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majority of revenues in off grid solar inverter both at residential and commercial level have been dominated by organized players. The major reason for inclination of share of organized players in the market can be attributed the fact that these players mainly supply to government- state government electricity board and to the industrial sector including commercial space, offices, hospitals and others. On the basis of capacity, inverter with capacity up to 3-5 KW has witnessed least contribution mainly on account of lack of awareness about solar energy conservation in rural areas, huge maintenance cost of PV modules, lesser shelf life of these inverters in rural areas due to lesser tolerance of PV modules to dust and soil and high cost of installation. Majority of the solar inverter manufacturing facilities are concentrated in Southern India, particularly in Bangalore. Major players such as Bonfiglioli, ABB India Limited and others have their production plant in Bangalore. Competition The market for solar inverters in India has been highly fragmented with presence of large number of global and domestic players. The market has remained concentrated in hands of top three players, who captured 61.0% of the overall installed capacity of solar inverters in India. In terms of installed capacity, ABB India Ltd emerged as the leading player in India solar Inverter market. During the period (2014-15), the company reached installed capacity of 1,000 MW of solar energy installation through solar inverters. SMA emerged as the second leader in terms of installed capacity followed by Bonfiglioli. Other players in the commercial/industrial land space include TMEIC, Schneider Electric, Hitachi Ho Rel and others. The residential solar inverter market in India is highly competitive and dominated by a few leading brands including and Su- Kam, Bonfiglioli, Luminous, Microtek, Tata Power and others. Su-kam is the market leader with dominant share in terms of SOLAR POWER revenue in India residential solar inverters market in FY’2015. The reason behind the popularity of Su-Kam is its wide range of residential rooftop solar inverters. The second major player in the residential rooftop solar inverter market has been Bonfiglioli. Future Prospects India has been facing a major power shortage, which is anticipated to continue over the next few years, keeping in mind the shortage of coal in the country and significantly rising power requirements. Companies have also been adopting efficient green technology methods in order to conserve environment and produce energy efficient products. Companies are also exploring opportunities for collaboration with larger and established players by forming joint ventures in order to consolidate their market reach as well as enhance their technical know-how. The market for solar inverters in India is projected to incline at a CAGR of 76.9% during FY’2016-FY’2020. The market for India solar inverter in future has been projected to be dominated by utility sector, followed by industrial and commercial sector (Source: Citation from Ken Research publication on India Solar Inverter Market Outlook to 2020) TABLE: INDIA SOLAR INVERTER MARKET FUTURE PROJECTIONS SEGMENTATION BY END USERS ON THE BASIS OF REVENUE, FY’2020 Particulars Percentage Share in FY’2020 Utility Sector 62.7% Industrial/Commercial Sector 33.4% Residential Sector 3.9% Total 100.0% Source: Ken Research Analysis 29 energetica INDIA · MAR | APR16


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