MarketsandMarkets Presents

India is expected to register the highest CAGR in the Asia Pacific perovskite solar cell market during the forecast period

India is expected to be the largest market for perovskite solar cells in Asia Pacific. According to the Ministry of New and Renewable Energy recommendations, imported PV cells and modules should have a basic customs duty. The ministry has brought in a manufacturing-linked tender with an inbuilt subsidy to promote the domestic manufacturing of PV cells and modules. With the government pushing for local manufacturing of PV cells and modules in India, the research and development for perovskite solar cells are expected to grow significantly in the country during the forecast period.