Latest news with #PM-SuryaGharMuftBijliYojana
Yahoo
28-05-2025
- Business
- Yahoo
India Inverter Duty Transformer Market Forecast and Competitive Landscape Report 2025-2030: Government Initiatives Propel Expansion, Solar Applications Lead Revenue Growth
India's inverter duty transformer market is poised for substantial growth, fueled by rapid expansion in renewable energy, specifically solar and wind. In 2022, India achieved a 9.83% growth in renewable energy, with solar capacity surging 30-fold to 92.712 GW by Sept 2024. This growth will drive the inverter duty transformer market at a projected CAGR of 11.1% from 2024-2030. Government initiatives like PM-KUSUM and significant budget allocations bolster this sector, ensuring robust demand for efficient power conversion solutions. Dublin, May 28, 2025 (GLOBE NEWSWIRE) -- The "India Inverter Duty Transformer Market | Value, Forecast, Outlook, Size & Revenue, Analysis, Companies, Segmentation, Trends, Growth, Industry, Competitive Landscape, Share: Market Forecast By Power Ratings, By Application, By Phase and Competitive Landscape" has been added to offering. India Inverter Duty Transformer Market revenues are projected to grow at a CAGR of 11.1% from 2024 to 2030. The India inverter duty transformer market is experiencing robust growth, largely driven by the rapid development of the nation's renewable energy sector. This growth is underpinned by India's commitment to reducing carbon emissions, as evidenced by a 9.83% year-on-year increase in renewable energy in 2022. Over the past nine years, the country's solar energy capacity multiplied 30-fold, reaching 92.712 GW by September 2024. As of October 2024, India's renewable energy capacity surpassed 203 GW, with substantial contributions from solar and wind energy, measuring 92.12 GW and 47.72 GW, respectively. India's goal to achieve 500 GW of non-fossil fuel-based energy by 2030, alongside a reduction of 1 billion tons of carbon emissions, underscores the demand for efficient power conversion systems like inverter duty transformers. Key government initiatives like PM-KUSUM, Solar Rooftop Phase II, and the Solar Park Scheme aim for a 38 GW capacity by 2026, significantly advancing renewable energy adoption. The Union Budget 2024-25 allocated ?10,000 crore for solar projects and introduced the PM-Surya Ghar Muft Bijli Yojana with ?75,000 crore to enhance solar energy penetration in rural areas. Investments are also geared towards developing transmission networks to integrate 500 GW of renewable energy by 2030, emphasizing the critical role of inverter duty transformers in stabilizing and converting renewable energy into grid-compatible power. Market Segmentation By Power Rating The 5.1 to 10 MVA segment is expected to drive significant revenue growth, fueled by demand from mid-sized commercial and industrial solar projects and medium-capacity wind installations. This power range is ideal for commercial-scale solar farms and industrial complexes, offering versatility for both grid-connected and off-grid systems. Market Segmentation By Application Solar is anticipated to hold the highest revenue share in India's Inverter Duty Transformer market. Large-scale projects such as the Pavagada and Bhadla Solar Parks, alongside the government's National Solar Mission, are pivotal in achieving 500 GW of renewable energy by 2030. The increase in rooftop solar installations bolsters demand further, ensuring long-term growth for the sector. Market Segmentation By Phase Three-phase inverters are likely to dominate due to their superior economies of scale, offering better load balancing and lower operational costs. They are essential for large-scale projects, such as ReNew Power's 1.5 GW solar and Adani Green's wind farms, ensuring efficient energy distribution. Their long lifespan and reduced maintenance make them a preferred choice for industrial and commercial applications. Key Highlights of the Report: Market Overview and Outlook Market Forecast Historical Data and Forecast of Market Revenues for 2020-2030 Industry Life Cycle Market Dynamics: Drivers and Restraints Trends and Evolution Opportunity Assessment by Service Type and Verticals Revenue Share by Top 3 Companies Market Competitive Benchmarking Company Profiles and Strategic Recommendations Tesla Power Equipments and Projects Private Limited Danish Power Limited Raychem RPG Private Limited Shilchar Technologies Ltd. Ornet Transformers llp Uttam Bharat Electricals Pvt. Ltd. Telawne Power Equipments Private Limited Nucon Switchgears Pvt. Ltd. INDCOIL Pvt Ltd. Esennar Transformers Elmag Transformers Servokon Systems Limited Kalpa Electrikal Pvt Ltd Hammond Power Solutions Transformers & Rectifiers (I) Limited By Power Ratings Below 5 MVA 5.1-10 MVA Above 10 MVA By Application Solar Wind Hybrid Energy Storage Systems (ESS) By Phase Single Phase Three Phase For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
Time of India
26-05-2025
- Business
- Time of India
India registers 3-fold growth in renewable energy capacity to 232GW in last decade
