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India added 1.
7 GW of rooftop solar in 2021, the highest on record
in 2021, according to clean energy research institute Mercom India.
Installs increased by 210%
compared to 2020.
India added 402 MW of rooftop solar in Q4 2021, down 10% month-on-month; But it increased by 41%
year-on-year.
According to the report, as of the end of the fourth quarter of 2021, the cumulative installed rooftop solar exceeded 7 GW
.
According to the report, the top 10 states accounted for nearly 85%
of rooftop solar installations in 2021.
Gujarat is by far the state with the highest total number of rooftop solar installations, followed by Maharashtra and Rajasthan in second and third
place respectively.
In the fourth quarter of 2021, 44% of rooftop solar installations came from the commercial sector, followed by the industrial, residential and government sectors with 41%, 10% and 5%,
respectively.
"India's rooftop solar market has had its best year, mainly due to pent-up demand since 2020 due to the pandemic
.
Certainty around net metering regulation contributes to consumer demand
in all sectors (residential, commercial and industrial).
The increase in component costs will weaken demand in 2022, but we still expect positive growth this year," said
Raj Prabhu, CEO of Mercom Capital Group.
In the fourth quarter of 2021, approximately 68% of rooftop solar installations were on the CAPEX model, while new installations under the OPEX/RESCO model contributed the remaining 32%.
In addition, the cost of rooftop solar systems increased by 14.
75%
year-on-year.
India added 1.
7 GW of rooftop solar in 2021, the highest on record
in 2021, according to clean energy research institute Mercom India.
Installs increased by 210%
compared to 2020.
India added 402 MW of rooftop solar in Q4 2021, down 10% month-on-month; But it increased by 41%
year-on-year.
According to the report, as of the end of the fourth quarter of 2021, the cumulative installed rooftop solar exceeded 7 GW
.
According to the report, the top 10 states accounted for nearly 85%
of rooftop solar installations in 2021.
Gujarat is by far the state with the highest total number of rooftop solar installations, followed by Maharashtra and Rajasthan in second and third
place respectively.
In the fourth quarter of 2021, 44% of rooftop solar installations came from the commercial sector, followed by the industrial, residential and government sectors with 41%, 10% and 5%,
respectively.
"India's rooftop solar market has had its best year, mainly due to pent-up demand since 2020 due to the pandemic
.
Certainty around net metering regulation contributes to consumer demand
in all sectors (residential, commercial and industrial).
The increase in component costs will weaken demand in 2022, but we still expect positive growth this year," said
Raj Prabhu, CEO of Mercom Capital Group.
In the fourth quarter of 2021, approximately 68% of rooftop solar installations were on the CAPEX model, while new installations under the OPEX/RESCO model contributed the remaining 32%.
In addition, the cost of rooftop solar systems increased by 14.
75%
year-on-year.
