Accelerated growth in India’s C&I rooftop solar segment is expected in 2021

As per a recent report, the rooftop solar (C&I) segment in India is expected to add 1,875 megawatts (MW) of new capacity in 2021, representing 47 percent growth over 2020.

According to a recent report, the commercial and industrial (C&I) segment will add 1,875 megawatts (MW) of new capacity to India by the end of 2021, an increase of 47 per cent over 2020.

The Institute for Energy Economics and Financial Analysis (IEEFA) and JMK Research have published a report titled, “Emerging technology trends in the C&I rooftop solar market in India.”

The report added that C&I manufacturers in India are expected to add rooftop solar capacity at a faster rate this year on account of new and innovative solar technology solutions available in the market. These innovative solutions enable businesses to save on electricity costs and achieve their corporate renewable energy targets.

Vibhuti Garg, energy economist and lead India, IEEFA stated that consumers who want to optimise their electricity costs or to increase their purchase of renewable power will find onsite solar solutions the best route.

In addition, she noted that the pandemic raised the price sensitivity of C&I consumers who paid high tariffs to cross-subsidise agricultural and residential customers, so saving on electricity costs was very important to them.

With the new Production-Linked Incentive (PLI) scheme designed to boost domestic solar manufacturing, solar technology prices are likely to drop even further, Garg added.

Additionally, the report stated that more affordable financing options and the corporate sector making the switch to 100 percent renewable energy as part of their RE100 commitments will drive the adoption of rooftop solar by consumers in the C&I sector.

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