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SOLAR POWER INDUSTRY

There is greater interest in the use of renewable energy sources.

Decreasing energy production costs, increasing public environmental responsibility are prompting more consumers to consider renewable energy sources. Residential solar energy, in particular, is gaining traction around the world.  The major factors influencing the switch-over include environmental benefits, cost savings, energy independence and reliability.

Robust growth is expected across all three market segments of solar power: residential, non-residential, and utilities, by end of this decade. Utilities will account for the largest capacity growth while residential consumers have pursued solar, despite the relatively high but steadily decreasing price tag.  Many of the business powers with their need for larger power are moving faster with 70% planning to move ahead within two years as solar installation is much less complex.

As the solar energy industry matures, the associated infrastructure and related technologies must develop to maintain utility network performance. Energy supply and demand forecasting, distribution planning, network connectivity and communications, as well as consumer interaction, will need to change significantly.  Due to the rapidly changing consumer technologies as well as environmental consciousness, the new energy market, will be more competitive.

The pace of residential solar energy adoption will not be regulated by government policies and dates, but exposed to much more unpredictable individual consumer choices and many customers are poised to choose solar.

Israeli Solar companies have lot to offer in the Solar power industry. For further information, please contact the Trade and Economic Mission in the Israeli Consulate General to South India, in Bengaluru.

For further queries, contact:

Veshala Gajaraj – Trade Officer, Bengaluru – +91-80-49406517

Email: Veshalakshe.Gajaraj@israeltrade.gov.il