India’s Rooftop Solar Capacity Rises 26% to 1.1GW in H1 2024

India increased its rooftop solar energy capacity by 26% in the first half of 2024, adding 1.1 gigawatts (GW) compared to 873 megawatts (MW) during the same period in 2023. This indicates that India has achieved substantial success in increasing its rooftop solar energy capacity. The US-based analysis company Mercom Capital reported that rooftop solar installations are increasing at an accelerating rate, particularly in the second quarter of 2024.

Growth in Rooftop Solar Installations: India installed 731 MW of rooftop solar systems during the second quarter of 2024, which ran from April to June. This represents a notable 89% increase over the 388 MW added in the same period previous year. The paper states that as of June 2024, India had 11.6 GW of installed rooftop solar power. This increase indicates a tremendous rise in the use of rooftop solar energy across the country.

Industrial and Commercial Contributions: The study also examines how various industries have contributed to the expansion of rooftop solar capacity. With more than 23 percent of the installations during the quarter, the industrial industry was the biggest contributor. Concurrently, the government and commercial sectors made up 0.7% and 4% of the capacity additions, respectively. This demonstrates that although rooftop solar is being adopted by industrial users at the forefront, the commercial and government sectors still have room to develop.

Government Initiatives’ Effects: The Prime Minister’s “PM Surya Ghar: Muft Bijli Yojana” rooftop solar project is one of the main causes of the recent spike in rooftop solar installations. Customers’ interest in this program has grown significantly, which is motivating more homes and businesses to install rooftop solar panels. Raj Prabhu, CEO of Mercom Capital Group, stated that this government program has led to a notable growth in the rooftop solar business in India. He was upbeat about the residential sector’s installation rates continuing to improve gradually in the upcoming months.

Difficulties in the Rooftop Solar Sector: Prabhu cautioned about possible obstacles that might impede the expansion of the rooftop solar industry, albeit its encouraging trajectory. Problems including solar module availability, component shortages, and cost increases could be major roadblocks. In order to maintain the current trajectory of rooftop solar installation development, these concerns must be rapidly addressed.

State-by-State Contributions: As of June 2024, the top 10 states in India accounted for the majority of the nation’s rooftop solar capacity, according to the research. When combined, these states were responsible for more than 78% of rooftop solar installations In terms of installations, Gujarat, Maharashtra, Rajasthan, Kerala, and Karnataka were the top states. These states have paved the way for other states to follow by actively promoting and embracing rooftop solar energy.

India’s rooftop solar sector is undoubtedly expanding, as seen by the notable capacity gains that are seen every year. Initiatives from the government, especially the PM Surya Ghar: Muft Bijli Yojana, have been instrumental in quickening this rise. Although rooftop solar has become most popular in the industrial sector, there is still a lot of room for growth in the residential, commercial, and government sectors as well. However, resolving the issues with the supply chain and cost considerations is crucial to maintaining this development. Preserving the momentum behind rooftop solar installations will need guaranteeing the accessibility of solar modules and components at reasonable costs.

Success in the rooftop solar industry would be critical as India works to meet its targets for renewable energy. India can keep growing its solar energy capacity and contribute to a more sustainable and greener future with steady policy backing and business cooperation. While the current state of affairs is encouraging, much work remains before rooftop solar energy in the nation can reach its full potential.

The image added is for representation purposes only