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India's rooftop solar capacity addition tripled to 1.3 GW during January-September 2021 as compared to the same period a year ago, as per a report.
The country added 448 megawatts (MW) of rooftop solar in July-September this year, a 14 per cent drop quarter-on-quarter (QoQ) compared to 521 MW installed in April-June, according to Mercom India Rooftop Solar Market Report Q3 2021.
"In the first nine months (9M) of 2021, India added 1.3 GW of rooftop solar, a 202 per cent increase compared to 9M 2020 (January to September). Installations are the highest ever recorded in the 9M of a year," it said.
Rooftop solar installations in July-September (Q3) were up 189 per cent year-on-year (YoY).
In Q3 2021, 54 per cent of rooftop solar was installed in the residential sector, followed by commercial & industrial, and government sectors, with 44 per cent and 2 per cent, respectively. Residential installations were the highest for the second quarter in a row.
"The rooftop market is showing signs of recovery and back to pre-COVID levels. However, the rise in component costs and availability of materials is weighing heavily on the market, throttling growth. States have continued to put up restrictions on rooftop solar, making new development challenging," said Raj Prabhu, CEO of Mercom Capital Group.
According to the report, at the end of Q3 2021, cumulative rooftop solar installations reached 6.7 GW.
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In Q3, over 200 MW of rooftop solar projects were tendered, an increase of 62 per cent QoQ and 125 per cent YoY. About 47 per cent of the tenders were announced by the Kerala State Electricity Board, 24 per cent by West Bengal State Electricity Distribution Company, and 29 per cent by other state nodal agencies.
According to the report, tender activity to empanel vendors under Phase-II of MNRE's Grid-Connected Rooftop Solar Programme was also robust.
Tripura, West Bengal, Bihar, Kerala, Uttar Pradesh, Uttarakhand, and Haryana are empanelling vendors to install residential rooftop solar systems.
Gujarat is the leading state for cumulative rooftop solar installations with 26 per cent, followed by Maharashtra and Rajasthan, which added 14 per cent and 10 per cent, respectively. In Q3 2021, the top 10 states accounted for approximately 83 per cent of cumulative rooftop solar installations.
Uttarakhand registered the highest compounded quarterly installation growth with 35 per cent, followed by Maharashtra and Haryana with 31 per cent and 29 per cent.
Post-Covid second wave, the prices of components have been steadily increasing, with no signs of slowing down. The report noted that system costs had risen steadily in 2021 with a 3.8 per cent rise during Q1, a 3 per cent rise during Q2, followed by a 2.3 per cent rise during Q3 2021. Rooftop system costs have increased by 9 per cent over the past 12 months.
The report noted that installers are receiving an increasing number of inquiries from consumers who realize the economic and environmental benefits of going solar.
The report also showcases industries in the top six industrial states that have a potential for installing rooftop solar projects.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
