While India's Ministry of New and Renewable Energy (MNRE) claims total rooftop solar capacity till July 2019 reached 2,141 MW, BTI estimates that a much higher 4,375 MW was India's capacity till March 2019, and it expects FY 2019 to add 1,836 MW of new capacity. (Source: Bridge to India)
- In a new report, Bridge to India says Indian installed rooftop solar power capacity increased at a CAGR of 66% over last four years to a total of 4,375 MW till March 2019
- The report claims most of the installed rooftop PV capacity is concentrated in the northern region of the country with 35% share
- Manufacturing sector claims 14% market share among C&I segment for rooftop solar in India; out of total installed capacity the C&I segment accounts for over 70% share
- Poor implementation of net metering policy and limited financing options in smaller C&I and residential customer segments are big obstacles for rooftop solar adoption in India
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Till the end of March 2019, India’s installed rooftop solar PV capacity is likely to have reached 4,375 MW, as per independent market intelligence firm Bridge to India (BTI). In a yet to be released report titled India Solar Rooftop Market Analytics, BTI says this market segment has grown at a compound annual growth rate (CAGR) of 66% in the last four years.
The BTI estimates are way higher than those presented by the country’s Ministry of New and Renewable Energy (MNRE) which claimed 1,796 MW of total rooftop solar capacity till March 31, 2019 and till July 2019, it had reached 2,141 MW (see 30 GW: India Installed PV Capacity Till July 2019).
According to BTI, the northern region of India has experienced most of this growth as it contributes 35% of total capacity installed till March 2019, followed by 29% coming from the southern states and 26% concentrated in western regions.
Most of this capacity, over 70%, is installed by commercial and industrial (C&I) consumers. Within this category it is the manufacturing sector that is the biggest adopter of rooftop solar accounting for 14% market share, followed by infrastructure and real estate at 9%, education at 8%, automotive and textiles at 7% each.
While education and infrastructure sectors opt for smaller installations, manufacturing, textiles, automotive and energy favour those over 250 kW system sizes. The report does find the market being highly fragmented and localized with a 55% share of small, local contractors, but this varies from state to state.
However, despite strong consumer demand the rooftop solar segment suffers from poor implementation of net metering policies and limited financing options in smaller C&I and residential customer segments, said BTI.
BTI forecasts a total addition of 1,836 MW of rooftop solar in financial year (FY) 2019 (period ending March 31, 2020) for India. It says tender activity for rooftop solar picked up pace in FY 2018-19 as central and government agencies together issued a total of 804 MW tenders in the year, increasing by 64% over the previous year.
The report is due to be released on September 2, 2019 and can be purchased from BTI.