Tata Power Solar, Fourth Partner Energy, Amplus Solar, and Orb Energy were the top rooftop solar installers in India in the first half of the calendar year (CY) 2021, according to Mercom’s India Solar Market Leaderboard 1H 2021 Report.
The top three installers accounted for 23% of the total rooftop solar installations in 1H 2021.
The top ten installers accounted for 34% of the total rooftop installations in 1H 2021, with the rest making up the remaining 66%. Tata Power, Fourth Partner, and CleanMax Enviro Energy were top rooftop solar installers cumulatively to date and accounted for 21% of the total market share.
The rooftop solar segment is still very fragmented, with most of the installations coming from smaller installers.
Tata Power Solar, Fourth Partner Energy, and Prozeal Infra were the top solar rooftop installers in India in CY 2020.
According to Mercom’s India Rooftop Solar Market Report, in 1H 2021, 862 MW of rooftop solar capacity was added, a 210% increase compared to the same period of last year. Installations in 1H had already surpassed the total rooftop solar capacity installed in all of 2020 (719 MW) when the market was severely affected by COVID-19 lockdowns.
According to the stakeholders, there has been a surge of inquiries from commercial and industrial (C&I) consumers even during the lockdown from the second wave of COVID. The first half of the year could have seen higher installations if not for the uncertainty in the net metering regulations.
Gujarat leads the rooftop solar market with 25.1% of the total rooftop solar installations, followed by Maharashtra and Rajasthan.
The report stated that average rooftop solar system costs increased 3% in Q2 2021 compared to Q1. System costs have been rising since Q3 2020 due to rising costs led by modules and other components, coupled with raw material shortages.
Rooftop solar additions are expected to be robust this year. Favorable market conditions after the government finalized the net metering cap at 500 kW and a significant increase in residential solar installations in Gujarat due to PGVCL’s 600 MW tender and increased interest from the C&I segment are adding to the upward trend.
The Gujarat Urja Vikas Nigam has allowed registration of residential rooftop solar applications for up to 750 MW capacity from empaneled vendors for the financial year 2020-21 under the SURYA-Gujarat program.
A significant hurdle for the sector is the price volatility, with the cost of components pushing the cost of projects up due to COVID-19 related shortages and logistical issues. But the installers have been educating the consumers and ensuring that they understand the market fluctuations and are aware that solar is still cheaper than the retail power tariffs.
For a detailed analysis of market leaders throughout the solar supply chain in India and visit Mercom’s India Solar Market Leaderboard 1H 2021 Report.