India Solar Rooftop Market Forecast 2021 - brochure

M a r k e t I n t e l l i g e n c e . C o n s u l t i n g

India S olar Rooftop Market By State, By Connectivity, By End User, Competit ion

Forecast & Opportunities , 2011 – 2021

T a b l e o f C o n t e n t s

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© TechSci Research

S. No. Content

1. Product Overview

2. Research Methodology

3. Analyst View

4. India Energy Mix

5. India Solar Power Market Overview

6. India Solar Rooftop Market Outlook

6.1. Industry Structure & Stakeholders

6.2. Market Size & Forecast

6.2.1. By Value

6.2.2. By Capacity

6.3. Market Share & Forecast

6.3.1. By Connectivity (On-Grid Vs. Off-Grid)

6.3.2. By Region

6.3.3. By Company

6.3.4. By End User

6.4. Market Attractiveness Index

6.4.1. By End User

7. Tamil Nadu Solar Rooftop Market Outlook


7.1.1. By Value

7.1.2. By Capacity


7.2.1. By Connectivity


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7.2.2. By End User

7.3. Policy & Regulatory Landscape

7.4. Net Metering Policy

7.5. Tariff Analysis


7.6.1. By End User

8. Maharashtra Solar Rooftop Market Outlook


8.1.1. By Value

8.1.2. By Capacity



8.2.2. By End User





8.6.1. By End User

9. Rajasthan Solar Rooftop Market Outlook


9.1.1. By Value

9.1.2. By Capacity

9.2.3. Market Share & Forecast


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9.2.2. By End User





9.6.1. By End User

10. Punjab Solar Rooftop Market Outlook


10.1.1. By Value

10.1.2. By Capacity



10.2.2. By End User





10.6.1. By End User

11. Gujarat Solar Rooftop Market Outlook


11.1.1. By Value

11.1.2. By Capacity


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11.2.2. By End User





11.6.1. By End User

12. Madhya Pradesh Solar Rooftop Market Outlook


12.1.1. By Value

12.1.2. By Capacity



12.2.2. By End User





12.6.1. By End User

13. Delhi Solar Rooftop Market Outlook


13.1.1. By Value


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13.1.2. By Capacity



13.2.2. By End User





13.6.1. By End User

14. Haryana Solar Rooftop Market Outlook


14.1.1. By Value

14.1.2. By Capacity



14.2.2. By End User





14.6.1. By End User

16. Rest of India Solar Rooftop Market Outlook



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S. No. Content

16.1.1. By Value

16.1.2. By Capacity

16. Market Dynamics

16.1. Drivers

16.2. Challenges

17. Market Trends & Developments

17.1. Use of Inverters

17.2. Distributed Energy Generation

17.3. Use of Nanotechnology in Solar Cells

17.4. Anti-dumping duty on imports of Solar Panels

17.5. Public Private Partnership in Solar Rooftop Projects

17. Solar Rooftop Performance Improvement Measures

17.1. Use of Reflectors to improve Power Generation

17.2. Implementation of Tracker Systems

18. Raw Material Analysis

19. Cost Breakup Analysis

19. India Economic Profile

20. Competitive Landscape

20.1. Tata Power Solar Systems Limited

20.2. CleanMax Solar

20.3. Jaksons Engineers Limited

20.4. Thermax Limited

20.5. Hero Future Energies

20.6. KEC International Limited


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S. No. Content

20.7. RelyOn Solar Private Limited

20.8. SOLON India Private Limited

20.9. Fourth Partner Energy Pvt Ltd

20.10. Elecomponics Technologies India Pvt Ltd

21. Strategic Recommendation

22. About Us & Disclaimer

P r o d u c t O v e r v i e w

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Solar Rooftop:

A solar rooftop power system is dependent on sunrays for generation of electricity. Solar panels convert sunrays

into electricity, and the process of conversion does not involve any greenhouse gases emissions. A solar rooftop

power system comprises of solar panels, which are connected with electrical accessories such as cables, invertors,

batteries, etc. The system is connected with the load to supply electricity for consumption.

The power generation from solar rooftop power system is renewable because the feedstock for the process is

sunlight which is naturally replenished. Solar panels are mostly being made of silicon which is combined with

other materials in a way that there are extra electrons in one part of the cell and lack of electrons in another part.

