRUT): This Govt. solar panel scheme

allocates funds for the installation of solar panels on government buildings and public spaces, reducing energy consumption and setting an example for wider adoption.

The Impact of Incentives

The solar panel subsidy and more such government incentives related to solar energy have played a crucial role in making solar power more affordable, attractive, and accessible for homes, businesses, and industries. As a result, India has witnessed a phenomenal rise in solar power capacity, emerging as a global leader in the renewable energy sector.

Way Forward

The government's continued commitment to solar power development is vital for India's energy security and its fight against climate change. Future initiatives may focus on: 

Storage Solutions 

Developing efficient and cost-effective energy storage solutions to address the variability of solar power generation.

Innovation and Domestic Manufacturing

Encouraging research and development in solar technologies and promoting domestic manufacturing to create a self-reliant solar ecosystem. By continuing to provide well-designed incentives and fostering a supportive policy environment, India can further solidify its position as a solar superpower, ensuring a brighter future powered by clean energy.

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[techsciresearch]

Electric Motor Market to Reach USD160.11 Billion until 2026 | TechSci Research

Booming heating, ventilation and air conditioning industry to drive the Global Electric Motor Market through 2026

According to TechSci Research report, “Global Electric Motor Market By Type (AC Motors, DC Motors and Hermetic Motors), By End Use (Residential, Commercial, Industrial, Transportation and Others), By Output Power (Above 1HP and Upto 1HP), By Region, Competition Forecast & Opportunities, 2016 – 2026’’, the Global Electric Motor Market is projected to cross USD160 billion by 2026, on account of growing demand from various small scale industries such as paper and pulp, textile industry and others. Moreover, shifting trends towards electrical vehicle technology along with regulations such as Minimum Energy Performance Standards (MEPS) to bolster the Global Electric Motor Market through 2026.

Global Electric Motor Market can be segmented based on type, end use, output power and region. In terms of type, the market can be bifurcated into AC motors, DC motors and hermetic motors. The rising demand from automotive sector, owing to the high efficiency AC motors fuels the Electric Motor Market growth. Although, the DC motors segment is forecasted to grow at a faster rate owing to their high starting torque, simple operation and easy design.

The high share of AC motors is attributable to extensive applications in irrigation industry to modern day robotics. Moreover, they are lighter in weight and cheaper and are extensively used in Heating, Ventilation and Air Conditioning (HVAC) industry. Improvements in permanent magnetic materials and highly efficient low cost electronics has increased the use of AC motors in automotive industry. However, DC motors are expected to grow at a faster rate owing to the rapidly increasing popularity of vehicle features like, adjustable mirrors, motorized seats and sunroof systems. The Hermetic motor segment will witness a CAGR of 6.41% from 2021 to 2026 due to the easy transportation, less maintenance and easy handling. The segment’s growth is attributed to the demand from HVAC equipment manufactures and their suitability in such applications.

Browse 135 Figures spread through 110 Pages and an in-depth TOC on "Global Electric Motor Market"

https://www.techsciresearch.com/report/electric-motor-market/7280.html

In terms of end use, the market is segmented into residential, commercial, industrial, transportation and others. The industrial segment dominates the market owing to the increased demand, as maximum industries depend on motorized automation. This segment includes metal and mining, oil and gas, paper and pulp, home appliances, renewables and water and wastewater industries which use electric motors for compressors, boilers and pumps at different stages of production. In terms of output power, the market is segmented into above 1HP and upto 1HP. Upto 1HP segment is expected to lead the market owing to its application in various small scale industries such as textile mills, healthcare and paper and pulp industries.

In the Global Electric Motor Market, Asia-Pacific is the largest contributor with around 37% market share in 2020. China is the largest contributing country in the region with around 53% share in 2020, followed by Japan, India and South Korea. Growing urbanization and manufacturing sector in China are contributing to the country’s leading market position. In India increasing industrialisation, and introduction of various major government initiatives such as Make in India, Smart City Mission, affordable housing, AMRUT, etc., are expected to positively influence the Electric Motors Market in India during forecast period.

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ABB Limited, Siemens AG, Schneider Electric SE, Nidec Corporation, Mitsubishi Electric Corporation, Rockwell Automation, Johnson Electric Holdings Limited, Toshiba Corporation, General Electric Company, WEG Industries, etc. are among the leading players operating in Global Electric Motor Market. Companies operating in the market are using organic strategies such as product advancement through addition of new features, partnerships, mergers and collaborations to boost their share in Global Electric Motor Market.

