Mercom India Research has released its latest report, India Solar Market Leaderboard 2022, which reveals the solar industry market leaders for the calendar year 2021.
The report features the industry’s leaders, competitive landscape, market share, and shipment rankings across the Indian solar supply chain.
India installed a record 10 GW of solar capacity in 2021, a 210% growth compared to 3.2 GW in the same period last year. The newly installed solar capacity in 2021 reached a record high, making up 62% of the total power capacity additions in 2021.
The country has a robust pipeline of utility-scale solar projects with 47.5 GW capacity at the end of 2021, with auctions pending for another 24.5 GW of capacity.
According to the report, large-scale projects accounted for 83% of the total new installations, with 8.3 GW of new installations during the year. The report reveals that the top ten utility-scale project developers accounted for 68% of projects installed in 2021. ReNew Power was the top utility-scale developer in 2021, with most projects commissioned in the year.
Companies offering engineering, procurement, and construction (EPC) services saw many projects moved to 2021 due to the COVID-19 pandemic, land acquisition issues, and evacuation issues. Sterling & Wilson was the top EPC player for utility-scale solar installations for the year.
India installed 1.7 GW of rooftop solar in 2021, a 138% increase compared to the previous year. In 2021, the top ten rooftop solar installers accounted for 43% of the rooftop solar market share. Tata Power Solar led the list of rooftop solar installers, accounting for 20% of the total installations.
Open Access Solar
In 2021, open access solar installations saw growth of 222% compared to the previous year, making it the second-best year on record. Fourth Partner Energy was the top open access installer during the year.
Solar imports in 2021 saw a massive 641% increase compared to the last year. LONGi Solar was the leading module supplier to India for the second consecutive year. Only one Indian module manufacturer made it to the top five.
The prices of Chinese modules have increased for seven sequential quarters, a trend that has never been seen in the past ten years. Module prices had only seen an upward trend in just two quarters before the pandemic in the past five years.
Solar Inverter Suppliers
In 2021, the share of string inverters in solar installations overtook that of central inverters in India. Sungrow was the top solar inverter supplier in 2021 and the top string inverter supplier. Sineng Electric led the list of central inverter suppliers.
The Ministry of New and Renewable Energy (MNRE) recently issued a fresh notification extending the self-certification of solar photovoltaic inverters under the Bureau of Indian Standards from December 31, 2021, to June 30, 2022. The extension was granted as the industry had sought more time for compliance, considering the issues relating to testing and the level of preparation of test labs.
Mounting Structure Suppliers and Solar Tracker Suppliers
SNS Corporation led the list of top solar mounting structure suppliers for the second consecutive year, accounting for 30% of the total market share.
Arctech was the top supplier of solar trackers during the year.
Mounting structures’ manufacturers for solar modules faced a severe shortage in a critical raw material – steel.
Over time, robotic cleaning systems have seen a rising demand across the country, with more emphasis on water conservation in energy generation. Sol-Bright Photovoltaic Technology was the top supplier of solar robotic cleaning systems to the Indian market in 2021.
Get the complete list of market leaders with installation and supply data in the full report here.