Rooftop Solar Shows Promising Growth in India Even as Renewable Sector Stumbles: Report

Despite the entire renewable energy sector stumbled, the rooftop solar sector in India has witnessed a promising growth during the 12-month period from July 2020 to June 2021, said the latest Bridge to India (BTI) report.

October 13, 2021. By Manu Tayal

Despite the entire renewable energy sector stumbled, the rooftop solar sector in India has witnessed a promising growth during the 12-month period from July 2020 to June 2021, said the latest Bridge to India (BTI) report.

As per the BTI India Renewable Map report, total commissioned utility-scale renewable (solar and wind) capacity and rooftop solar capacity have reached 77,082 MW and 7,701 MW respectively as of June 30, 2021.

The total utility scale solar and wind capacity addition between July 2020 and June 2021 stood at 6,530 MW, witnessing a nominal 3% y-o-y increase, with Gujarat, Rajasthan and Uttar Pradesh added the highest capacities i.e. 2,256 MW, 1,438 MW and 822 MW respectively.

The total share of renewable power in generation stood at 10.01%, a 1% y-o-y decrease, according to BTI report.

On the other hand, Tamil Nadu with 9,038 MW capacity leads in wind power installation while Karnataka with 7,383 MW capacity leads in utility scale solar installations.

Adani with 11% market share with 725 MW, followed by ReNew 561 MW and Avaada 522 MW capacity reached on top in the developers list by capacity commissioned in the past year.

Further, solar EPC market was led by Mahindra with 11.9% market share, TATA with 10.6% and Adani 9.8%, while wind EPC market lead was held by Suzlon 45.7%, Siemens Gamesa 17.2% and Vestas 7.3%.

However, all the top 5 module manufacturers are from China i.e. Jinko 16.2% market share, Longi 15.1%, Risen 12.3%, Trina 8.8% and Suntech 6.4%. The total share of Chinese suppliers in the year was 76.2%.

Adding to it, the top inverter player positions are also held by Chinese suppliers: Sungrow (34.5% market share), followed by Sineng (20.6%), Huawei (12.6%) and TBEA (11.4%).

According to the BTI India Solar Rooftop Map report, the total annual rooftop solar capacity addition in the 12-month period between July 2020 and June 2021 stood at 1,784 MW, a 53% y-o-y increase.

Share of OPEX model decreased to 20% (from 39% in the previous year) as developers focused on open access market for faster growth and consumers restricted site access because of COVID concerns.

Maharashtra was again the leading state with new installations of 237 MW, followed by Gujarat (128 MW) and Rajasthan (114 MW).

Residential segment installations (annual installation of 488 MW) saw a big jump of 360% y-o-y partly due to MNRE subsidy scheme and large tenders by many states. Residential segment share in total rooftop solar market moved up from 9% to 28% in the year.

The EPC market was highly fragmented – top three players are Tata Power with 10.80%, Fourth Partner 4.95% and Mahindra 2.52%. The project development business is relatively more concentrated – top 3 developers include Fourth Partner with 17.96%, Amplus 13.86% and Cleantech 7.40%.

Commenting on the reports, Vinay Rustagi, Managing Director, Bridge to India, said “India’s renewable sector has shown remarkable resilience in the face of multiple challenges last year. But investor confidence is still downbeat because there is tremendous policy uncertainty all around and executions risks are rising. Anticipated growth in 2021 and 2022 is at risk from higher equipment prices and proposed increases in various taxes and duties. It would be great to see more proactive support from the government for the distributed renewable market, which is likely to be hit the hardest.”
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