Registering a record growth of 113 percent in a year, India has added 513MW of rooftop solar capacity over the past 12 months.
In a latest report by Bridge to India, a leading consultancy agency on India’s Cleantech sector, it was revealed that commercial and industrial consumers dominate the market with an installed capacity of 63 percent. Cumulative rooftop installations have touched 1,020 MW.
Around 22 percent of solar capacity has come from projects based on power purchase agreements (PPAs), the report said. CleanMax, Amplus Solar, Cleantech Solar, Azure Power, Rays Expert and Hero Future Energies are some of the leading companies offering PPAs, it said.
“Rooftop solar has been a side-story in the Indian solar sector so far, but that is beginning to change now. We expect rooftop solar to outpace growth in the utility solar market in the coming years. The government has announced attractive policies such as net metering, subsidies for select customers and cheaper debt financing for the sector, although there is huge scope for improvement on every front. There is also substantial rooftop capacity being created in the government sector itself,” said Vinay Rustogi, Managing Director, Bridge to India.
Tamil Nadu, Maharashtra and Gujarat are leading in terms of total installed capacity. With a growing number of government tenders, the government rooftop solar segment has grown to over 10 per cent in total installed capacity, the report said.
As per industry calculations, commercial and industrial consumers can reduce their power bills by 20-30 per cent by adopting rooftop solar power. The rooftop solar market is expected to reach a total capacity of 12.7 GW by 2021.
