On Grid Solar System

An on-grid or grid-tied solar system is a system that works along with the grid. This means that any excess or deficiency of power can be fed to the grid through net metering. Many residential users are opting for an On-grid solar system as they get a chance to enjoy credit for the excess power their system produces and save on their electricity bills. You will always have power either from the solar system or from the grid. They do not have batteries.

Product Market Size & industry

The solar market in India is very attractive and the country is expecting investment worth $500 billion in renewable energy by 2028. India has a target to reach 227 GM of renewable energy by 2022 of which about 114 GW is planned for solar, 67 GW for wind, and balance for hydro and bio among others. The country’s installed renewable energy capacity stood at 94.43 GW as of February 2021. It is expected that by 2040, around 49% of the total electricity will be generated by renewable energy. In addition, the Government of India wants to develop a green city in every Indian state, powered by renewable energy.

In order to achieve the above target, the Indian Government has launched several schemes to encourage solar power generation in the country like Solar Park Scheme, VGF Schemes, CPSU Scheme, Defence Scheme, Canal bank & Canal top Scheme, Bundling Scheme, Grid Connected Solar Rooftop Scheme, etc. Many policy measures are also undertaken to promote the on-grid solar power plants.