Rooftop solar companies worst hit by Covid-19

BENGALURU: With over 80% of solar cells and modules used in Indian projects coming from China, the Corona virus outbreak has the utility scale solar industry hard, but the worst hit are rooftop sector players, because most of them are small sized companies, experts said.

Only about 25% of rooftop installation is accounted for by 10-12 leading players. Hence it is quite likely that small companies may go bankrupt or exit the business altogether because of the current lockdown. “Smaller rooftop players don’t have the financial capacity to bear losses or meet extra working capital requirements. They are also unlikely to get any financial assistance from the government or banks,” said Vinay Rustagi, Managing Director of renewable energy consultancy firm Bridge To India (BTI).