India’s solar balance of system (BoS) market—covering everything except solar panels—is expected to grow from $3 billion in 2024 to $7 billion by 2029, with a CAGR of 16%, according to a report by 1Lattice. This growth is powered by India’s clean energy goals, including the target of 500 GW of non-fossil fuel capacity by 2030 and generating 50% of electricity from renewables.
Government schemes like PM-KUSUM, Grid Connected Solar Rooftop, and the Delhi Solar Policy are accelerating solar adoption across rural and urban areas. These policies are also opening up new opportunities for innovation and local manufacturing in BoS components like inverters, mounting structures, trackers, wiring, and batteries.
Industry experts emphasize the growing importance of BoS components in scaling solar power sustainably. “As the world races toward decarbonization, the focus must go beyond solar panels to the infrastructure that supports them,” said Abhishek Maiti, Director of Industrial Goods and Services. He added that now is the time for manufacturers, investors, and policymakers to align their strategies and capitalize on this upcoming BoS boom.
On a global scale, the BoS market is also projected to expand from $60 billion in 2024 to nearly $100 billion by 2029, driven by strong clean energy commitments and government incentives worldwide. As India advances its energy transition, BoS infrastructure will play a critical role in ensuring the long-term scalability, efficiency, and sustainability of its solar ambitions.
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Resource: Free Press Journal
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