Solar Panel Industry Size, Growth |

As of mid 2025, India’s installed solar capacity has surged to approximately 116 GW, making it one of the global leaders in solar energy adoption. In June 2025 alone, India added a record 5.4 GW of solar capacity bringing the national total to 116.3 GW.
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Electrical energy is the basic need today, and its demand is increasing all over the world. Also, the need for an alternate source for energy has gained importance, and as solar energy is renewable energy backed with the government's ambitious green energy targets. While ReNova offers installation and services, key competing brands in India’s solar panel, heater, and lighting space include all industry players with Rayzon, Waaree, Luminous and many more..

Study Coverage: This study includes brief information about key products in the global solar panel followed by an overview of important segments and benefits. It also highlights the industry growth rates, different types, and application.

Segmentation:
By Type, the solar panel is divided into the Monocrystalline, Polycrystalline, Bifacial and thin-film solar panels.
By application, the solar panel industry is divided into On-Grid Solar Panels and Off-Grid Solar Panels.