Indian rooftop solar market has grown rapidly at a CAGR of 88% in the last five years and is estimated to have reached 3,399 MW as of September 2018. However, this is still way short of the required trajectory for meeting the government target of 40 GW by 2022.
CAPEX has been the preferred business model but the share of OPEX based installations has risen steadily to 35%. The market place is extremely dynamic and fast changing. Other hybrid business models have so far failed to take off.
We believe that the rooftop solar market holds huge growth potential. We expect total capacity addition of 18.8 GW in the next 5 years at an average growth rate of 40%.