Originally posted on Medium (www.medium.com)
Written by Apoorva Shah
Dec 27, 2017 • 2 min read
The Indian Solar market is alive and kicking. We broke a record double installations in the first quarter this year. A total of 16 GW of installations has taken India to be the third biggest solar market in the world. The forecast for 100 GW installations looks clear.
India has achieved a total of 1,861 MW of Rooftop Solar installations in the year 2017. This is 6.5 times more than the total installed capacity in 2014 which was 285 MW. The market penetration by many new companies has helped the growth of this sector at a tremendous rate.
The market share in different segments of the Rooftop Solar industry is below:
The Residential sector is growing at a steady pace with 20.2% share of total installations. The Industrial sector has the highest installed capacity in the country with a total of 798 MW. According to the report from Bridge to India over 80% of Rooftop Solar plant installations are under CAPEX model. With the rise in falling tariffs, consumers are opting to own their Rooftop Solar Plant rather taking it on loan.
Karnataka ranks 4th in total rooftop installations with 125 MW, behind Rajasthan with 129 MW. Maharashtra has the highest Rooftop Solar capacity addition this year at 237 MW surpassing Tamil Nadu with 191 MW.
The total installations are majorly located in Southern India with Maharashtra leading at 237MW followed by Tamil Nadu with 191MW and with Karnataka at 125 MW. There is huge potential for rooftop sector is in these three states as we have highlighted in our previous blog. The rooftop solar sector is expected to grow tremendously as the southern states receive more sunshine compared to other states and half the world.
The total rooftop installations are estimated to grow to 10.8GW in the year 2021 which is 27% of the target that is set by the government. The Residential sector will be the icing on the cake, as more owners understand the benefits of Solar for the next 25 years.
Our next step is to make Rooftop Solar mandatory for new buildings, similar to the policies made by Delhi, Chandigarh and Uttar Pradesh.
Source: Bridge to India Roadmap 2017
Originally posted on our Medium profile • Dec 27, 2017