The power sector of India is expected to grow in coming years on account of increasing demand of electricity from the end consumers. The increasing demand of electricity will result in development of new power generating stations. To ensure sustainable development the government has taken certain measures that will help in offsetting the harmful emissions from conventional methods of power generation.
In their report, “India Solar Rooftop Market Forecast & Opportunities, 2021” TechSci Research has analyzed the potential of the solar rooftop market in India and provides statistics and information on market sizes, shares and trends. Below is an overview of their findings:
The development of solar power systems is one of the major step towards sustainable development of the country. India has got rich potential for solar generation having around 300 sunny days in a year making it rich destination for solar power generators. There is a huge opportunity in the country to tap the solar potential and reduce the use of conventional fossil fuel.
There has been increasing awareness among the end consumers of electricity regarding the environmental issues which has led to development of clean energy technologies. The installation of solar power systems at the rooftop of office buildings, residential apartments, community centres, government buildings will result in huge upsurge in the market of rooftop solar business in India. Apart from that the reduction in price of solar panels will lead to increase in solar rooftop installation in the country.
India Solar Rooftop Market: Drivers and Restraints
The increasing focus on clean energy development mechanism supported by policy initiatives of the government are major drivers for solar rooftop market in the country. The renewable purchase obligation for power utilities companies, bulk consumers of electricity, etc. will result in installation of solar plants in the country to ensure adequate supply to the obligated entities. The viability gap funding of renewable energy projects will provide a big impetus to the rooftop solar projects because the monetary support from government will increase the economic value of the projects. The major hurdle in development of rooftop solar projects is the lack of proper energy storage technology. The solar power is an intermittent source of energy and it is generated during the day time when solar irradiations are high. The power generated must be consumed as soon as possible because the existing battery technologies have limited capacity in terms of energy storage.
India Solar Rooftop Market: Segmentation
The India rooftop market is segmented on the basis of Connectivity, End-Users and Region
Based on Connectivity, the India rooftop solar market is segmented into the following:
- On-Grid Connectivity
- Off-Grid Connectivity
Based on End-Users, the global gas genset market is segmented into the following:
India Solar Rooftop Market: Overview
The Solar Rooftop Market in India is anticipated to grow at a steady rate during 2016-2021, on account of increasing focus of the government on clean energy generation. The government of India has set an ambitious target of 100 GW of solar power addition in the country which includes 40 GW of rooftop solar. The net metering policy of the government will provide a big thrust to the rooftop solar business in the country. The provision of exporting the extra power generated from the solar plants to grid is a big boost for rooftop owners in the country.
The increasing pollution from fossil fuel is a one of the major reason for the government to focus on development of renewable energy in the country. The coal based power generation results in huge amount of green-house gases emissions which cause adverse effect on the atmosphere. In order to increase the penetration of clean energy in the energy mix of the country, solar rooftop can be very beneficial.
India Solar Rooftop Market: Region-wise Outlook
At present, Northern India is the leading region in solar rooftop market in India, followed by Southern, Western andEastern India. States such as Gujarat, Tamil Nadu, Rajasthan, etc. are rich in solar resources because they receive long and intensive sunny days. The Ministry of New and Renewable Energy has fixed ambitious targets for capacity addition in solar rooftop segment and Maharashtra, Tamil Nadu and Rajasthan have highest target of capacity addition in the rooftop solar installation by the end of 2022.
India Solar Rooftop Genset Market: Key Players
Key players in the Solar Rooftop Market in India include Tata Power Solar, Moser Baer Solar Group, Vikram Solar Pvt Ltd, Titan Energy Systems Ltd, ACME, Selco Solar Light Pvt Ltd, etc.