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92.5% of New Power Capacity Additions Globally in 2024 was Renewables: Report

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					</table>The Haryana Electricity Regulatory Commission <a href="https://www.mercomindia.com/haryana-amends-green-energy-open-access-regulations" target="_blank" rel="noopener">issued</a> amendments to the Green Energy Open Access Regulations which were released in 2023. The amendments were finalized after a recent public hearing. One key amendment introduced is regarding the eligibility criteria for open access. Initially, only consumers with contracted 100 kW or more capacity were eligible. The Commission has now clarified that consumers with contracted demand of 100 kW and above, either through a single connection or multiple connections aggregating to 100 kW or more located in the same electricity operation division of a distribution licensee, will be eligible for Green Energy Open Access.
India has <a href="https://www.mercomindia.com/lack-of-standards-for-bos-components-threatens-rooftop-solar-growth-interview" target="_blank" rel="noopener">seen</a> a spurt in solar installations in recent years. The introduction of PM Surya Ghar: Muft Bijli Yojana in 2024 has boosted rooftop solar installations in the residential sector. However, the absence of standards for module mounting structures in India has emerged as a significant challenge. Harshal Akhouri, co-founder and CEO of Strolar, a manufacturer of solar trackers and mounting structures, shares his thoughts about issues relating to the Balance of Systems (BoS) used in solar projects.
The Oil and Natural Gas Corporation (ONGC) <a href="https://www.mercomindia.com/ongc-issues-epc-tender-for-2-mw-solar-project-in-navi-mumbai" target="_blank" rel="noopener">floated</a> a tender for the engineering, procurement and construction of a 2.01 MW solar project to be implemented across 35 locations in ONGC Uran thermal project in Navi Mumbai, Maharashtra. The last date to submit bids is March 18, 2025. Bids will be opened on March 19. The project must be completed within 240 days.
SJVN <a href="https://www.mercomindia.com/sjvn-floats-tender-for-1-6-mw-rooftop-solar-systems-in-arunachal-pradesh" target="_blank" rel="noopener">invited</a> bids to install 1.604 MW grid-connected rooftop solar systems on government buildings in Arunachal Pradesh under the PM Surya Ghar: Muft Bijli Yojana. Bids must be submitted by March 21, 2025. Bids will be opened on the same day. The scope of work includes the design, supply, installation, testing, commissioning, and comprehensive operation and maintenance of the rooftop solar systems.
NTPC Renewable Energy <a href="https://www.mercomindia.com/ntpc-rel-invited-bids-for-bos-package-for-900-mw-wind-energy" target="_blank" rel="noopener">invited</a> bids for a BoS package for interstate transmission-connected 900 MW wind energy project at Anantapur in Andhra Pradesh. The last day to submit the bids is April 3, 2025. Bids open on the same day. The bidders’ scope of work includes the design, engineering, micro-siting, manufacturing, supply, erection, testing, commissioning, and demonstrating the guaranteed performance parameters for installing the wind project.
Vidyut, an electric vehicle (EV) ecosystem platform, <a href="https://www.mercomindia.com/ev-company-vidyut-raises-2-5-million-from-flourish-ventures" target="_blank" rel="noopener">raised</a> $2.5 million in funding from global investor Flourish Ventures. The company will utilize the acquired funds to expand its Battery-as-a-Service offering in passenger and commercial EV segments. By unbundling batteries from EVs and offering them on a pay-per-km subscription basis, Vidyut claimed it had reduced upfront electric three-wheeler costs by 35-40%.
Adani Green Energy <a href="https://www.mercomindia.com/agel-refinances-1-06-billion-loan-for-wind-solar-projects-in-rajasthan" target="_blank" rel="noopener">completed</a> a long-term refinancing of $1.06 billion (~₹92.56 billion) for developing wind-solar projects in Rajasthan. The company’s maiden construction facility entails a door-to-door tenor of 19 years with a fully amortized debt structure aligned with the cash flow lifecycle. The refinancing aims to provide benefits through deep access to diverse pools of capital to secure large sums for a long duration.
Speciality chemicals manufacturer Chemplast Sanmar and its subsidiary Chemplast Cuddalore Vinyls will <a href="https://www.mercomindia.com/chemplast-to-procure-84-9-mw-wind-solar-hybrid-power-from-jsw" target="_blank" rel="noopener">procure</a> power from JSW Green Energy Nine’s 84.9 MW wind-solar captive power project in Tamil Nadu under a power purchase agreement. Chemplast and its subsidiary will acquire a 26.27% stake in JSW Neo Energy for ₹304.3 million (~$3.4 million) in two tranches.
