India's Rooftop Solar Capacity Sees Major Growth in 2024

India experienced significant growth in its rooftop solar capacity in the first half of 2024, adding 1.1 GW, a 26% increase from the previous year. Key segments, including industrial, commercial, and government, contributed to these gains. However, challenges like module availability and escalating costs remain.

India has seen a substantial rise in rooftop solar installation, adding 1.1 GW in the first half of 2024. This reflects a 26 percent year-on-year increase from 873 MW during the same period last year, according to Mercom Capital Group.

In the second quarter alone, 731 MW of new installations marked an 89 percent rise from 388 MW in April-June last year. The 'India Rooftop Solar Market Report' highlighted that cumulative installed rooftop solar capacity in India reached 11.6 GW by June 2024.

The industrial sector led with 23 percent of quarterly installations, while commercial and government segments contributed 4 percent and 0.7 percent, respectively. According to Raj Prabhu, CEO of Mercom Capital Group, the growth is driven by initiatives like PM Surya Ghar: Muft Bijli Yojana. However, issues such as module availability and rising costs could pose future challenges.

(With inputs from agencies.)