According to the report by Expert Market Research (EMR), the India solar photovoltaic (PV) market reached a capacity of 20.48 Gigawatt in 2025. Aided by strong policy support, declining solar module costs, and rising energy demand, the market is expected to witness robust growth during the forecast period. The market is projected to grow at a CAGR of 13.10% between 2026 and 2035, reaching a capacity of 70.14 Gigawatt by 2035. The increasing focus on renewable energy adoption and the country’s long-term decarbonisation goals are key factors supporting this expansion across India.

Solar photovoltaic technology converts sunlight directly into electricity using semiconductor materials and is widely deployed across utility-scale, commercial, industrial, and residential segments. In India, solar PV has emerged as a cornerstone of the national energy transition, offering a clean, scalable, and cost-effective solution to meet the growing electricity demand.

India Solar Photovoltaic (PV) Market Trends

A major trend shaping the India solar PV market is the rapid expansion of utility-scale solar parks, supported by government-led auction mechanisms. These large projects benefit from economies of scale, improved grid connectivity, and lower generation costs. Additionally, the rooftop solar segment is gaining momentum, driven by favourable net metering policies and increasing electricity tariffs for commercial and industrial consumers.

Technological advancements, such as high-efficiency mono PERC and bifacial modules, are also influencing market dynamics. The integration of energy storage systems with solar PV projects is emerging as a key trend, enhancing grid stability and enabling round-the-clock renewable power supply.

Get a Free Sample Report with Table of Contents

Drivers of Growth

The primary driver of the India solar PV market is the strong policy and regulatory support from the government, including ambitious renewable energy targets and incentive schemes. The push to reduce dependence on fossil fuel imports and enhance energy security has further accelerated solar capacity additions.

Moreover, the declining cost of solar modules and balance-of-system components has significantly improved project viability. Rising corporate commitments towards sustainability and renewable power procurement are also boosting demand, particularly in the commercial and industrial segments.

India Solar Photovoltaic (PV) Market Forecast

Looking ahead, the India solar photovoltaic market is poised for sustained growth over the forecast period. With a projected CAGR of 13.10% from 2026 to 2035, the market is expected to reach 70.14 Gigawatt by 2035. Continued investments in renewable infrastructure, supportive policies, and technological innovation will play a crucial role in shaping the long-term growth trajectory of the India solar PV market.