With over 300 million houses in India, over 300 days of sunshine a year, an ambitious target of 40 gigawatts of rooftop solar by 2022, and various states formulating rooftop solar policies, there should have been a solar revolution in Indian homes.
According to Bridge To India report, titled ‘India Solar Rooftop Map’, India’s rooftop solar energy capacity has surpassed the 1 gigawatt (GW) mark this year. The growth is expected to continue in the years to come and the market is expected to reach a total capacity of 12.7 GW by 2021 in India, says the report.
Rooftop Solar Power (Representative Image Source: First Green
India has added rooftop solar 513 MW generation capacity added over the past 12 months, achieves a growth of 113 percent. Under OPEX (operational expenditure) model, a third-party developer finances and installs the system on rooftop owner/consumer’s premises and sells all power output to him says Bridge To India.
The OPEX model has been very successful internationally and remains so in India as consumers do not want to incur upfront capital costs but still want to benefit from falling costs of solar power.
Tamil Nadu, Maharashtra, and Gujarat are leading in terms of total installed capacity. The government rooftop solar segment has grown to over 10 percent in total installed capacity.
Most commercial and industrial consumers can reduce their power bills by 20-30 percent with rooftop solar power. Last year’s capacity addition is more than the addition of all previous years put together. 22 percent of capacity added through PPA (power purchase agreements) based projects.
CleanMax, Amplus Solar, Cleantech Solar, Azure Power, Rays Expert, and Hero Future Energies are some of the leading companies offering PPAs.
Bridge to India MD Vinay Rustagi said, “Rooftop solar has been a side-story in the Indian solar sector so far but that is beginning to change now. The sector is growing rapidly and beginning to realize 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 such as net metering, subsidies for select customers, and cheaper debt financing for the sector although there is huge scope for improvement on every front,” reports Business-Standard.