India Rooftop Solar Market Size (2024 - 2029)

India Rooftop Solar Market Size Summary

The Indian solar rooftop market is poised for substantial growth, driven by increasing demand in the commercial and industrial sectors and a strong governmental push towards renewable energy integration. The market is expected to expand significantly over the forecast period, supported by initiatives such as the Grid Connected Solar Rooftop Scheme and the Rooftop Solar Programme Phase-II. These programs aim to enhance solar rooftop installations across the country, with the government providing financial assistance to encourage adoption among residential and industrial consumers. Despite challenges like slow-paced project installations, the untapped solar potential and focus on decentralization present significant opportunities for market expansion, allowing consumers to reduce reliance on central grids.

The on-grid solar photovoltaic systems have seen notable growth, facilitated by various government policies and initiatives that align with India's national renewable energy targets. The introduction of net metering schemes has been pivotal, enabling consumers to feed excess electricity back into the grid, thereby reducing electricity costs and promoting grid stability. States like Gujarat, Maharashtra, and Karnataka lead in installed capacity, reflecting the regional adoption of these systems. The market's growth is further bolstered by government incentives, including subsidies and tax credits, which are crucial in driving the adoption of solar rooftop projects across residential, commercial, and industrial sectors. Key players in the market, such as Tata Power Solar Systems Limited and Clean Max Enviro Energy Solutions Pvt. Ltd, continue to contribute to the market's development through strategic projects and partnerships.