India’s cumulative solar rooftop installations has reached 4.4 gigawatt(GW) in 2019.Last year, large-scale projects accounted for 85% of all solar rooftop installations.
The booming solar sector has been resilient of the economic downturn and NBFC crisis, which has made the financing of solar rooftop projects very difficult. Removal of tariff caps in reverse auctions, timely payments by government agencies, increased lending support can set the market back on track.
A market report by Mercom Capital Group estimates solar installations to increase by 17% y-o-y to 8.5 GW by the end of 2020 and in the 65 – 70 GW range by 2022.
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