Solis Emerges as Top Inverter Supplier to Indian Rooftop Solar Market

China-based solar photovoltaic (PV) inverter supplier Solis has emerged as the top inverter supplier for Indian rooftop solar customers with the highest market share of 19.12 per cent of the entire 1,748 MW capacity of inverters supplied between July 2020 and June 2021, according to the consulting and research services company Bridge to India (BTI).

October 18, 2021. By Manu Tayal

China-based solar photovoltaic (PV) inverter supplier Solis has emerged as the top inverter supplier for Indian rooftop solar customers with the highest market share of 19.12 per cent of the entire 1,748 MW capacity of inverters supplied between July 2020 and June 2021, according to the consulting and research services company Bridge to India (BTI).

As per the Bridge to India Solar Rooftop Map June 2021, Solis grabbed the first position with a 19.12 per cent market share, and another China-based inverter manufacturer Sungrow won the second spot with 14.79 per cent share.

Despite the entire renewable energy sector stumbled, the rooftop solar sector in India has witnessed promising growth during the 12-month period.

Further, Delta, Growatt, and Goodwe secured the third, fourth, and fifth positions with 13.11 per cent, 10.77 per cent, and 8.10 per cent market share respectively.

On the other hand, SolarEdge, Polycab, and Waaree grabbed the sixth, seventh, and eighth spots in the Bridge to India’s Solar Rooftop latest report with 7.58 per cent, 5.64 per cent, and 5.45 per cent market share respectively.

As per the BTI report, rooftop solar capacity reached 7,701 MW as of June 30, 2021.

However, Livguard, Luminous, Fronius, Statcon, and Evolve remained on the ninth, tenth, eleventh, twelfth, and thirteenth positions with 4.65 per cent, 3.26 per cent, 1.85 per cent, 1.74 per cent, and 1.37 per cent respectively, and 2.57 per cent market share has been occupied by other inverter suppliers.

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 per cent y-o-y increase.

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

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