Chinese solar module manufacturer LONGi <a href="https://www.mercomindia.com/longi-sues-jinko-solar-in-us-over-topcon-patent-infringement" target="_blank" rel="noopener">filed</a> a patent infringement lawsuit against Jinko Solar and its subsidiaries in the U.S. District Court for the Eastern District of Texas. The lawsuit alleges that Jinko Solar’s tunnel oxide passivated contact (TOPCon) and multiple other photovoltaic module products infringe LONGi’s U.S. patents.
U.S.-based solar energy, battery, and storage services provider Sunrun <a href="https://www.mercomindia.com/sunrun-misses-q4-2024-revenue-estimates-beats-earnings-expectations" target="_blank" rel="noopener">reported</a> a revenue of $518.49 million in the fourth quarter (Q4) of 2024, a mostly flat growth compared to $516.59 million in the corresponding quarter last year. The revenue also fell short of analysts’ expectations by $22.56 million. The company’s 21% year-over-year (YoY) increase in customer agreements revenue was offset by a 33% YoY decline in solar energy systems and product sales.
Fuel cell and electrolyzer manufacturer Bloom Energy <a href="https://www.mercomindia.com/data-centers-business-fuels-bloom-energys-revenue-growth-in-q4-2024" target="_blank" rel="noopener">reported</a> revenue of $572.4 million for Q4 2024, a 60% YoY increase from $356.9 million. The revenue exceeded analysts’ expectations by $64.85 million. The company’s earnings per share came in at $0.43, beating analysts’ expectations by $0.12. Its adjusted earnings before interest, taxes, depreciation, and amortization was $147.32 million, a 270% YoY increase from $39.76 million.
U.S.-based solar module manufacturer First Solar <a href="https://www.mercomindia.com/first-solar-alleges-topcon-module-patent-infringement-by-jinkosolar" target="_blank" rel="noopener">filed</a> a lawsuit against Shanghai-headquartered JinkoSolar, alleging patent infringement of its TOPCon modules. The lawsuit was filed in the U.S. District Court for the District of Delaware. First Solar alleged infringement of its U.S. patent number 074, which covers methods of manufacturing TOPCon crystalline silicon solar cells.
Shoals Technologies Group, a manufacturer of electrical balance of systems for solar, energy storage, and e-mobility <a href="https://www.mercomindia.com/shoals-revenue-falls-18-amid-delayed-projects-and-political-shifts" target="_blank" rel="noopener">reported</a> a net income of $7.8 million during Q4 2024, down from $16.6 million in the corresponding period in 2023. Revenue experienced an 18% YoY decrease, from $130.4 million to $107 million. The decrease in the net income and revenue was primarily due to a rapidly shifting political environment, challenges in labor and equipment availability, and regulatory and permit delays during the quarter.
After six consecutive years of growth, China’s solar installations are <a href="https://www.mercomindia.com/chinas-solar-growth-to-dip-in-2025-post-market-aligned-pricing-reforms" target="_blank" rel="noopener">expected</a> to drop by up to 22% in 2025 with the introduction of market-based pricing reforms. According to the China Photovoltaic Industry Association, solar installations will likely decline in 2025 to between 215 GW and 255 GW or 8.13% and 22.54% from 277 GW in 2024. China installed 277.17 GW of solar capacity in 2024, up 27.79% from 2023.

Daily News Wrap-Up: Haryana Amends Green Energy Open Access Regulations

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					</table>India has seen a spurt in solar installations in recent years. The introduction of PM Surya Ghar: Muft Bijli Yojana in 2024 has boosted rooftop solar installations in the residential sector. However, the absence of standards for module mounting structures in India has emerged as a significant challenge.
Harshal Akhouri, co-founder and CEO of Strolar, a manufacturer of solar trackers and mounting structures, shares his thoughts about issues relating to the Balance of Systems (BoS) used in solar projects. According to Akhouri, an ALMM-type mandate and targeted financial incentives could create a robust BoS ecosystem in India.
Tell us about Strolar and some of your key products and solutions.
Strolar offers a comprehensive range of mounting solutions that cater to diverse market segments. Established in 2015, Strolar has supplied over 12 GW of mounting systems worldwide.
