Rooftop solar installations rise 34.7% to 431 MW in Jul-Sep: Mercom
The rooftop solar installations in India registered a 34.7 per cent year-on-year jump to 431 MW during July-September 2023, aided by a fall in module prices, Mercom India said.
![Rooftop solar installations rise 34.7% to 431 MW in Jul-Sep: Mercom](https://cdn.zeebiz.com/sites/default/files/2023/12/03/271224-solar-26667701280.jpg?im=FitAndFill=(1200,900))
The rooftop solar installations in India registered a 34.7 per cent year-on-year jump to 431 MW during July-September 2023, aided by a fall in module prices, Mercom India said.
The rooftop solar installations were at 320 megawatt (MW) during the three-month period of 2022, the research firm said in a report.
The rooftop solar capacity addition was also higher at 1.3 gigawatt (GW) in the first nine months of 2023, compared to 1.2 GW in January-September 2022.India's cumulative rooftop solar capacity reached 10.1 gigawatts (GW) at the end of September 30, 2023, the 'Q3 2023 Mercom India Rooftop Solar Report' said.
"We are starting to see a surge in momentum in rooftop installations. The significant drop in module prices has reached a turning point, sparking increased procurement activities that offer attractive returns for rooftop solar investments. We foresee two very robust quarters coming up," said Raj Prabhu, CEO of Mercom Capital Group.
The majority of installations were in the residential segment, followed by the commercial and industrial (C&I) market segments.
During the quarter, average rooftop solar system cost fell 13.4 per cent year-on-year (YoY) and around 5 per cent on a quarter-on-quarter basis.
Gujarat continued to lead in rooftop solar installations, contributing to 26.7 per cent of the cumulative installations, followed by Maharashtra (13.5 per cent) and Rajasthan (8.3 per cent).
The top 10 states accounted for around 77 per cent of the cumulative rooftop solar installations as of September 2023.
Between Q3 2022 and Q3 2023, Kerala recorded the highest compounded growth of 15 per cent, followed by Gujarat (7.3 per cent) and Maharashtra (5.1 per cent).
In Q3 2023, 119 MW of rooftop solar tenders were announced, down 61.6 per cent compared to 310.6 MW in Q3 2022.
Around 62 per cent of the total tendered capacity during the quarter was for government buildings in Rajasthan, Gujarat, Kerala, and other states.
A subsidiary of US-based Mercom Capital Group Mercom India is an energy research company with expertise in cleantech markets.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
![https://www.zeebiz.com/personal-finance/photo-gallery-sip-swp-monthly-pension-income-retirement-corpus-planning-calculator-inr-rs-20000-monthly-investment-for-15-years-inr-99000-monthly-return-for-42-years-313283](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/09/06/316973-rupee-pixabay-take-1.jpg?itok=02-hJh59)
SIP+SWP: Rs 20,000 monthly SIP for 16 years to get Rs 99,000 monthly income for 42 years; how is it possible?
![https://www.zeebiz.com/market-news/news-bajaj-finserv-rvnl-borosil-renewables-carysil-railtel-corporation-stocks-to-buy-hdfc-securities-recommendation-picks-target-stop-loss-bse-nse-313386](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/09/06/317091-26.jpg?itok=gE1cWt7z)
RVNL, Bajaj Finserv and 5 more: Brokerage recommends buying these 7 stocks for up to 3 months | Check target, stop loss
![https://www.zeebiz.com/personal-finance/photo-gallery-nps-vs-ups-vs-ops-monthly-pension-income-retirement-corpus-calculator-what-will-be-your-pension-on-inr-rs-10000-contribution-for-35-years-expert-calculations-313361](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/09/06/317060-rupee-pixabay-take-2.jpg?itok=cOVdof_v)
NPS vs UPS vs OPS: What will be your monthly pension if you contribute Rs 10,000 monthly for 35 years? Get expert calculations
![https://www.zeebiz.com/personal-finance/photo-gallery-top-7-etf-sip-mutual-funds-in-5-years-calculator-how-inr-rs-21000-monthly-investment-has-grown-in-nifty-sp-bse-next-50-cpse-uti-icici-pru-nippon-india-motilal-oswal-bharat-22-nift-mid-infra-313306](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/09/06/316994-indian-currency-pixabay-take-1.jpg?itok=JURVEkst)
Top 7 ETF Mutual Funds With Highest SIP Returns in 5 Years: How Rs 21,000 monthly SIP has grown in each ETF over the years
![https://www.zeebiz.com/personal-finance/photo-gallery-sbi-senior-citizen-fd-fixed-deposit-latest-interest-rate-2024-calculator-what-be-maturity-amount-with-return-on-investments-of-inr-900000-lakh-in-1-3-5-year-guaranteed-return-scheme-retirement-planning-313221](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/09/06/316909-note-coin-pixabay-take-1.jpg?itok=3RPKcBYE)
SBI Senior Citizen FD Rates 2024: What you can get if you invest Rs 3 lakh, Rs 5 lakh, Rs 7 lakh, and Rs 9 lakh in 1-, 3-, and 5-year FDs
01:20 PM IST