India has logged threefold growth in its renewable power capacity in the last decade, with the installed green energy capacity reaching 232GW, including large hydro power plants, currently compared to 75.52GW capacity in March 2014, official sources said. India has emerged as a global front runner in renewable energy space as the traiff of the grid-connected solar power plants has gone down by 80 per cent to Rs 10.95 per unit (for 170MW at Neemuch), sources said. In March 2014, India's installed solar energy capacity was 2.82 GW, which has crossed 108GW now, recording multifold growth. Wind energy capacity has more than doubled to 51GW presently from 21GW in 2014. Sources mentioned that during the UPA regime, India was almost absent in the solar manufacturing scene, with a meagre 2GW of solar module production in 2014. In 2024, India has transformed into a global leader, with solar module manufacturing skyrocketing to 90GW and by 2030, the nation will reach an impressive 150GW, they said. In 2014, India had almost zero domestic production of solar cells and wafers, which was a stark failure of the previous government's policy, official sources said. Today, India has built a strong foundation with 25GW of solar cell production and 2GW of wafer production. India has planned solar cells and wafer capacity of 100GW and 40GW respectively by 2030, which is aimed at reducing dependence on imports and becoming a self-sustaining power house. Even in fully integrated production, the country has reached 3.2GW in 2024, with a target of 24GW by 2030. Similarly, the biopower generation capacity has increased by 42 per cent from 8.1GW to 11.5GW over the last 10 years. Compressed Biogas (CBG) sector expanded from a single project with 8 tonnes per day (TPD) CBG generation capacity in 2014 to 150 projects with a cumulative capacity of 1,211 TPD in 2024. The PM-Surya Ghar Muft Bijli Yojana , has gained significant traction, benefitting almost 13.3 lakh households, with nearly 12 lakh installation in the past 10 months, sources stated. India has added a record 25GW of renewable energy capacity in 2024, which is 34.63 per cent higher than 18.57 GW achieved in the previous year. India has set an ambitious target of having 500GW of renewable energy capacity by 2030, which requires the addition of about 50GW of green capacity per annum in the next five to six years, they stated. Four renewable energy implementing agency (REIA), SECI, NTPC , NHPC and SJVN , have collectively issued RE power procurement tenders of around 44GW in fiscal year 2024-25. Earlier in April, India became the world's third-largest producer of electricity from wind and solar energy in 2024, overtaking Germany.
Time of India
25-05-2025
- Business
- Time of India
India's renewable energy capacity triples in a decade, reaches 232 GW; eyes 500 GW by 2030
AI-generated image India's renewable energy sector has seen remarkable growth over the past decade, with installed green energy capacity surging to 232 GW from 75.52 GW in March 2014, . This threefold increase signifies the country's emergence as a global leader in clean energy. Notably, solar power has driven much of this transformation. Solar energy capacity has grown exponentially from just 2.82 GW in 2014 to over 108 GW in 2024. Wind energy capacity has also more than doubled, rising from 21 GW to 51 GW over the same period. Large hydro power plants also contributed to this growth. Tariffs for solar power have dropped by 80 per cent over the decade, with current rates as low as Rs 10.95 per unit at Neemuch, significantly boosting affordability and adoption. India's solar manufacturing capabilities have similarly expanded. In 2014, solar module production capacity stood at a modest 2 GW. By 2024, this has jumped to 90 GW, with projections estimating 150 GW by 2030. Solar cell production now stands at 25 GW, and wafer production at 2 GW—up from negligible levels a decade ago. The government targets solar cell and wafer capacities of 100 GW and 40 GW, respectively, by 2030, with fully integrated production capacity expected to reach 24 GW. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Bee Keepers of India Selling Pure Honey online to Indian consumers via Ecommerce Website Scrolling Bee India Read More Undo Biopower capacity has also seen steady growth, increasing by 42 per cent from 8.1 GW in 2014 to 11.5 GW in 2024. The compressed biogas sector, once limited to a single project with an 8 tonnes per day (TPD) capacity, now boasts 150 projects with a combined capacity of 1,211 TPD. In the rooftop solar segment, the PM-Surya Ghar Muft Bijli Yojana has made a substantial impact, supporting 13.3 lakh households. Of these, approximately 12 lakh installations have been completed in just ten months. India added 25 GW of renewable energy capacity in 2024 alone, marking a 34.63 per cent rise from the previous year's 18.57 GW. To meet its ambitious target of 500 GW of renewable energy capacity by 2030, the country must continue adding around 50 GW annually. In line with these goals, four renewable energy implementing agencies have issued tenders for approximately 44 GW for the fiscal year 2024–25. As of April 2024, India has become the world's third-largest producer of electricity from wind and solar energy, surpassing Germany and consolidating its position as a key player in the global clean energy transition. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
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Business Standard
25-05-2025
- Business
- Business Standard
India's renewable energy capacity grows 3-fold to 232GW in last decade
