India added 1.7 gigawatts (GW) of rooftop solar capacity in calendar year (CY) 2023, representing a 3.7% increase from the previous year.
That’s according to the newly released Mercom India Rooftop Solar Market Report, which suggests residential installations emerged as the primary contributor to this growth, although commercial and industrial consumers exhibited cautious investment behaviour.
Rooftop solar tenders experienced a decline in 2023, yet Gujarat emerged as a frontrunner in Q4 installations, contributing 42.6% of the quarter’s capacity.
The average cost of rooftop solar systems continued its downward trend, falling by 10% quarter-over-quarter and 21.6% year-over-year.
