Tata Power Solar, Amplus Solar, Roofsol Energy, Havells India, and Mahindra Solarize were the top rooftop solar companies in India during the calendar year (CY) 2023, according to Mercom’s India Solar Market Leaderboard 2024.

India added 1.7 GW of rooftop solar capacity in CY 2023, according to the 2023 Q4 & Annual Mercom India Rooftop Solar Market Report. As of December 2023, the country’s cumulative rooftop solar installations reached 10.5 GW.

Tata Power Solar led the annual capacity additions, accounting for 26.2% of the installations. Amplus Solar and Roofsol Energy ranked second and third, accounting for 7.9% and 4% of yearly installations, respectively. Havells India and Mahindra Solarize rounded off the top five with 3.9% and 2.8%, respectively.

These five companies accounted for 44.9% of the market share in 2023.

Tata Power Solar, a subsidiary of Tata Power Company, remained the top rooftop solar installer. As of December 2023, the company’s cumulative installed rooftop solar capacity stood at nearly 2 GW. The company’s pan-India distribution network, partnerships for rooftop solar system installations, financing, and a streamlined project supply chain have helped drive the capacity additions. During the year, the company partnered with Ecofy and signed a memorandum of understanding with the Small Industries Development Bank of India (SIDBI) to offer easy financing options for rooftop solar systems.

Amplus Solar, a Gentari Group member, owns and manages a portfolio (operational and under construction) of over 1.9 GW distributed solar assets with more than 650 projects spread over 24 states across India. The company’s cumulative installed rooftop solar capacity stood at 533 MW as of December 2023. Amplus Solar announced a partnership with Credit Fair to offer collateral-free rooftop solar financing solutions for individuals, residential welfare, and trust associations in October 2023.

Roofsol Energy has over 300 solar projects in India rooftop solar installations stood at 280 MW.

Mercom’s India Solar Market Leaderboard report covers the market landscape across the entire supply chain. For the detailed and comprehensive report, click here.

A complete list of the solar rooftop installers and their market share is available through Mercom’s India Solar Market Share Tracker.