When sunrays strike the cell, photons, which are present in the light, hit the extra electrons from silicon, and they

flow to other part of the cell which lacks electron to produce electricity. The electricity produced is a result of flow

of electrons in the cell, and the current is converted into usable electricity by the inverter.

Solar cells are classified into first, second and third generation cells, based on the chronology of development in

its manufacturing. The first generation cells are conventional ones which are made of crystalline silicon, and

include materials like polysilicon and monocrystalline silicon. Second generation cells are thin film solar cells

which include cadmium telluride (CdTe), amorphous silicon and copper indium gallium selenide (CIGS) solar cells.

The third generation cells are made of organometallic compounds as well as inorganic substances.

P r o d u c t O v e r v i e w

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Sun

Charge Controller

Inverter Battery

AC Load DC Loads

First and second generation solar cells are

commercially available, and are being used for

power generation. While, the third generation solar

cells are still in research & development phase.

In a solar power system, Direct Current (DC) is

generated which is stored in a battery, and the

power is supplied to DC load for consumption. The

inverters are being used to convert DC power to

Alternating Current (AC) for AC loads.

With technological advancements, the cost of power

generation from solar rooftop is coming down, and

is expected to reduce further in the coming years.

Source: TechSci Research

Figure 1: Anatomy of Solar Power Generation

Solar Panels

© TechSci Research

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Secondary Sources

Company Website Ministry of New and Renewable Energy

Central Electricity Regulatory Commission State Electricity Regulatory Commission

Solar Energy Corporation of India Ministry of Power

Central Electricity Authority Ministry of Statistics and Programme Implementation

Companies Interviewed

Tata Power Solar Sunkalp Energy

ACME Solar Vikram Solar

Thermax Limited KEC International

Lanco Solar Azure Power

R e s e a r c h M e t h o d o l o g y

OBJECTIVE: The primary objective of the study was to understand the present market and forecast the solar

rooftop market in India.

APPROACH & SOURCES: For forecasting the market of solar rooftop, Top Down approach has been used.

Multiple employees from the following companies have been interviewed through telephonic conversations in order

to extract and verify the information being collected at the source.

TechSci Research has scrutinized various published documents from following key sources in order to fill the data

gaps and verify information being collected through primary research surveys.

© TechSci Research

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In the beginning, a brief study of solar power generation technology in India was added which includes analysis

of information such as development of technology, initiatives and policies of Central and States’ governments,

which impact the country’s solar rooftop market.

Moreover, a detailed and in-depth scrutiny of information was done to understand each and every policy or

external or internal factors which can impact the market of solar rooftop in India. For this various documents

related to power sector were studied, followed by a detailed assessment of the use of solar rooftop technology

among end users.

Finally, a state-wise market for solar rooftop was analysed, and various companies which are involved in the

business of solar rooftops in India were identified.

The market for solar rooftop in India is in expanding phase, and the driving factors for market growth were

assessed for future forecasting.

The study has been carried out considering various aspects of solar rooftop market in India:


© TechSci Research

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To extract the data for India solar rooftop market, primary research surveys were conducted with key end users

industries and solar project developers, so as to assess the past market trend.

However, for forecasting the India solar rooftop market, following assumptions were made:

Investments in allied industries are expected to continue, as planned, during the forecast period

Growing trend in electricity demand scenario is expected to continue over the next five years, and same has

been considered to forecast the market for solar rooftop

Various government policies & regulations associated with solar power sector have been taken into account

Considering these assumptions, our dedicated team of industry experts has comprehensively monitored and

analyzed various aspects of solar rooftop market in India. The team has analyzed various industry segments

and speculated a positive future for solar rooftop market in India. Taking into consideration the developments,

capital investments, government support, etc., our team of analysts has provided a prudent analysis of the

industry’s performance in the future.