“Growing Heating, Ventilation and Air Conditioning (HVAC) industry, increasing global electricity consumption and rising demand from automotive, railways and renewables sectors across the globe are boosting demand for electric motors, globally. Moreover, rising urbanization, technological advancements in industrial sector and shifting of world towards electric vehicle technology have also been positively influencing the market. Continuance of such upward trend in industrial and automotive segments across the globe is expected to drive the Global Electric Motor Market in the coming years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Electric Motor Market By Type (AC Motors, DC Motors and Hermetic Motors), By End Use (Residential, Commercial, Industrial, Transportation and Others), By Output Power (Above 1HP and Upto 1HP), By Region, Competition Forecast & Opportunities, 2016 – 2026” has evaluated the future growth potential of Global Electric Motor Market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in the Global Electric Motor Market.

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About TechSci Research

TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime analysts and consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.

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India Electric Motors - Growth Analysis and Industry Forecast 2024

Market Reports on India Provides the Trending Market Research Report on ” India Electric Motors Market By Type, By Voltage Rating, By End Use, By Application, By Region, Competition, Forecast & Opportunities, 2014-2024 ” under Energy category. The report offers a collection of superior market research, market analysis, competitive intelligence and industry reports.

India Electric Motors Market is projected to surpass $ 2.08 billion by 2024. Anticipated growth in the market can be attributed to increasing number of industries and construction activities across the country, in addition to growing government focus towards adoption of energy efficient motors. Moreover, rising population in tier II and tier III cities, increasing urbanization, and introduction of various major government initiatives such as Make in India, Smart City Mission, affordable housing, AMRUT, etc., are expected to positively influence the electric motors market in India during forecast period.

Electric motor market is highly fragmented in India with presence of a large number of players. The market is competitive due to the presence of un-organized players in the industry. Recent implementation of GST is anticipated to help organized players in increasing their market share over the next five years.

Request a free sample copy of India Electric Motors Market Report @ http://www.marketreportsonindia.com/marketreports/sample/reports/1178823 India Electric Motor Market Regional Insight Regionally, the western market played a vital role in generating revenues in the Indian electric motor market, with states like Gujarat, Maharashtra and Madhya Pradesh being the key markets in the region. Gujarat and Maharashtra are the two leading demand generating states for electric motors in the western region. Growing number of government initiatives such as Green Energy Corridor in Gujarat, Maharashtra and Madhya Pradesh are scheduled for implementation by 2020.

India Electric Motor Market Competitive LandscapeIn order to boost sales, the major vendors in the market for electric motor aim at introducing technologically advanced solutions and energy efficient systems at cheaper rates. This helps vendors to differentiate themselves from counterparts and thereby sustain competition. Moreover, strategic partnerships & collaborations with distributors and investment in R&D activities are some of the other major strategies adopted by major market players to enhance their existing product portfolio and expand their market footprints. Some of the major players operating in India electric motors market are CG Power and Industrial Solutions Limited, Bharat Heavy Electricals Limited, ABB India Limited, Siemens Limited, GE Power India Limited, Bharat Bijlee Limited, Kirloskar Electric Company Limited, Marathon Electric India Private Limited and WEG Industries India Private Limited.

Years considered for this report: Historical Years: 2014-2017 Base Year: 2018 Estimated Year: 2019 Forecast Period: 2020–2024

Objective of the Study:

The primary objective of the study is to understand and gain insights about India electric motors market and its segmental analysis by type, by voltage rating, by end use, by application and by region.

To estimate and forecast India electric motors market size.

To categorize and forecast India electric motors market by type such as AC motors and DC motors.

To categorize and forecast India electric motors market by end use such as residential, commercial, industrial and transportation.

To categorize and forecast India electric motors market by application such as fans, pumps, compressors and mechanical movement.

To categorize and forecast India electric motors market by regions such as north, east, south and west.

To identify major drivers and challenges for India electric motors market.

To identify major trends in India electric motors market.

To profile major companies operating in India electric motors market.

Some of the major players operating in India electric motors market are CG Power and Industrial Solutions Limited, Bharat Heavy Electricals Limited, ABB India Limited, Siemens Limited, GE Power India Limited, Bharat Bijlee Limited, Kirloskar Electric Company Limited, Marathon Electric India Private Limited and WEG Industries India Private Limited, etc.

To analyze and forecast India electric motors market, both top-down and bottom-up approaches have been used. Multiple employees from the leading companies have been interviewed through telephonic conversations to extract and verify the information being collected at the source. A brief study of the major players operating in India electric motors market was also undertaken, which included analysis of information such as ongoing projects, followed by the details of expected year of commissioning and estimated investments along with the expansion plans of various projects in India.

Moreover, detailed and in-depth scrutiny of information was done to understand each policy or external or internal factor which could increase or decrease the demand for electric motors in India. To extract data, primary surveys were conducted with key players and stakeholders in the industry. The future plans of major players were studied and projects which have commissioned in the country were identified.

