India's industrial and commercial rooftop solar capacity will increase by 1.875G

    Recently, the Institute of Energy Economics and Financial Analysis (IEEFA) and JMK Research released a report entitled "Emerging Technology Trends in the Indian C&I Rooftop Solar Market". Among them, it is mentioned that because innovative Household Solar Systems technology solutions will save companies' electricity costs and contribute to the company's renewable energy goals, it is expected that Indian industrial and commercial consumers will increase the speed of rooftop solar capacity this year.

    Vibhuti Garg, IEEFA energy economist and head of India, said that “for consumers who want to optimize electricity costs or increase renewable energy purchases, the use of on-site solar solutions is a low-hanging fruit.” He also said that the spread of the epidemic has increased the already paid higher tariffs, and has aggravated the price sensitivity of industrial and commercial consumers. It is absolutely vital for them to save electricity. Currently, the prices of solar modules and batteries have fallen. With the government’s new production-linked incentive (PLI) plan to promote domestic solar manufacturing, the price of solar technology is expected to fall further. And other factors that promote the adoption of rooftop solar for industrial and commercial consumers are easier financing options and companies that want to switch to 100% renewable energy to meet their RE100 commitments.

    The report stated that India’s Commercial and Industrial (C&I) sector expects 1,875 megawatts (MW) of new capacity to be added to India’s rooftops by 2021, an increase of 47% over the previous year.