MERCOM INDIA ROOFTOP SOLAR MARKET REPORT Q1 2023 – 485 MW INSTALLED IN Q1 2023

In the first quarter (Q1) of calendar year (CY) 2023, 485 MW of rooftop solar capacity was added, up marginally 0.4% compared to 483 MW in Q4 2022. Year-over-year (YoY), installations were up 6.4%, according to the newly released report “Q1 2023 Mercom India Rooftop Solar Market Report”.

Nearly 58% of capacity was added by residential consumers in Q1 2023, while industrial and commercial consumers accounted for 28% and 14%, respectively.

In Q1 2023, rooftop solar accounted for 26% of total solar installations.

Installations in Q1 2023 were primarily driven by the commissioning of delayed projects that applied for approvals before October 2022. The projects were granted exemption from the Approved List of Models and Manufactures (ALMM) order in the Ministry of New and Renewable Energy’s (MNRE’s) clarification issued in October 2022.

Gujarat, Kerala, and Karnataka added the most rooftop solar capacity in Q1 2023, contributing to almost 70% of capacity additions.

Gujarat remained the leading state for rooftop solar, accounting for 24% of cumulative installations as of March 2023, followed by Maharashtra and Rajasthan. The top 10 states accounted for 75% of cumulative rooftop solar installations as of March 2023.

Comprehensive details of net metering policies across all Indian states and Union Territories are also included in the report.

Key Highlights from Mercom India Research’s Q1 2023 India Rooftop Solar Market Report

• In Q1 2023, India added over 485 MW of rooftop solar capacity, the second-highest in any quarter
• 58% of rooftop solar installations during the quarter came from the residential segment, followed by 14%, and 28% from the commercial and industrial segment
• Cumulative rooftop solar installations reached 9.3 GW as of March 2023
• The top 10 states cumulatively accounted for 75% of rooftop solar capacity
• Gujarat was the leading state for cumulative rooftop solar installations, followed by Maharashtra and Rajasthan
• Rooftop solar system costs were 6% lower than the previous quarter

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