Strolar&#8217;s product portfolio encompasses ground mounts, single-axis trackers, rooftop systems, carports, agrivoltaics, and floating photovoltaic mounting solutions. This extensive range addresses the unique requirements of commercial, industrial, and utility-scale projects. We are introducing a patent-pending technology for the residential solar market, with a launch anticipated in the upcoming quarter.
In the first half of 2024, Strolar <a href="https://www.mercomindia.com/whos-leading-the-solar-module-mounting-market-in-h1-2024" target="_blank" rel="noopener">secured</a> a 14.9% share of solar module mounting structure shipments in India, ranking third among its peers.
With India&#8217;s renewable energy sector growing rapidly, how do you see the balance of system (BoS) market evolving, particularly considering government programs like PM Surya Ghar: Muft Bijli Yojana and PM KUSUM?
The residential solar market has picked up speed. Kudos to the government&#8217;s vision and the agencies involved in making this a fast-track implementation. No one expected 1 GW deployment in residential solar with a 1,000% increase from its previous quarter. This, however, has necessitated the creation of a robust supply chain, especially in BoS.
Manufacturers must scale production to meet surging demand or risk slowing installations. In the short term, price-driven procurement will dominate, but the long game will see seller marketplaces flourish, ensuring stock availability for faster deployments. While innovation in BoS remains limited, early movers stand to gain a competitive edge.
New entrants will inject competition into the C&amp;I and utility segments, keeping pricing in check. The major challenge for faster implementation will be the lack of BoS items for which manufacturers must step up their capacity. The innovation curve will still be rare in the BoS space, but early mover advantages will remain. Exciting times in India to be a buyer unless you are a DCR module seller.
What are the different types of mounting structures available, and what are their key features?
The generic mounting systems include ground mounts, single axle trackers, rooftops, carports, agrivoltaics, and floating photovoltaic (FPV).
Ground-mount systems dominate utility-scale projects, offering fixed-tilt and tracker options. Trackers boost yield by up to 20%-25% by following the sun. Rooftop mount systems cater to residential and commercial spaces, optimizing space efficiency. Carports double as shade structures, integrating solar into urban landscapes. Agrivoltaic systems merge solar with farming, enhancing land use and crop protection. Floating PV on reservoirs and lakes reduces evaporation while generating clean energy.
With land constraints and efficiency demands rising, hybrid and adaptive mounting solutions are gaining traction. Future trends point toward AI-driven trackers and modular designs, ensuring solar installations remain cost-effective and high-performing. The right choice isn&#8217;t just about structure; it&#8217;s about long-term viability.
Trackers can enhance solar energy generation by up to 20%. How do you see their adoption in utility-scale projects and other segments?
Trackers were the talk of the town nearly two years ago, but with the module prices declining, it&#8217;s a sluggish pace. The reason? Economics.
With solar module prices steadily declining, the math favors fixed-tilt structures in utility-scale projects. Indian developers, known for their sharp financial acumen, prioritize return on investment (ROI) over marginal efficiency gains. Fixed-tilt systems are cheaper, simpler, and deliver predictable returns, key factors in large-scale project viability.
However, smaller developers, constrained by limited land, are showing increasing interest in trackers to maximize output. This signals a shift. As land costs rise and efficiency becomes a bigger driver, tracker adoption could increase. The tipping point? A rise in module prices or further cost reductions in tracker technology.
For now, the utility-scale segment remains cautious. But when the economics align, expect a surge in tracker installations. The market is watching, and adoption will follow when the numbers make sense.
Unlike solar modules and cells, some BoS components, such as mounting structures, lack a standardized quality framework. How could this impact large-scale residential rooftop solar programs like PM Surya Ghar?
India&#8217;s PM Surya Ghar program is designed to boost the adoption of residential solar energy, but it faces a significant challenge: the lack of a standardized quality framework for mounting structures.
Unlike solar modules and inverters, which adhere to global standards, these mounting structures are often custom-made, leading to inefficiencies in the supply chain and potential long-term risks. Each structure is tailored for specific locations, meaning that delays in procurement can disrupt project timelines. Implementing a standardized system would improve inventory management and allow for easier redeployment when site-specific issues arise, resulting in quicker installations and enhanced power production.
A more pressing issue is the structural integrity of these installations. Many homes in India do not have architectural blueprints, raising concerns about whether rooftops can sustain solar systems for 25 years. In the absence of clear technical guidelines, there are risks of structural failures, safety hazards, and warranty disputes.
