Press release
India Solar Rooftop Market to Reach USD 6.17 Billion by 2030, Driven by Renewable Energy Adoption and Government Incentives
India Solar Rooftop Market
India Solar Rooftop Market Overview
The India Solar Rooftop Market is rapidly growing as the country transitions toward sustainable and decentralized energy generation. Solar rooftop systems-comprising photovoltaic (PV) panels, inverters, and monitoring devices-enable residential, commercial, and industrial consumers to produce their own clean electricity while reducing dependency on grid power. This shift supports India's broader renewable energy goals and carbon reduction commitments. As of 2023, rooftop solar capacity reached 10.9 GW, accounting for about 15% of India's total solar installations, with key contributions from Maharashtra, Gujarat, Karnataka, Tamil Nadu, and Rajasthan, which together represent more than half of the installed base. Government initiatives such as the Jawaharlal Nehru National Solar Mission (JNNSM) and the Solar Rooftop Subsidy Scheme have significantly boosted adoption through financial incentives and policy support. Major companies like Tata Power Solar, CleanMax, Amplus Solar, and Fourth Partner Energy are leading the market through large-scale deployments in both residential and commercial sectors.
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India Solar Rooftop Market Dynamics
The need for clean, reliable, and cost-effective energy is the primary driver of growth in the India Solar Rooftop Market. Rising electricity tariffs, falling solar panel costs, and government subsidies have made rooftop systems an attractive option for energy consumers. The commercial and industrial (C&I) sectors, in particular, are leveraging solar rooftops to reduce operational costs and meet sustainability goals. Additionally, favorable policies such as net metering and feed-in tariffs have encouraged wider adoption by allowing consumers to sell excess energy to the grid. However, the market faces several challenges, including regulatory inconsistencies among states, limited financing options, and the reluctance of distribution companies (DISCOMs) to approve net metering connections due to perceived revenue losses. High upfront installation costs and low consumer awareness-especially in rural areas-further limit adoption. To address these issues, policymakers are promoting innovative business models such as virtual net metering and peer-to-peer (P2P) energy trading, which aim to enhance accessibility and attract new investors into the solar ecosystem.
India Solar Rooftop Market Outlook and Future Trends
The outlook for the India Solar Rooftop Market remains highly optimistic, driven by the government's commitment to achieve 500 GW of renewable energy capacity by 2030. Rooftop solar is expected to play a key role in achieving these targets, particularly in the residential and SME segments. The market is forecasted to grow from USD 5.36 billion in 2023 to USD 6.17 billion by 2030, at a CAGR of 15.19%. Future growth will be supported by technological advancements such as high-efficiency solar modules, smart inverters, and integrated energy management systems. The widespread adoption of digital monitoring and IoT-based platforms will enhance performance tracking and maintenance efficiency. Moreover, increased participation from private investors, corporate ESG commitments, and the expansion of green financing options will further propel market growth. Regional demand is expected to remain strong in South India due to high solar irradiation and progressive state policies, while northern and western states are likely to see a surge in installations supported by industrial expansion and urban development.
Key Recent Developments
Recent developments have strengthened India's rooftop solar ecosystem. The Ministry of New and Renewable Energy (MNRE) launched the National Portal for Rooftop Solar to streamline subsidy disbursements and simplify the approval process. In 2023, the government also enhanced the rooftop solar subsidy under the PM-Surya Ghar: Muft Bijli Yojana, encouraging widespread adoption in residential sectors. Tata Power Solar continued to expand its dominance with major projects across commercial and industrial facilities, while Amplus Solar and CleanMax completed several large-scale rooftop installations under the RESCO model. International organizations such as the International Energy Agency (IEA) and the Council on Energy, Environment and Water (CEEW) collaborated with MNRE to address regulatory barriers and financing challenges. Additionally, new business models emphasizing energy storage integration and community solar projects are emerging, aiming to make rooftop solar more accessible, reliable, and economically viable for both urban and rural consumers across India.
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India Solar Rooftop Market Segmentation
by Capacity
1KW to 10 KW
11 KW to 100 KW
Above 100 KW
by Connectivity
On-Grid
Off-Grid
Hybrid
by End User
Residential
Commercial
Industrial
Some of the current players in the India Solar Rooftop Market are:
1. Tata Power Solar Systems Limited
2. Amplus Solar Power Pvt. Ltd.
3. Clean Max Enviro Energy Solutions Pvt. Ltd.
4. Sunsource Energy Pvt. Ltd.
5. Orb Energy Pvt. Ltd.
6. Fourth Partner Energy Pvt. Ltd.
7. Mahindra Susten Pvt. Ltd.
8. Growatt New Energy Technology Co. Ltd.
9. Roofsol Energy Pvt. Ltd.
10. Cleantech Energy Corporation Pte Ltd
For additional reports on related topics, visit our website:
♦ Wind Energy Storage Devices Market https://www.maximizemarketresearch.com/market-report/wind-energy-storage-devices-market/71917/
♦ Global Solar Photovoltaic Installations Market (PV) https://www.maximizemarketresearch.com/market-report/global-solar-photovoltaic-installations-market-pv/15099/
♦ Global Batteries for Electric Vehicles Charging Stations Market https://www.maximizemarketresearch.com/market-report/batteries-for-electric-vehicles-charging-stations-market/71730/
♦ Global Unconventional Gas Market https://www.maximizemarketresearch.com/market-report/global-unconventional-gas-market/42885/
♦ Solar Water Heater Market https://www.maximizemarketresearch.com/market-report/solar-water-heater-market/11436/
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