India's Solar Rooftop Capacity Soars 78%, Surpasses 12 GW Mark

(MENAFN- KNN India) New Delhi, May 22 (KNN) India's solar rooftop installation capacity witnessed a significant 78 per cent increase over the past year, surpassing the 12 gigawatt (GW) mark as of April 2024.

This burgeoning growth has been spearheaded by key states such as Gujarat, Maharashtra, and Rajasthan, which collectively account for over 56 per cent of the nation's total installed solar rooftop capacity.

Gujarat presently leads the charge with over 3,455 megawatts (MW) of installed solar rooftop capacity, trailed by Maharashtra at 2,071 MW and Rajasthan at 1,154 MW.

From April 2023 to March 2024, India's solar rooftop installed capacity escalated from 6.645 GW to 11.869 GW. Southern states like Tamil Nadu and Kerala have also exhibited rapid growth rates of 55 per cent and 53 per cent respectively in this sector.

The central government's announcement of the PM Surya Muft Bijli Yojana scheme in February 2024, aiming to install solar rooftops on 10 million homes, has thus far seen a lukewarm response.

Compared to the average 400 MW of monthly installations, only 144 MW of new capacity was added nationwide in April 2024, with Gujarat, Rajasthan, and Tamil Nadu accounting for the bulk of these additions.

Industry experts anticipate a surge in solar rooftop installations once the upcoming general elections conclude and subsidies under the new scheme are clarified.

Vinay Thadani, director of Grew Energy Pvt Ltd, a solar energy firm, stated the scheme presents a potential 25-50 GW market for manufacturers.

To capitalise on this opportunity, Grew Energy recently relocated its proposed Rs 4,500 crore solar module manufacturing unit from Gujarat to Jammu. The facility, slated for commissioning by early 2025-26, will produce 3.2 GW of high-efficiency solar modules and 2.8 GW of ingots, wafers, and cells annually, catering to domestic demand, especially in states with low solar rooftop penetration.

Deepesh Nanda, MD & CEO of Tata Power Renewable Energy Ltd, highlighted that southern states like Tamil Nadu and western states like Maharashtra are well-positioned for rooftop solar adoption due to high solar irradiation and escalating energy demands. His company plans to double its network of channel partners to 1,000 across 450 cities to facilitate wider rooftop solar unit adoption.

While Gujarat has over 510,000 households with solar rooftops generating over 5,200 million units, the state is actively courting solar system manufacturers to bridge the gap between India's solar cell manufacturing capacity of 5 GW and its solar module capacity of 45 GW, reducing dependence on imports.

(KNN Bureau)


KNN India

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