India Solar Rooftop Map 2018

BRIDGE TO INDIA, a leading consulting and knowledge services provider in the Indian renewable energy market, has released latest edition of its India Solar Rooftop Map report (March 2018 edition). As per the report, total rooftop capacity has reached 2,538 MW with installation of 1,142MW in FY 2017-18. Following are the key findings of the report:

 

  • The market continues to grow rapidly with growth of 68% in FY2017-18 but growth has slowed down in comparison to last year (81%);
  • OPEX model, where third party developers own and develop the projects on customer sites, is growing faster than the rest of the market (164% y-o-y) and added 392 MW capacity in the year;
  • Maharashtra remains the leading state with total installed capacity of 309 MW, followed by Tamil Nadu (253 MW), and Gujarat (170 MW);
  • Commercial and industrial (C&I) consumer market segments dominate the market accounting for 64% share;residential rooftop solar market has grownat 65% in FY 2017-18 and reached 503 MW
  • There has been some churn in the leading player rankings – Cleantech Solar is the new market leader in project developer category with a share of 16%; it is followed by Cleanmax Solar (13%), ReNew (10%);
  • In the inverter market, even after losing market Delta continues to lead with a market share of 28%(36% last year), however Chinese suppliers including Growatt, K-Star, Solis and Huawei have substantially growth their presence with a combined share of 23%;
  • EPC market is becoming more fragmented with top ten players having a share of only 18% (21% last year) as small regional players compete strongly on price; top three players include Tata Power (6%), Fourth Partner (3%) and Sunsure (2%);
  • More than 527 MW of rooftop solar tenders were issued by public sector entities in FY 2017-18 although actual capacity addition in this segment remains weaker than expected;
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