The latest report from Lux Research terms India as one of the hottest markets for solar power production. The report indicates that the current down trend in the solar subsidies offered by Germany will drive investors to greener markets such as India.
The report detailed the growth potential of around 15 upcoming solar markets all over the world and rated India in a higher position due to the encouraging type of government subsidies, ever increasing energy demand and requirement for distributed type of energy generation.
The report indicates that under the Solar Mission plan of the government India, the country is marked to grow and install solar projects worth 20 GW before 2022. The report mentions the growing opportunities for companies such as TATA BP Solar, a partnership venture of TATA Power and BP and Moser Baer that manufacture crystalline silicon solar modules, which are preferred for the projects under the solar mission. The report rates First Solar of USA as the leading beneficiary because of its cadmium telluride solar panels, which are not included in the list of domestic content requirement.
The other solar growth markets identified by the research include Malaysia, Israel and Cypress and terms the UK and South Africa as strong markets because of the support they receive from the local governments. The other larger solar markets that do not offer solar incentives include countries such as Mexico, Brazil and Russia.