India has logged threefold growth in its renewable power capacity in the last decade, with the installed green energy capacity reaching 232GW, including large hydro power plants, currently compared to 75.52GW capacity in March 2014, official sources said. India has emerged as a global front runner in renewable energy space as the traiff of the grid-connected solar power plants has gone down by 80 per cent to Rs 10.95 per unit (for 170MW at Neemuch), sources said. In March 2014, India's installed solar energy capacity was 2.82 GW, which has crossed 108GW now, recording multifold growth. Wind energy capacity has more than doubled to 51GW presently from 21GW in 2014. Sources mentioned that during the UPA regime, India was almost absent in the solar manufacturing scene, with a meagre 2GW of solar module production in 2014. In 2024, India has transformed into a global leader, with solar module manufacturing skyrocketing to 90GW and by 2030, the nation will reach an impressive 150GW, they said. In 2014, India had almost zero domestic production of solar cells and wafers, which was a stark failure of the previous government's policy, official sources said. Today, India has built a strong foundation with 25GW of solar cell production and 2GW of wafer production. India has planned solar cells and wafer capacity of 100GW and 40GW respectively by 2030, which is aimed at reducing dependence on imports and becoming a self-sustaining power house. Even in fully integrated production, the country has reached 3.2GW in 2024, with a target of 24GW by 2030. Similarly, the biopower generation capacity has increased by 42 per cent from 8.1GW to 11.5GW over the last 10 years. Compressed Biogas (CBG) sector expanded from a single project with 8 tonnes per day (TPD) CBG generation capacity in 2014 to 150 projects with a cumulative capacity of 1,211 TPD in 2024. The PM-Surya Ghar Muft Bijli Yojana, has gained significant traction, benefitting almost 13.3 lakh households, with nearly 12 lakh installation in the past 10 months, sources stated. India has added a record 25GW of renewable energy capacity in 2024, which is 34.63 per cent higher than 18.57 GW achieved in the previous year. India has set an ambitious target of having 500GW of renewable energy capacity by 2030, which requires the addition of about 50GW of green capacity per annum in the next five to six years, they stated. Four renewable energy implementing agency (REIA), SECI, NTPC, NHPC and SJVN, have collectively issued RE power procurement tenders of around 44GW in fiscal year 2024-25. Earlier in April, India became the world's third-largest producer of electricity from wind and solar energy in 2024, overtaking Germany.
Time of India
25-05-2025
- Business
- Time of India
India registers 3-fold growth in renewable energy capacity to 232GW in last decade
India has logged threefold growth in its renewable power capacity in the last decade, with the installed green energy capacity reaching 232GW, including large hydro power plants, currently compared to 75.52GW capacity in March 2014, official sources said. India has emerged as a global front runner in renewable energy space as the traiff of the grid-connected solar power plants has gone down by 80 per cent to Rs 10.95 per unit (for 170MW at Neemuch), sources said. In March 2014, India's installed solar energy capacity was 2.82 GW, which has crossed 108GW now, recording multifold growth. Wind energy capacity has more than doubled to 51GW presently from 21GW in 2014. Sources mentioned that during the UPA regime, India was almost absent in the solar manufacturing scene, with a meagre 2GW of solar module production in 2014. In 2024, India has transformed into a global leader, with solar module manufacturing skyrocketing to 90GW and by 2030, the nation will reach an impressive 150GW, they said. In 2014, India had almost zero domestic production of solar cells and wafers, which was a stark failure of the previous government's policy, official sources said. Live Events Today, India has built a strong foundation with 25GW of solar cell production and 2GW of wafer production. India has planned solar cells and wafer capacity of 100GW and 40GW respectively by 2030, which is aimed at reducing dependence on imports and becoming a self-sustaining power house. Even in fully integrated production, the country has reached 3.2GW in 2024, with a target of 24GW by 2030. Similarly, the biopower generation capacity has increased by 42 per cent from 8.1GW to 11.5GW over the last 10 years. Compressed Biogas (CBG) sector expanded from a single project with 8 tonnes per day (TPD) CBG generation capacity in 2014 to 150 projects with a cumulative capacity of 1,211 TPD in 2024. The PM-Surya Ghar Muft Bijli Yojana , has gained significant traction, benefitting almost 13.3 lakh households, with nearly 12 lakh installation in the past 10 months, sources stated. India has added a record 25GW of renewable energy capacity in 2024, which is 34.63 per cent higher than 18.57 GW achieved in the previous year. India has set an ambitious target of having 500GW of renewable energy capacity by 2030, which requires the addition of about 50GW of green capacity per annum in the next five to six years, they stated. Four renewable energy implementing agency (REIA), SECI, NTPC , NHPC and SJVN , have collectively issued RE power procurement tenders of around 44GW in fiscal year 2024-25. Earlier in April, India became the world's third-largest producer of electricity from wind and solar energy in 2024, overtaking Germany.
