India’s ambitious renewable energy targets and goals to reduce carbon emissions have made the Solar EPC (Engineering, Procurement, and Construction) services market in India a space with commendable growth. By 2030, India intends to reach 500 GW of renewable energy capacity, of which solar power will have a crucial role. The market of Solar EPC is driven by various factors. There has been a robust regulatory framework to encourage investments in solar infrastructure by government initiatives, like the National Solar Mission and many state-level policies. In addition, financial incentives such as subsidies and tax benefits are creating a conducive environment for solar projects.
Solar energy systems are also getting more economical thanks to technological advancements. The Solar EPC service providers are leveraging innovations in photovoltaic technology, energy storage solutions, and smart grid integration to deliver more reliable and efficient solar systems. Additionally, growing awareness of sustainable practices along with that of energy security is making businesses and consumers demand solar installations. With corporate sustainability credentials becoming ever more important and decreasing operational costs, more and more corporations are incorporating renewable energy sources. Therefore, the Solar EPC market’s competitive landscape is changing as more players are joining the market. New entrants run on innovative business models and partnerships to grab market share whereas established EPC firms are expanding their portfolios.
In this special issue, we introduce you to the top companies in this segment. Industry Outlook has identified the select few companies that have done particularly well in this sector with a high level of dedication. We have found that these companies have gone the extra mile in proving their commitment to meet the customer needs in an integrated manner.
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