This will certainly increase the cost of mounting systems by about 55%, according to estimates.
The risk is particularly acute in Tier 2 and 3 cities, where construction practices vary widely and unregulated solar BoS suppliers fulfill the PM Surya Ghar implementation. Without standardized mounting systems or regulatory oversight, thousands of rooftops could face integrity issues after installation.
Establishing a regulatory framework could set essential standards for load-bearing evaluations, material longevity, and resistance to weather conditions, helping to address these issues. Countries like Germany and the U.S. have implemented such standards to ensure safe installations and bolster investor confidence. India must adopt similar measures to avoid potential failures and inefficiencies in its rooftop solar initiative.
Standardizing mounting structures goes beyond just improving efficiency; it is crucial for securing India&#8217;s clean energy future. A robust regulatory framework will facilitate faster deployment, minimize risks, and enhance the long-term sustainability of the PM Surya Ghar program.
Given the absence of specific regulations and standards for certain BoS components, how are manufacturers navigating these challenges? What recommendations do you have for the government in this regard?
In India&#8217;s ambitious push toward renewable energy, a significant vulnerability threatens the PM Surya Ghar initiative – the lack of standardized quality frameworks for mounting structures in the Balance of System components. Unlike solar modules, inverters and cables, mounting systems remain unstandardized, creating a concerning blind spot in residential solar deployment.
The implications are profound. While commercial and utility-scale solar installations benefit from data-driven engineering decisions, residential projects are built by &#8220;mistris&#8221; (partially-skilled craftsmen) rather than professional engineers. These structures were never designed with the additional load of solar systems in mind.
A dedicated regulatory body is needed to establish technical parameters for residential mounting systems. Standardization would ensure structural safety and introduce flexibility, allowing components to be redeployed to alternative sites when challenges arise.
While not a &#8220;doomsday scenario,&#8221; failing to standardize mounting structures could undermine public confidence and safety in what should be India&#8217;s residential solar revolution.
Programs like the Production Linked Incentive program have supported solar cell, module, and battery manufacturing. What policy measures would you suggest to promote the growth of component manufacturing for mounting structures, trackers, cables, and junction boxes? 

A key challenge is the lack of awareness among component manufacturers about PLI benefits. A targeted outreach campaign via industry associations, digital platforms, and state-level initiatives can bridge this gap, ensuring these firms capitalize on available incentives.
Additionally, extending financial support under PLI or introducing a parallel scheme for BoS components could accelerate investments. Tax breaks, low-interest loans, and direct subsidies on raw materials like galvanized steel or Hot Rolled Steel would lower costs, making Indian products more competitive globally.
Infrastructure improvements are equally critical. Dedicated industrial zones near the major solar producing states with streamlined regulatory approvals and access to logistics hubs can attract manufacturers. Incentivizing R&amp;D, especially for lightweight and high-durability materials, will drive innovation and cost efficiency.
Policy alignment with global trade norms is another priority. Anti-dumping duties on imports and stronger quality certification frameworks will safeguard domestic players, ensuring industry sustainability.
Government projects mandate domestically manufactured solar modules under DCR requirements. Would an ALMM-type mandate help accelerate the growth of the BoS segment?
BoS, which includes inverters, mounting structures, cables, junction boxes and other critical components, accounts for 40–50% of total project costs. While module manufacturing has received policy support through Basic Customs Duty PLI, BoS manufacturers still face stiff competition from imports, particularly from China. A considerable quantity of steel was imported into India, which led to the creation of mounting systems supplies in 2024, raising concerns about supply chain security and long-term industry viability.
An ALMM-like mandate for BoS could have a threefold impact. First, it would drive localization, ensuring higher domestic value addition and reducing reliance on imports. Second, a stringent certification framework would enhance quality standards, addressing concerns about subpar components. Third, it would create a level playing field for Indian manufacturers, aligning with India&#8217;s goal of achieving 280 GW of solar capacity by 2030.
However, challenges remain. The industry must scale production capacity and improve cost competitiveness before enforcing a rigid mandate. Lessons from ALMM&#8217;s temporary suspension suggest that abrupt policies can disrupt project pipelines. A phased approach starting with anti-dumping duties, quality benchmarks, and targeted incentives could balance protectionism and market growth.
The way forward? A structured policy for BoS components, combining certification mandates with financial incentives, can fortify domestic supply chains while maintaining competitive pricing. With solar expansion crucial to India&#8217;s energy transition, ensuring a robust BoS ecosystem is not just necessary but an opportunity!