I n d u s t r y B r i e f

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India Solar Rooftop Market Set to Grow at 60% till 2021

Increasing number of government initiatives coupled with favorable policy environment to boost solar rooftopmarket in India through 2021

According to a recently published TechSci Research report “India Solar Rooftop Market By State, ByConnectivity, By End User, Competition Forecast & Opportunities, 2011 – 2021”, the solar rooftop market inIndia is projected to grow at a CAGR of over 60% during 2016 – 2021, predominantly on account of risinggovernment focus on increasing the share of solar power in the country’s energy mix. As per the Census of India2011 and Wasteland Atlas of India 2011, the total solar power capacity in the country stood at 748 GW, which ismore than twice the country’s total installed power capacity. In 2015, Government of India had set a target of100 GW of solar power generation in the country by 2022, which is five times more than the target set in 2009.

In India, the solar rooftop market is still in its nascent phase, and the market is expected to grow at a robustpace over the next five years backed by favorable government measures and abundant solar resources. In orderto boost solar power generation in the country, the Government of India has announced various policies andregulations such as Accelerated Depreciation, Capital Subsidies, Renewable Energy Certificates (RECs), NetMetering Incentives, Assured Power Purchase Agreement, etc. These schemes have been introduced by thegovernment to reduce the capital expenditure in building a solar power plant, and subsidize solar powergeneration in order to make it economically viable for the stakeholders involved in the solar power business.

“In India, the total solar power generation capacity increased from around 160 MW in 2010 to more than 6,700MW in 2016 owing to favorable government initiatives coupled with development in manufacturing technologyof solar panels. Improving manufacturing technology has led to reduction in cost of solar panels which hasresulted in reduction in cost of solar power generation. With declining cost of solar power and increasinglyfavorable government policies, solar power industry is expected to witness bright days ahead.” said Mr. KaranChechi, Research Director with TechSci Research, a research based global management consulting firm.

https://www.techsciresearch.com/report/india-solar-rooftop-market-by-state-delhi-gujarat-haryana-madhya-pradesh-maharashtra-punjab-rajasthan-tamil-nadu-by-end-user-commercial-industrial-residential-by-connectivity-on-grid-off-grid-forecast-and-opportunities-2021/692.html

India Solar Rooftop Market Size, By

Value (USD Million), By Capacity

(Megawatts), 2011 – 2015

S a m p l e D a t a - S n a p s h o t

1 2 3 4 53

57

911

2011 2012 2013 2014 2015

1 2 3 45 6

3 57

911

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© TechSci Research

India Solar Rooftop Market Size, By

Value (USD Million), By Capacity

(Megawatts), 2016 – 2021F

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India Solar Rooftop Market Share, By

Region, By Value, 2015 & 2021F

North Region

East Region

South Region

West Region

2015 2025F--------------------

X% X%

2015 2025F--------------------

X% X%

2015 2025F--------------------

X% X%

2015 2025F--------------------

X% X%

0.00%

0.50%

1.00%

1.50%

2.00%

2.50%

3.00%

3.50%

0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50

India Solar Rooftop Market Attractiveness

Index, By End User, By Value, 2015-2021F

Commercial

Residential Industrial

Tata Power …

Jaksons Engine…

Clean Max …

Thermax …

Hero Future Energies, …

Othe…

2015

India Solar Rooftop Market Share, By Company, By Value, 2015 & 2021F

Tata …

Jaksons Engine…

Clean Max …

Thermax …

Hero Future …

Oth…

2021F

Tamil Nadu Solar Rooftop Market Attractiveness

Index, By End User, By Value, 2015-2021F

0.00%

0.50%

1.00%

1.50%

2.00%

2.50%

3.00%

3.50%

0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50

Commercial

Residential

Industrial

R e p o r t O r d e r i n g

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Report Name: India Solar Rooftop Market By State, By Connectivity, By End

User, Competition Forecast & Opportunities, 2011 – 2021

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TechSci Research is a global market research and consulting company with offices in the US, the UK and India. TechSci Research

provides market research reports in a number of areas to organizations. The company uses innovative business models that focus on

improving productivity, while ensuring creation of high-quality reports. The proprietary forecasting models use various analyses of both

industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of a country, regional

and global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich

evaluation of the opportunities available in the market.

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The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made thatit is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sourcesincluding which it considers reliable and first hand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of anyinformation and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially states that ithas no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts, canchange without notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption.Usage of the same for purpose other than internal will require prior approval of TechSci Research.

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