New Delhi: India’s rooftop solar energy capacity has crossed 1 gigawatt (GW) mark this season with 513 MW generation capacity added over the past 12 months.”According to the Bridge’s report, titled ‘India Solar Rooftop Map’ , India’s rooftop solar capacity has crossed 1 GW mark this year,” confirmed by consultancy services provider Bridge to India.
India has added 513 MW of rooftop solar capacity over the past 12 months, growing at 113 per cent over previous 12 months, reaching total installed capacity of 1,020 MW, according to the report released today at Intersolar Mumbai. Last year’s production enhancement is much more than adding all previous years put together. 22 per cent of capacity added through PPA (power purchase agreements) based projects.CleanMax, Amplus Solar, Cleantech Solar, Azure Power, Rays Expert and Hero Future Energies are among the leading companies offering PPAs.
The rooftop solar market growth is directly associated with improving economics of rooftop solar. Most industrial and commercial consumers can reduce their power bills by 20-30 percent with rooftop solar power. It said this growth is predicted to continue for the years to come as well as the marketplace is expected to reach an overall total capacity of 12.7 GW by 2021.The report also highlights that industrial and commercial consumers dominate the market with about two third of the installed capacity. Grid parity for such consumers has now been achieved in 17 from the 19 largest states in India.
In states such as Maharashtra and Haryana, tariff differential between grid power and rooftop solar energy can be as high as 30 percent, it said.This has been much steeper than what most analysts had earlier predicted and has helped in getting the existing growth rate, it added. Tamil Maharashtra, Gujarat and Nadu are leading when it comes to total installed capacity. The government rooftop solar segment has expanded to in excess of 10 per cent altogether installed capacity.
Bridge to India MD Vinay Rustagi said, “Rooftop solar has become a side-story in the Indian solar sector so far but that is starting to change now. The sector is increasing rapidly and beginning to realise its potential, thanks largely to increasing cost competitiveness of rooftop solar power vs grid power.”
Mr Rustagi further said,”We expect rooftop solar to outpace growth in the utility solar market in the coming years. The government has announced attractive policies like net metering, subsidies for select customers and cheaper debt financing for your sector although there is huge scope for improvement on every front.