Various secondary sources such as white papers and secondary literature on electric motors, Smart Cities Mission, Federation of Indian Chambers of Commerce and Industry (FICCI), Ministry of Housing & Urban Poverty Alleviation, electric motors companies’ annual reports, International Monetary Fund and World Bank were also studied by Our Research.

Key Target Audience: -Electric motor manufacturing companies, distributors and other stakeholders -Government bodies such as regulating authorities and policy makers -Organizations, associations and alliances related to electric motors -Market research and consulting firms

The study is essential in delivering useful information to industry stakeholders such as electric motor manufacturing companies and end users. The report also provides useful insights about which market segments should be targeted over the coming years in order to strategize investments and capitalize on growth opportunities in specific market segments and geographies.

Report Scope: In this report, India electric motors market has been segmented into the following categories in addition to the industry trends which have also been listed below:

Market, by Type: AC Motors DC Motors

Market, by Voltage Rating: Low Voltage (Upto 690V) Medium Voltage (691V – 3300V) High Voltage (above 3300V)

Market, by End Use: Residential Commercial Industrial Transportation

Market, by Application: Fans Pumps Compressors Mechanical Movement Others

Market, By Region: East West North South

Competitive Landscape Company Profiles: Detailed analysis of the major companies present in India electric motor market.

Available Customizations: With the given market data, Our Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information Detailed analysis and profiling of additional market players (up to five).

Profit Margin Analysis Profit margin analysis in case of direct and indirect sales channel.

Browse our full report with Table of Contents http://www.marketreportsonindia.com/marketreports/india-electric-motors-market-by-type-by-voltage-rating-by-end-use-by-application-by-region-competition-forecast-/1178823 About Market Reports on India: Market Reports on India is an excellent source to obtain top quality market research reports that helps you to understand the business in the Indian market. We cover various industries, identifying and understanding key macro and micro-economic trends, insights and futuristic growth opportunities. To help achieve all this and more, Market Reports on India is the answer to all your business needs.

Contact us at: Market Reports on India Tel: +91 22 27810772 / 27810773 Email: info@marketreportsonindia.com Website: www.marketreportsonindia.com Follow us on : Twitter, Facebook, LinkedIn

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India Construction Equipment Market to Reach $ 4.7 Billion by 2025: TechSci Research Report

Growing expenditure on infrastructure development and favorable government policies to drive India construction equipment market

According to TechSci Research report, “India Construction Equipment Market By Segment, By Product Type, By Region, Competition, Forecast & Opportunities, 2025”, the country’s construction equipment market is projected to reach $ 4.7 billion by 2025, owing to high demand for construction equipment, especially in the earth moving segment. Over the next five years, construction equipment sales are expected to grow on account of rising demand from commercial projects and mining, housing and agriculture sectors. The competition in India construction equipment market is expected to intensify in the near future owing to continuing collaborations among construction and technology companies coupled with strong and expanding sales network of leading players across the country.

Browse 37 market data Figures and Tables spread through 95 Pages and an in-depth TOC on "India Construction Equipment Market "

https://www.techsciresearch.com/report/india-construction-equipment-market/2482.html

In addition, government is also supporting the construction equipment market by liberalizing taxation policies for construction industry such as GST and custom duty. In 2018, the government of India reduced the GST on construction equipment from 28% to 18%, which will help the construction equipment manufacturers to reduce the overall cost of equipment and other operational losses. Some of the largest ongoing projects in India that are boosting the country’s construction equipment market include Smart City Mission, AMRUT (Atal Mission for Rejuvenation of Urban Transformation), Metro Rail in urban areas, Bharatmala, and Sagarmala, among others. However, the global economic slowdown and spread of COVID-19 pandemic pose a huge imminent challenge for India construction equipment market.

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Among all the product types, backhoe loaders and crawler excavators accounted for the largest individual shares in India construction equipment market in 2019, and the trend is expected to prevail during the forecast period. North is the dominating region in the country’s construction equipment market where a huge number of large-scale projects are being undertaken, followed by South, West and East regions. “Various upcoming infrastructure projects coupled with rising government expenditure towards construction sector in the country is expected to boost construction equipment market during the forecast period. Moreover, favorable government policies and surging foreign investments in construction equipment market are anticipated to fuel the market in the coming years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“India Construction Equipment Market By Segment, By Product Type, By Region, Competition, Forecast & Opportunities, 2025” has analyzed the potential of construction equipment market across the country, and provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by the industry.

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 About TechSci Research

TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.

Contact

Mr. Ken Mathews

708 Third Avenue,

Manhattan, NY,

New York – 10017

Tel: +1-646-360-1656

Email: sales@techsciresearch.com