July-September saw a 34.7 percent increase in rooftop solar installations to 431 MW: Mercom

Delhi, New: Due in part to a decline in module prices, rooftop solar installations in India increased 34.7% year over year to 431 MW from July to September 2023, according to Mercom India. According to a report by the research firm, during the three months of 2022, the rooftop solar installations amounted to 320 megawatt (MW).

Additionally, 1.3 gigawatt (GW) more rooftop solar capacity was added in the first nine months of 2023 than in January–September 2022 (1.2 GW).
The 'Q3 2023 Mercom India Rooftop Solar Report' stated that as of September 30, 2023, India's total rooftop solar capacity stood at 10.1 gigawatts (GW).

There appears to be a growing trend of rooftop installations. A tipping point in module prices has been reached, leading to more procurement activity and appealing returns on rooftop solar investments. We anticipate two very successful quarters', Mercom Capital Group CEO Raj Prabhu stated.

The residential and commercial and industrial (C&I) market segments accounted for the majority of installations.

The average cost of a rooftop solar system decreased by 13.4% year over year (YoY) and by roughly 5% quarter over quarter during the quarter.

Gujarat maintained its lead in rooftop solar installations, accounting for 26.7% of all installations. Maharashtra and Rajasthan came in second and third, respectively, at 13.5% and 8.3%.

As of September 2023, the top 10 states accounted for about 77% of all rooftop solar installations.