There is good news for renewable energy fans or business persons. The growth in the installation of solar panels has been doubled over the last few years. The major growth has seen with Residential Solar Power Systems. Many people across the world like to go solar power for their homes. The market experts say “if this growth continues, then there will be a revolution in the solar industry”. The people are getting awareness and getting serious about it. This creates huge opportunity for the renewable industry to strengthen their market.
In 2011, the market for renewable energy in India was not up to the mark. So, only few solar manufacturing companies were there. The price on the products also was very. As people started to show interest on these alternative solutions, the market for this business also started to get an increase. By the end of 2018, you can see most of the building’s roof will have solar panels.
This growth also helps to bring down the prices on the solar products. So, people started to go for solar energy for their homes. Before, only big industries were investing on the renewable energy. For common man to install this for their residency, it was going to cost huge. Thanks to the advanced technology and demand, the manufacturing companies able to bring down the investment cost of the solar products.
As a result, there is a dynamic growth of Residential Solar Power Systems. People started to invest, as it takes only one time investment and the rest can utilize at free of cost.
If you look at the growth of this country by country then USA, UK and Germany are well ahead in the renewable energy source. India is at the beginning of its solar journey and it is taking a good shape. In the future, India is going to generate 100 GW of power.
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