Lack of Standards for BoS Components Threatens Rooftop Solar Growth: Interview

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					</table><a href="https://www.goodluckindia.com/" target="_blank" rel="noopener">Goodluck India</a>, <a href="https://www.arctechsolar.us/" target="_blank" rel="noopener">Arctech</a>, and <a href="https://gamechangesolar.com/" target="_blank" rel="noopener">GameChange Solar</a> were the top three module mounting structure suppliers to the Indian solar market in the calendar year (CY) 2023.
<a href="https://raydeanindustries.com/">Raydean Industries</a> and <a href="https://strolar.com/">Strolar Mounting Systems</a> rounded off the top five, according to Mercom’s recently released report, <a href="https://www.mercomindia.com/product/mercoms-india-solar-market-leaderboard-2024-market-shares-and-profiles" target="_blank" rel="noopener">India Solar Market Leaderboard 2024</a>.
The top five companies shipped 67% of the mounting structures used in the country’s solar projects during the year.
<a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Mounting-structure-leaderboard-2023.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-66264 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Mounting-structure-leaderboard-2023.png" alt="Mounting structure leaderboard 2023" width="793" height="417" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Mounting-structure-leaderboard-2023.png 793w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Mounting-structure-leaderboard-2023-300x158.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Mounting-structure-leaderboard-2023-768x404.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Mounting-structure-leaderboard-2023-650x342.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Mounting-structure-leaderboard-2023-624x328.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Mounting-structure-leaderboard-2023-600x316.png 600w" sizes="(max-width: 793px) 100vw, 793px" /></a>
Mounting structures in a ground-mounted or rooftop solar project helps maintain the optimum generation and endure the weight of solar modules and strong wind speeds.
The conditions in India demand mounting structures that withstand the seasonality and rough conditions in the areas where solar power projects are deployed.
Goodluck India ranked first, accounting for 17% of the total module mounting structures shipped in 2023.
Goodluck India supplies module mounting structures to grid-connected solar projects and solar carports. According to its nine-month financial year 2023-24 results, the company had a production capacity of 4,12,000 metric tons per annum across six manufacturing facilities and five in-house hot dip galvanizing plants in India.
Arctech ranked second, accounting for 14% of the module mounting structures supplied in 2023. It has a combined production capacity of 13 GW, including a 3 GW manufacturing facility in Mundra, Gujarat.
GameChange Solar entered the top ten list in 2023 in the third position, accounting for 13% of solar module mounting structures supplied during the year. The company had an annual production capacity of 55 GW for key systems.
Mercom’s India Solar Market Leaderboard report covers the market landscape across the entire supply chain. For the detailed and comprehensive report, <a href="https://www.mercomindia.com/product/mercoms-india-solar-market-leaderboard-2024-market-shares-and-profiles" target="_blank" rel="noopener">click here</a>.
The <a href="https://www.mercomindia.com/product/mercoms-india-solar-market-share-tracker" target="_blank" rel="noopener">Market Share Tracker</a>, which gives data insights into your competitors and their growth rates every quarter, is now available.

Goodluck, Arctech, GameChange Solar: Top Module Mounting Firms in 2023

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					</table><a href="http://www.purshotamgroup.com/" target="_blank" rel="noopener">Purshotam Profiles</a>, <a href="https://www.goodluckindia.com/" target="_blank" rel="noopener">Goodluck India</a>, and <a href="https://www.strolar.com/" target="_blank" rel="noopener">Strolar </a>were the top three module mounting structure suppliers to the Indian solar market in the calendar year (CY) 2022. <a href="https://raydeanindustries.com/" target="_blank" rel="noopener">Raydean</a> and <a href="http://www.metalkraft.in/" target="_blank" rel="noopener">Metalkrafft Forming Industries </a>rounded off the top five, according to Mercom’s recently released report, <a href="https://www.mercomindia.com/product/mercoms-india-solar-market-leaderboard-2023-market-shares-and-profiles" target="_blank" rel="noopener">India Solar Market Leaderboard 2023</a>.
The report offers valuable information on the market shares of prominent companies in the industry and presents a comprehensive analysis of their performance.
Together these five companies accounted for 88% of the market demand, while the others accounted for the remaining 12% in an increasingly consolidated market dominated by a few large companies.
