Tata Power Solar, Roofsol and Havells Leading Rooftop Solar Installers in 1H 2024
The top five companies accounted for 46.9% of the market share in 1H 2024
November 14, 2024
Tata Power Solar, Roofsol Energy, Havells India, Kalpa Power, and Mahindra Solarize were the top rooftop solar installers in India during the first half of the calendar year (CY) 2024, according to Mercom’s recently released India Solar Market Leaderboard 1H 2024.
The report provides details on the market share and competitive landscape of leading players in India’s solar supply chain.
According to the Q2 2024 Mercom India Rooftop Solar Market Report, India added 1.1 GW of rooftop solar capacity in 1H 2024. The top 5 companies contributed to 46.9% of those installations.
Tata Power Solar remained the leading rooftop solar installer, accounting for 29.2% of the capacity additions. As of June 2024, the company had an installed rooftop solar capacity of 2.5 GW across residential, commercial, and industrial segments. It has tied up with 20+ financial institutions, supporting over 2,200 C&I consumers with customized financing solutions. During the first half of the year, Tata Power Solar partnered with the Indian Bank and Union Bank to provide financing solutions to residential consumers.
Roofsol Energy ranked second, accounting for 5.8% of the rooftop solar capacity additions in 1H 2024. The company’s cumulative installed rooftop solar capacity was 343 MW as of June 2024. It had over 300 projects and more than 200 clients in India until June 2024.
Havells India was the third leading rooftop solar installer. The company accounted for 5.2% of rooftop solar capacity additions in 1H 2024. As of June 2024, its cumulative installed rooftop solar capacity was 203 MW.
Kalpa Power and Mahindra Solarize ranked fourth and fifth, accounting for 3.4% and 3.3% of the total capacity in 1H 2024. The companies’ cumulative installed rooftop solar capacities were 144 MW and 289 MW, respectively, as of June 2024.
Mercom’s India Solar Market Leaderboard report covers the market landscape across the entire supply chain. For the detailed and comprehensive report, click here.
A complete list of the solar rooftop installers and their market share is available through Mercom’s India Solar Market Share Tracker