India Solar Rooftop Map is an info-graphic report providing a snapshot of rooftop solar market in India – capacity addition across states and consumer segments, market share of leading players and other key trends. Total rooftop solar capacity is estimated to have reached 16,914 MW by June 2024. Total new installations in year-ending June 2024 are estimated at 4,151 MW, up a staggering 73% over previous year.
Figure: Total installed capacity as on 30 June 2024, MW
Source: CRISIL-BRIDGE TO INDIA research
Key highlights of the year:
- Capacity addition picked up across consumer segments mainly on the back of pent-up demand, falling costs and waiver from ALMM requirements until March 2024.
- Residential segment accelerated growth further, accounting for 45% share in new installations, up from 31% last year. Gujarat (867 MW), Maharashtra (306 MW), Kerala (212 MW) and Uttar Pradesh (102) were the leading states.
- The corporate segment saw capacity addition of 2,281 MW, up 38% from last year with Karnataka, Maharashtra, Tamil Nadu and Rajasthan as the growth engines.
- OPEX model saw a further drop in new installations at an estimated 294 MW capacity reaching a new low for market share of only 7%.
- Overall project viability continues to improve as EPC cost for residential and corporate systems reduced by 23% and 18% y-o-y reaching INR 45/ Wp and 30/ Wp respectively by June 2024.
