Market Size of India Rooftop Solar Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 22.99 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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India Rooftop Solar Market Analysis
The Indian rooftop solar market is estimated to be at 14,845 MW by the end of 2023. It is projected to reach 41,778 MW by 2028, registering a CAGR of over 22.99% during the forecast period.
Over the long term, factors such as increasing demand in the commercial and industrial sectors and government emphasis on renewable energy integration are expected to be significant drivers for the market.
On the other hand, slow-paced installation of rooftop projects may likely restrain the growth of the Indian rooftop solar market over the coming years.
Nevertheless, the untapped solar potential and focus on increasing decentralization would enable residential and industrial customers to rely less on central grids, which is seen as an opportunity during the forecast period.
