New Delhi: Attracted by India’s solar rooftop market potential, GCL System Integration Technology Co. Ltd, one of China’s largest solar equipment maker, will partner with India’s MYSUN to tap the retail end of the market.
The plug and play model is being explored wherein the firms will finance, deliver, install, and service solar kits. These solar kits comprising of solar panels, lithium ion batteries and accessories, including fitments for installation, will be sold online.
While investors have been enthused by India’s ground mounted grid connected large solar parks, the firms are trying to target the retail end of the market which hasn’t gained much traction.
India, the world’s third-largest energy consumer after the US and China, plans to set up 175 gigawatt (GW) of renewable energy capacity by 2022 as part of its global climate change commitments. Of India’s plan to add 100GW of solar power capacity by 2022, 40GW is to come from rooftop projects.
Aware of the potential, the firms are looking at reducing the delivery and installation period for solar systems from around three months today to a week’s time.
“Staying true to our commitment to ‘retailisation’ of solar, we have introduced this unique product in the market to make the journey to solarisation easy, reliable and hassle free. We are excited to join hands with GCL, a global market leader, to offer advanced technology solar products to Indian consumers,” said Gagan Vermani, founder and chief executive officer of MYSUN, a roof top solar company and an online solar platform.
India’s solar rooftop market will grow if net-metering is implemented by the states. India offers a big opportunity given its 750GW potential as it records around 300 sunny days a year with an average solar radiation range of 4-7 per kilowatt-hour (kWh).
“These plug and play Solar Kits have had a phenomenal response globally and we are really excited to bring these products to an upcoming market like India. In MYSUN, we found just the right partners to achieve our very ambitious plans for this product line. The products would be marketed under the brand G-Home, powered by MYSUN,” said Krishan Mehta, chief executive officer and country head, GCL India.
With an installed capacity of 6GW, GCL is among the largest global solar module manufacturers.
For India’s solar power targets to be met, the rooftop piece will have to take off. However, there are concerns as India is not expected to achieve even half of the solar rooftop targets by December 2021, according to consulting firm Bridge To India (BTI).
A parliamentary standing committee has said that the 40GW target of grid-connected rooftop solar by 2022 is “unrealistic”, Mint reported on 1 August.
BTI in its July report said India had added 678 megawatt (MW) of rooftop solar capacity in 2016-17, growing at 81% year-on-year, reaching total installed capacity of 1,396MW.
India’s green energy play is expected to grow substantively with federal policy think tank NITI Aayog projecting 597-710GW capacity by 2040 in its new draft energy policy.
Source: livemint
