The report “Solar Rooftop Market in India– Trends, Analysis and Forecast till 2020”.
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- On September 26, 2019, it was announced that Tata Power Solar won 105MWp bid of one of the largest floating solar plants in the world to be installed at NTPC Kayamkulam in Kerala.
- In November, 2019, Tata Power Solar launches #PledgeForSolar, a remarkable campaign to endorse sustainable energy solutions at Solapur.
Solars’ changing economics is already influencing the business consumption and investments and given the push from the Indian government, the sector is progressing towards a multi-faceted growth. Talking about consumption, a new demand segment for solar power is picking up the trend i.e. solar rooftops. A good number of companies especially the PSUs with large physical footprints and high power costs are switching towards installing commercial-scale rooftop solar systems, often at less than the current price of buying power from a discom. Also, for the industrial belts where power requirement is massive and congestion in the transmission lines is also high, rooftop systems can be utilized to get some respite. Two factors are driving a stronger adoption of solar power in India, first the cost of solar power has been falling steeply over the last couple of years, thus c0onsistently inching closer to grid parity. The second and perhaps most important reason is the changing consumer behavior that is increasingly moving towards cleaner sources of energy.
Key Market Insights from the report:
The Solar Rooftop market accounted for US$ 25.7 billion in 2019 and is projected to register a moderate CAGR of 5.90% over the forecast period.
- Tax Benefits – Direct and indirect tax benefits such as sales tax, excise duty exemptions and custom duty exceptions have been given. Project developers were exempted from income tax on all earnings from a project in its first 10 years of operation and accelerated depreciation (AD) for solar energy producers to claim 40% of the costs in the first year itself.
- Assured Power Purchase Agreement (PPA) – The electricity generated from solar PV rooftop could be entirely fed into the grid at regulated feed-in-tariffs (FiT). State utilities guarantee the purchase of solar power through a PPA which offers a high price equal to that of the peaking power on demand for the solar power which is secondary power or negative load and an intermittent energy source on a daily basis.
- Renewable Energy Certificates (RECs) – RECs are tradable certificates that provide an incentive to those who generate green power by providing financial incentives for every unit of power they generate. The solar PV rooftop is eligible for issuance of renewable energy certificate (RECs) as specified under Central Electricity Regulatory Commission.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on ““Solar Rooftop Market in India,”- Trends, Analysis and Forecast till 2020
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The prominent player operating in the Solar Rooftop Market in India includes Loom Solar, Vikram Solar, Tata Solar, LG India, Waaree, Luminous, Panasonic, Trina Solar, Canadian Solar, and First Solar.
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