Rooftop solar installations rise to 1.7 GW in 2023

05 Mar 2024 CW Team

Rooftop solar capacity addition saw a 6.25 per cent growth to 1.7 GW in 2023, supported by various factors like reduced installation cost, according to Mercom Capital. The rooftop capacity addition was at 1.6 GW in 2022, the US-based research firm said in its latest report.

In October-December 2023, 406 megawatts (MW) of rooftop solar was added, down 15.9 per cent from 483 MW in the last quarter of 2022, the 'Mercom India Rooftop Solar Market Report' said. Cumulative rooftop solar installations reached 10.5 GW at the end of December 2023. Residential installations were the primary driver of capacity additions in 2023.

However, growth was marginal as many commercial and industrial (C&I) consumers waited for module prices to stabilise to lower their capital investments.

The residential segment accounted for over half of the capacity additions in 2023, followed by C&I segments.

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