As India moves aggressively to achieve its target of 280 GW of solar installations by 2030, module mounting structures play a crucial role throughout these projects&#8217; lifetime, whether installed on the ground or on rooftops.
These structures bear the weight of solar modules, providing support and stability. They are designed to endure harsh weather conditions and strong winds, ensuring the projects&#8217; long-term durability and optimal performance.
<img loading="lazy" decoding="async" class="aligncenter wp-image-54643 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/05/Screenshot-2023-05-30-103742.png" alt="" width="755" height="438" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/05/Screenshot-2023-05-30-103742.png 755w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/05/Screenshot-2023-05-30-103742-300x174.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/05/Screenshot-2023-05-30-103742-650x377.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/05/Screenshot-2023-05-30-103742-624x362.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/05/Screenshot-2023-05-30-103742-600x348.png 600w" sizes="(max-width: 755px) 100vw, 755px" />
Purshotam Profiles ranked first with 38% of the total module mounting structure supply during 2022. The company’s shipments increased significantly by 38% year-over-year.
Purshotam has a production capacity of 25,000 metric tons per month. The company has established an extensive distribution network of factories in Ahmedabad, Ghaziabad, Noida, Jodhpur, and Hyderabad to cater to both domestic and international demands.
The company’s product range includes various types of C-Sections (such as columns, rafters, and bracings) and Hat-Sections like Purlin. The materials used comprise pre-galvanized, hot dip galvanized, HR, and PosMac.
Goodluck India came in second with 26% of the total module mounting structures that were supplied during 2022. The company’s shipments saw an increase of 31.3% year-on-year.
Goodluck specializes in grid-connected solar parks and solar power plants. Their offerings encompass the supply, civil work, and installation of these structures. The company has developed its own cost-effective and user-friendly designs for panel support structures.
Strolar bagged the third position and accounted for 10.6% of the total solar module mounting structures that were supplied during 2022.
Its product range includes both roof and ground mounting solutions, catering to a wide range of projects.
Raydean Industries made remarkable progress in its ranking, rising from the eighth position in 2021 to the fourth position accounting for 7.1% of the total supply. The company&#8217;s shipments of module mounting structures experienced an impressive year-on-year growth of 236.5%.
The company manufactures customized structures for solar projects, rooftop solar, solar water pumping systems (fixed &amp; dual axis manual tracking), solar water tanks, and solar carports.
Metalkraft Forming Industries emerged as one of the new entrants in the top ten suppliers of mounting structures.
The company emerged in the fifth position, accounting for 6.1% of the total solar module mounting structures supplied during 2022. The company is a cold-roll-forming company located in Hyderabad. It was founded in 2002 and operates from a manufacturing facility spanning 125,000 square feet near Hyderabad.
The company has a monthly manufacturing capacity of 4,500 metric tons.
The report covers the market landscape across the entire supply chain. For the detailed and comprehensive report, click <a href="https://www.mercomindia.com/product/mercoms-india-solar-market-leaderboard-2023-market-shares-and-profiles" target="_blank" rel="noopener">here</a>.
Also, the <a href="https://www.mercomindia.com/product/mercoms-india-solar-market-share-tracker" target="_blank" rel="noopener">Market Share Tracker</a>, which gives data insights into your competitors and their growth rates every quarter, is now available.

Purshotam Profiles, Goodluck, Strolar Top Solar Module Mounting Structure Suppliers in 2022

Manufacturers of mounting structures for solar modules have been facing a severe shortage in a critical raw material – steel. The price volatility of this essential metal and the disruption in supply have created a challenge for the manufacturers to supply the mounting structures to solar projects within the scheduled timeline.
The global steel prices surged in the first four months of 2021. But, steel producers struggled to supply as the production was low due to a shortage of iron ore, the raw material used to produce steel.
Mercom spoke to several mounting structure manufacturers to understand their challenges in procuring the raw material, balancing demand with supply, and meeting deadlines.
Procurement of raw material
According to the data released by the Ministry of Steel, in April 2021, the export of steel increased by 121.6%, and imports declined by 10.7%.
In the first quarter (Q1) of the financial year (FY) 2021-22, the export of steel increased 43.9% compared to Q4 FY 2020-21, and the import declined by 4.5% during the same period.
