Rooftop Solar Segment on a Path to Recovery Despite Challenges

India installed 521 MW of rooftop solar capacity in the second quarter (Q2) of the calendar year (CY) 2021, an increase of 53% quarter-over-quarter (QoQ), the highest for any quarter, compared to 341 MW installed in Q1 2021, according to Mercom India Research’s latest report India Rooftop Solar Market Report Q2 2021.
The year-over-year (YoY) installations rose 517% compared to 85 MW in Q2 2020.
Despite the second wave of the Covid-19 pandemic and the state lockdowns, the installations were significantly higher than the previous quarter. Since the lockdowns were targeted, the industry was well prepared, and installation activity was not affected much.
The Ministry of Power’s (MoP’s) decision to approve net metering for loads up to 500 kW kick-started activity in the rooftop segment in June. The rooftop solar market has been seeing better financing opportunities with a reduction in debt cost and increased equity availability.
Mercom is hosting a virtual event, ‘Mercom India Solar Forum 2021‘ on October 21.
Spread over six sessions, the event will bring together industry leaders and stakeholders to share their views on various factors affecting the Indian solar industry.
A session dedicated to the segment titled ‘Rooftop Solar – Demand is Up Despite Policy Restrictions‘ will discuss the way forward for the Indian rooftop solar segment amidst the policy restrictions and uncertainty.
The stakeholders and regulators will share their thoughts and recommendations to create a path for rooftop solar to meet the demand for consumers wanting to go green.
The panelists include Ravinder Singh, Chief, Solar Rooftop Business, Tata Power; Honey Raza, Head, Sales-India, Ginlong Technologies; JJ Gandhi, Chief Engineer (Technical), PGVCL (Gujarat distribution licensee) and Lakshminarayanan Sankaran, Vice President, E&M, Bangalore International Airport Limited.
Gujarat has been leading residential rooftop solar installations and has expanded its SURYA-Gujarat program to 750 MW from the earlier 600 MW. The panelists will talk about how the state has succeeded in promoting solar adoption, unlike other states which view rooftop solar as a threat.
The expert from Tata Power, the top rooftop solar installer in India, will share the expectations and challenges in the sector.
The virtual event is free to attend. To register, you can click here.