India’s residential rooftop solar capacity to increase by around 60% in FY2023: Report

India’s residential rooftop solar capacity will increase by around 60 per cent in the financial year 2023, according to a report by the Institute for Energy Economics and Financial Analysis (IEEFA) and JMK Research & Analytics.

The increasing need for cost savings and growing awareness among residential consumers, along with a strong push by the central government, is helping accelerate the pace of rooftop solar installations in India’s residential segment, it said.

“India has more than 300 million households and is endowed with abundant sunshine almost throughout the year, with an annual average of 300 sunny days. This shows that the potential for rooftop solar installations in residential spaces is huge in India.