Despite regulatory shifts in Maharashtra, solar projects in the state remain financially attractive, with industry experts noting payback periods of 3 to 4 years and returns that significantly outperform traditional investments.

Among various solar deployment models, rooftop solar projects typically require lower capital expenditure and can deliver attractive economics for commercial and industrial (C&I) consumers with unused rooftop space.

These projects also eliminate the need for land acquisition, and for consumers opting for solar in Maharashtra, the state also offers a stable net-metering policy.

Bhavya Master, Sales Lead (India) and Global Head of Marketing at Candi Solar, said that C&I consumers should begin their solar journey by closely reviewing their electricity bills.

According to her, understanding the load profile, their overall consumption patterns, and the share of power that can be displaced by solar is vital for consumers shifting to solar.

Businesses can choose between rooftop and open-access solar projects based on available roof space and operational constraints.

With recent regulatory amendments, Maharashtra allows interoperability between battery energy storage systems (BESS), rooftop solar projects, and open-access solar projects.

Why Do Rooftop Solar Costs Vary?

Experts say that consumers evaluating rooftop solar projects should note that a typical system comprises nearly 300 components. As a result, project costs can vary widely across vendors.

The price variations arise from equipment quality, safety infrastructure, mounting structures, and performance guarantees.

Businesses should look beyond upfront costs while opting to go solar. Rather than focusing only on initial capital expenditure, installers suggest that consumers should evaluate lifetime energy generation, performance guarantees, safety standards, serviceability, and long-term operation and maintenance commitments.

Savings Drive Adoption

Cost savings remain one of the strongest drivers influencing the choice between rooftop and open-access solar projects.

Rounak Muthiyan, Founder and Director at Kalpa Power, notes that sustainability considerations are increasingly shaping adoption decisions. “Companies are not only driven by savings but also by the need to reduce their carbon footprint and create more sustainable workplaces,” he said.

Last year, solar developers expressed concerns that Maharashtra Electricity Regulatory Commission’s proposed energy banking restrictions could slow capacity additions among prosumers.

However, Muthiyan noted that solar projects remain viable even under constrained banking conditions.

“Even without full banking benefits for around 14% of operating days, solar projects can still achieve paybacks of under three years, with internal rates of return (IRR) exceeding 25%-26%,” he said.

Financing Options

Businesses adopting rooftop or open access solar projects can choose between capital expenditure (CAPEX) and operational expenditure (OPEX) models.

Under Candi Solar’s OPEX model, Master explained, customers pay a fixed tariff through a power purchase agreement with 90% generation guaranteed. The company also offers hybrid models that combine OPEX financing with CAPEX benefits, enabling consumers to access tax incentives while avoiding upfront investment.

Master said that under the hybrid model, the solar system remains on the consumer’s balance sheet, allowing them to avail of the benefits of the CAPEX model, such as GST input and accelerated depreciation.

She elaborated that under this model, C&I consumers can pay a tariff for the solar power they procure and finance their projects, with the levelized cost of electricity lower than that under traditional PPAs.

Solar Plus Storage Gains Traction

Experts say businesses are increasingly integrating BESS with solar projects.

Muthiyan said that solar-plus-storage solutions are addressing multiple operational challenges, including backup power, peak shaving, demand charge management, and power stability.

He added that for commercial consumers, solar-plus-storage projects can deliver paybacks as low as two years, while industrial users typically see paybacks of under four years.

The insights were shared at the recent C&I Clean Energy Event held in Nashik.

For C&I consumers exploring clean energy adoption, Mercom is hosting an inter-city series of C&I Clean Energy Events. The next event will be held in Coimbatore on February 5, 2026.