Waaree Energies forecasts 30% solar growth

17 Oct 2024 , 02:44 PM

Waaree Energies, a leading manufacturer and installer of solar panels, anticipates rooftop solar (RTS) to account for at least 30% of overall sales in the future years, according to Amit Paithankar, Chief Executive Officer, who talked to ET.

“In the next five years, RTS could significantly contribute to our revenue, highlighting its importance in our strategic roadmap…”In the coming years, we should expect RTS to account for at least 30% of our revenue, if not more.

“As we gear up for this massive shift, our PV module manufacturing capacity expansion plans are well on-track and as it is, we have ample infrastructure to meet the foreseen demands,” he stated

Furthermore, he stated that the goal of producing 100 GW of RTS by 2030 is very realistic, but with its own set of hurdles.

Some of the biggest challenges are a lack of awareness, financial limits, and the necessity for novel storage methods.

Paithankar, on the other hand, believes that the industry must develop and collaborate in these areas as well.

“At Waaree Energies, we consider these challenges as opportunities to lead by example and we do so by investing in local R&D, scaling up domestic manufacturing, and fostering partnerships that can drive down costs and make RTS accessible to all,” stated the CEO.

For feedback and suggestions, write to us at [e-mail]