India installed 1.7 GW of rooftop solar capacity in 2023, the second-highest annual installation numbers on record, according to Mercom India Research’s newly unveiled 2023 Q4 & Annual Mercom India Rooftop Solar Market Report. However, the capacity addition rose only by 3.7% as many commercial and industrial consumers held off on new projects while waiting for solar module prices to stabilize. Lower module prices forecasted in early 2024 are expected to help companies reduce project costs.