Rooftop Solar account for 12% of the Total Solar Installation in Q2 2022
India installed around 438 MW of rooftop solar capacity in the second quarter (Q2) of the calendar year (CY) 2022, an increase of 12.9% compared to around 388 MW installed in the previous quarter (Q1 2022). On a year-over-year (YoY) basis, installations increased by 7% from the 408 MW installed in the same period last year. The first half (1H) of CY 2022 saw 825 MW of rooftop solar capacity added, a 39% decrease compared to the same period last year.
Rooftop Solar contributes just 12 % of the total Solar PV installations in the second quarter of 2022. India’s cumulative rooftop solar capacity reached over 7.037 GW at the end of June 2022 and still makes up just 13% of the total Solar PV installations in the country, the target for Solar rooftops by December 2022 is 40 GW, still, a long way to go to reach the target, it is impossible to install 40 GW of Solar rooftop projects.
The installations in the quarter were slow due to a BCD (basic customs duty), one of the major reasons for the decline in the overall installations of rooftops in the second quarter was the lack of panels availability, as C&I consumers don’t want to install the projects with higher panels price, which went down to the lowest a few quarters back. The good days were gone for the Commercial & Industrial consumers as they have to pay extra costs for the procurement of modules on the imposition of BCD.
Over 83% of rooftop solar installations were in the top 10 states at the end of Q2 2022. Gujarat led the list, accounting for 27% of the rooftop solar installations as of June 2022, followed by Maharashtra with 14%, and Rajasthan with 12%. The Top 10 states cover more than 5.83 GW of Solar rooftop installation, while the rest of the states & UT installed 17% of the overall rooftop installations. Rooftop Solar installations will grow exponentially in 2022 as the demand in commercial and industrial are increasing every year.