Harshal Akhouri, Chief Executive Officer at <a href="https://www.strolar.com/contacts.html" target="_blank" rel="noopener">Strolar</a>, said, &#8220;Due to the uncertainty in the market, the steel manufacturers have been offering rates with weekly validity to the mounting structure suppliers. .&#8221;
Mounting structure manufacturers take six to eight weeks to supply structures against an order. The price is decided with solar developers at the time of placing the order. However, steel manufacturers offer the price rate to mounting structure manufacturers weekly. Since structure manufacturers procure steel in tranches, they have faced losses due to the volatile steel prices.
&#8220;In addition, the solar project work order does not come with a price escalation clause from the developer. With no backing on price validity from the steel manufacturers, the mounting structure suppliers find it difficult to manage uncertainties in prices to procure steel,&#8221; Akhouri added.
Samir Agarwal, Sales Officer, <a href="https://manstructurals.com/" target="_blank" rel="noopener">Man Structurals</a>, said the government focused on exporting steel to maintain the gross domestic product (GDP) and raise funds that created a shortage of steel in the domestic market. In addition, fluctuation in the supply of steel and transport delays disrupted supply. We also have to bear losses in some projects due to the hurdles in procuring raw materials.
However, a senior executive of a steel manufacturing company said these issues faced by mounting structure manufacturers are things of the past. Currently, there is enough steel production to meet the demand. However, there was a shortage in steel supply until last month due to a scarcity of iron ore to produce steel.
Animesh Damani, Managing Partner, <a href="https://artha.energy/" target="_blank" rel="noopener">Artha Energy Resources</a>, said, “The price of mounting structures increased by 25% to 28% in between March and June 2021 as the price of base metal (steel) had risen during the same period. Therefore, the cost of solar projects increased by around 2%, and developers have been forced to reduce their profit margin. However, we did not face any delay in the procurement of mounting structure that forced us to delay any projects beyond scheduled commissioning date or leading to  losses.”
Echoing similar thoughts, a senior executive of a multinational renewable energy company said commodities are at an all-time high, and steel prices increased to around ₹96 (~$1.29)/kilogram from ₹56 (~$0.76)/kilogram. Consequently, the cost of mounting structures and solar projects increased. There were issues in the procurement of mounting structures due to lockdown and unavailability of labor. However, solar developers did not miss the scheduled commissioning date because the government has provided adequate timeline extension to complete projects.
Domestic demand for mounting structures 
Despite the Covid-19 and volatility in the global steel prices, the demand for mounting structures is high as the construction of solar projects continued post lockdown. 
According to Mercom India Research&#8217;s <a href="https://mercomindia.com/product/q1-2021-india-solar-market-update/" target="_blank" rel="noopener">Q1 2021 India Solar Market Update</a>, India added 2,056 MW of solar capacity in the first quarter of 2021, a 37% increase quarter-over-quarter, compared to 1,505 MW installed in the fourth quarter of 2020.
Akhouri said, &#8220;The demand for mounting structures is high despite radical changes in the global steel prices. However, the apprehensions regarding the prices have left a dent in the minds of the mounting systems&#8217; suppliers, but this will slowly heal as we move towards a new normal.&#8221;
However, Agarwal disagreed with this thought and said the demand is relatively low due to the pandemic. And higher prices of steel and zinc increased the price of raw materials by approximately 20-25%, leading to a fall in the overall demand for mounting structures.
A senior executive of a steel manufacturing company said, &#8220;The steel demand is higher from mounting structure manufacturers as several solar projects are being constructed simultaneously. In addition, the solar industry has aggressive installation targets due to which the steel demand will remain high.&#8221; 
Pricing challenges
The Indian solar market has always been price sensitive. Mounting structure manufacturers are adopting new strategies and business approaches to survive in these unusual times.
Akhouri said the uncertainty in the global steel market added to the woes of domestic mounting structure manufacturers and negatively impacted the financial health of solar project developers. With this, steelmakers also hiked booking amounts up to five times from the current amount. This has affected the availability of working capital for mounting structure manufacturers.
However, a senior executive of a steel manufacturing company said there are no specific challenges for steel companies. Until last month, there was a shortage of steel. However, the market has stabilized, and the industry is expected to come back to normalcy soon.
Mercom recently <a href="https://mercomindia.com/commodity-prices-continue-rising-solar/" target="_blank" rel="noopener">reported</a> the rising price trends in commodities, including steel, aluminum, and copper, taking a toll and increasing the burden of solar developers. With solar tariffs remaining low in the recent <a href="https://mercomindia.com/ntpc-solararise-win-rumsls-450-mw-shajapur-solar-auction-lowest-tariff-%e2%82%b92-33-kwh/" target="_blank" rel="noopener">auctions</a>, the pressure on component suppliers keeps building up.

