India installed 1.6 GW of rooftop solar in the Jan.-Dec. period of 2022, almost 6% less than 1.7 GW installed in 2021, according to Mercom India’s latest Q4 2022 and annual rooftop solar market report. About 42% of installations during the year were in the industrial segment, while residential, commercial, and government segments accounted for 32%, 25%, and 1%, respectively.
According to the report, cumulative rooftop solar installations reached almost 8.8 GW as of Dec. 31, 2022. Gujarat topped in the installed capacity with a 24% share of cumulative solar rooftop installations, followed by Maharashtra (14%) and Rajasthan (9%).
“2022 was a lost opportunity for the rooftop solar market in India, affected by policy challenges restricting supply and impacting the cost of modules. Despite the hurdles, installations were almost on pace with the previous year. Strong fundamentals continued to drive installations in the commercial and industrial segments. We expect growth to resume in 2023 as pricing and supply challenges moderate,” said Raj Prabhu, CEO of Mercom Capital Group.
The imposition of the basic customs duty (BCD) and the Approved List of Models & Manufacturers (ALMM) mandate for rooftop solar projects added to the volatility in solar module prices and supply in the market. “Installations may have been higher if project costs hadn’t surged after the BCD and if installers had clarity about grid-connected rooftop solar projects requiring ALMM-enlisted modules,” noted the report.
The fourth quarter (Oct.-Dec. period) of 2022 saw a rooftop solar addition of 483 MW, 56% of which was in the residential and 43% in the commercial and industrial segments.
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