MERCOM INDIA ROOFTOP SOLAR MARKET REPORT Q1 2022 – 456 MW INSTALLED IN Q1 2022

India added 456 megawatts (MW) of rooftop solar in Q1 2022, a 13% increase compared to the 402 MW installed in Q4 2021. In a year-over-year (YoY) comparison, installations were up by 34%, according to Mercom India Research’s newly released “Mercom India Rooftop Solar Market Report Q1 2022 .”

According to the report, at the end of Q1 2022, cumulative rooftop solar installations reached over 7.6 GW.

“It was another great quarter for the rooftop solar market as post-covid installations continued to surge. Rooftop installations have topped 400 MW for four quarters in a row, which is a first. Commercial and Industrial segments were again the driving force accounting for most of the installations. However, future growth is dependent on system costs. If the prices continue to go up and project economics deteriorate, demand is bound to contract in the short term,” said Raj Prabhu, CEO of Mercom Capital Group.

Gujarat was the top state for cumulative solar rooftop installations, with about 1.8 GW. Maharashtra and Rajasthan rank second and third, contributing 12% and 10% of total rooftop installations by the end of Q1 2022.

Key Highlights from Mercom India Research’s India Rooftop Solar Market Report Q1 2022

• In Q1 2022, India added over 456 MW of rooftop solar capacity, the second-most in any quarter.
• Cumulative rooftop solar installations reached 7.6 GW as of Q1 2022.
• The top 10 states accounted for nearly 73% of rooftop solar capacity cumulatively.
• In Q1 2022, 47% of rooftop solar installations came from the industrial segment, followed by 29%, 22%, and 2% in commercial, residential, and government segments.
• Gujarat was the top state for cumulative rooftop solar installations, followed by Maharashtra and Rajasthan.
• Year-over-year, rooftop solar system costs have increased 17%.

Contact Mercom for pricing: reports@mercomindia.com or call us at +91-080-41211148