525 MW of rooftop capacity installed till October ’15, says the India’s Solar Rooftop Map by BRIDGE TO INDIA
- 455 MW estimated new capacity addition over next 12 months
- As government starts withdrawing subsidies, consumer driven business models begin to take off
- Delta and SMA together capture 41% of the total market share in inverter supplier category for rooftop segment
- In last one year about 240 MW of rooftop installations were commissioned
- Market is expected to grow at a sustained pace of more than 50% CAGR until 2020
- Net metering policies have been introduced in 23 states and 7 UTs
New Delhi, November 18, 2015: BRIDGE TO INDIA, a leading consulting and knowledge services provider in the Indian cleantech market, announced in its latest edition of India Solar Rooftop Map that India’s rooftop solar capacity has reached 525 MW this year. According to the publication, over the past 12 months India installed solar capacity almost equivalent to what the country added in the past 3 years combined.
According to the publication, released today at Intersolar Mumbai, the India rooftop solar industry has witnessed a 66% growth over the last year despite lack of specific rooftop initiatives, which are enjoyed by the utility scale solar segment. This growth is directly linked to improved project economics and is expected to continue accumulating up to 6.5 GW of installed rooftop solar capacity until 2020.
Tamil Nadu, Maharashtra and Gujarat are leading in the total installed capacity, with Tamil Nadu outperforming all the states. Its sterling performance, especially in the industrial segment, can be attributed to high consumer awareness, high industrial and commercial tariffs, and wide gap between energy demand and supply in the highly industrialised state.
The map also highlights that India is fast approaching nationwide grid parity for all rooftop segments, particularly the commercial and industrial segments. Six new states have achieved grid parity for commercial consumers bringing total number of grid parity states to 19. Similarly, six new states have also achieved grid parity in the industrial segment increasing the total number of grid parity states to 17. However, while none of the states have achieved grid parity for residential segment, the gap between solar and grid tariffs has reduced substantially. The consultancy has identified rising grid tariffs and falling costs of solar to be the reasons for the reduction in gap between solar and grid tariffs.
Speaking on the launch of the map, Mr. Vinay Rustagi, Managing Director, BRIDGE TO INDIA, said, “This capacity addition comes at a time when the government has gradually started withdrawing the capital subsidies and the market grew mostly on its own fundamentals. Going forward, we expect tremendous growth opportunities in the rooftop solar market in India in next few years for both existing and new companies, fuelled mainly by reducing solar costs, increasing grid tariffs, increased customer awareness, robust policy support, and on-ground implementation of net-metering across all states.”
The map has also showcased that the rooftop solar sector’s ability to grow independently of government assistance, the increase in net-metering capable states from 9 as of last year to 23 states and 7 UTs this year will certainly help accelerate the market’s growth next year.
In all, India Solar Rooftop Map 2016 has highlighted the significant growth witnessed in the rooftop solar sector, presenting a strong case for a bright future for the rooftop solar industry in India.
About BRIDGE TO INDIA:
BRIDGE TO INDIA is a leading consulting and knowledge services provider in the Indian cleantech market. Our multi-functional experience expertise combined with comprehensive in-house research capability enable us to develop insightful and highly sought-after industry analysis. Our overarching goal is to provide customised cleantech solutions and enable innovative business models in India.
We work actively with all leading stakeholders including project developers and investors, energy customers, equipment suppliers, regulators, policy makers and development institutions. We have also helped a number of international top-tier cleantech companies in growing their business footprint in India by providing them with strategic advice, business planning, risk assessment and JV partner selection services.
About India Solar Rooftop Maps:
India Solar Rooftop Map is the country’s most comprehensive publication on the rooftop solar segment, with a reach of over 25,000 domestic and international stakeholders. It contains vital market information and identifies key trends and themes in India’s burgeoning solar rooftop segment. India Solar Rooftop Map is released at Intersolar Mumbai in November every year.