Rooftop solar installations in the country grew by 3.2 per cent to 872 megawatt (MW) during January-June period of 2023, Mercom India said. In H1 or first half of 2022, 845 MW of rooftop solar capacities were installed in India, the research firm said.
India's cumulative rooftop solar capacity reached 9.6 gigawatts (GW) at the end June 2023, the 'Mercom India Rooftop Solar Market Report' said. In the second quarter, 387 megawatts (MW) of rooftop solar capacity was added, which is 20 per cent higher compared to January-March 2023, and marginally down by 0.5 per cent over April-June 2022.
"Rooftop solar did not meet expectations in H1, even with falling component prices and growing demand. We see a much stronger second half as installers holding out for better margins start ramping up installations and meeting demand at a much quicker pace" said Raj Prabhu, CEO of Mercom Capital Group.The capacity additions by residential consumers accounted for 54 per cent, industrial consumers 25 per cent, and commercial consumers 21 per cent.
"Rooftop solar did not meet expectations in H1, even with falling component prices and growing demand. We see a much stronger second half as installers holding out for better margins start ramping up installations and meeting demand at a much quicker pace" said Raj Prabhu, CEO of Mercom Capital Group.The capacity additions by residential consumers accounted for 54 per cent, industrial consumers 25 per cent, and commercial consumers 21 per cent.
Industrial installations were primarily in pharmaceuticals, chemicals, fast-moving consumer goods (FMCG), automobile and auto component sectors, among others. Gujarat was the leading state for cumulative rooftop solar installations, followed by Maharashtra and Rajasthan.
(Only the headline and picture of this report may have been reworked by the Loom Solar staff; the rest of the content is of Business Standard.)