Solar Mounting Structures and Projects Impacted by Steel Prices and Iron Ore Shortages

According to Mercom’s recently released <a href="https://mercomindia.com/product/mercom-india-solar-market-leaderboard-1h-2019/" target="_blank" rel="noopener noreferrer">India Solar Market Leaderboard 1H 2019</a>, in the first half of this year (1H 2019), Ganges Internationale, Purshotam Profiles, and Strolar emerged as the top three mounting structure suppliers in the Indian solar market.
Together, these three companies supplied over 50% of the market demand, while the top 10 suppliers commanded nearly 84% of the market share.
<a href="http://www.gangesintl.com/" target="_blank" rel="noopener noreferrer">Ganges Internationale</a> held the top spot, with over 17% of the market share. The Tamil Nadu-based company has a manufacturing facility of 1 GW with plans to expand it by another 400 MW. As of 2018, the company had installed over 4 GW of mounting structures across the world.
<a href="https://pilindia.org/" target="_blank" rel="noopener noreferrer">Purshotam Profiles</a> was second on the leaderboard, followed by <a href="https://www.strolar.com/" target="_blank" rel="noopener noreferrer">Strolar</a>, which was third in market share in the first half of 2019.
At the end of 1H 2019, there were six suppliers with cumulative shipments above 2 GW in the country.
<a href="https://mercomindia.com/wp-content/uploads/2019/12/Capture-2.png"><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-16807" src="https://mercomindia.com/wp-content/uploads/2019/12/Capture-2.png" alt="" width="469" height="353" srcset="https://cms.mercomindia.com/wp-content/uploads/2019/12/Capture-2.png 469w, https://cms.mercomindia.com/wp-content/uploads/2019/12/Capture-2-300x226.png 300w" sizes="(max-width: 469px) 100vw, 469px" /></a>
Module mounting structures are the backbone of a solar project. Good quality of mounting structures on a ground-mounted or rooftop solar project not only helps maintain the optimum generation; these structures need to withstand the weight of solar panels, high wind speeds, and varying temperatures.
Earlier, Mercom <a href="https://mercomindia.com/low-tariffs-developers-solar-mounting/" target="_blank" rel="noopener noreferrer">reported</a> that aggressive bidding had taken a toll on mounting structures as the quality is being sacrificed to cut costs, which could have a negative consequence on hundreds of solar projects that are supposed to last 25 years in any weather.
Earlier this year, an anti-dumping case was filed against module mounting structure components, including aluminum and zinc-coated flat products originating from China, South Korea, and Vietnam.
The National Solar Energy Federation of India (NSEFI) <a href="https://mercomindia.com/nsefi-mnre-anti-dumping-solar-mounting-structure/" target="_blank" rel="noopener noreferrer">recently</a> wrote to the Ministry of New and Renewable Energy (MNRE) expressing its concerns over the levy of anti-dumping duty on aluminum and zinc-coated flat products. According to NSEFI, approximately 49 GW of solar projects are under various stages of development, and in the next 18 months, they would require up to ~1,500,000 tons of aluminum and zinc-coated flat products.
Last year, Pennar Industries <a href="https://mercomindia.com/pennar-solar-mounting-supplier-2018-sns-ganges/" target="_blank" rel="noopener noreferrer">was</a> the top supplier of solar mounting structures in the country, both in cumulative terms and in 2018. SNS Corporation and Ganges Internationale were the second and third largest mounting suppliers.
<a href="https://mercomindia.com/product/mercom-india-solar-market-leaderboard-1h-2019/" target="_blank" rel="noopener noreferrer">Mercom’s India 1H 2019 Solar Market Leaderboard </a>report goes into a detailed breakdown of top developers and their growth profile.
A complete list of developers and their portfolio is available through <a href="https://mercomindia.com/product/mercoms-india-solar-market-share-tracker/" target="_blank" rel="noopener noreferrer">Mercom’s India Solar Market Share Tracker</a>.
Image credit: Petty Officer 1st Class Richard Doolin [<a href="https://upload.wikimedia.org/wikipedia/commons/d/d2/Defense.gov_photo_essay_100614-N-OX597-090.jpg" target="_blank" rel="noopener noreferrer">Public domain</a>]

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