India adds 1.2 GW of rooftop solar in Jan-Sept this year

New Delhi:Indiaadded 1.2 gigawatt (GW) of rooftop solar in the January to September period of calendar year (CY) 2022, an 11 per cent decrease compared to the same period last year, according to a latest report.

It added that the decline in installations was primarily due to the increase in the cost of solar modules and uncertainty over the Approved List of Module and Manufacturers extension during the period.

“India added 320 megawatt (MW) of rooftop solar in the Q3 of the CY22, almost an 18 per cent drop quarter-over-quarter (q-o-q) compared to 389 MW installed in Q2 2022,” according to Mercom India Research’s Rooftop Solar Market Report Q3 2022.

It added that rooftop solar installations in Q3 2022 were down about 29 per cent year-over-year (y-o-y). In Q3 2022, 46 per cent of rooftop solar was installed in the industrial sector, followed by residential, commercial, and government sectors, with 32 per cent, 21 per cent, and 1 per cent, respectively.

“We are seeing rooftop solar installations trending down as costs have risen. The market is struggling with supply issues because of ALMM, and installers are finding it a tough environment to operate in overall,” said Raj Prabhu, CEO of Mercom Capital Group.

According to the report, at the end of Q3 2022, cumulative rooftop solar installations reached 8.3 GW.