![]() The report adds that the central government’s recent push by launching a single national digital portal to simplify the process of residential rooftop solar installations and formalising a direct benefit transfer mechanism will boost capacity addition. In 2020, the average cost of a residential rooftop solar system in India was $658/kW - 3.3 to 6.4 times less than in leading residential markets such as Japan, the United Kingdom, Switzerland and the USA. Interestingly, while the pace of the solarization of India’s residential segment has been underwhelming, the country has been the world’s least expensive residential solar power market for about a decade. However, post-Covid-19, there has been a strong surge in demand, backed by enhanced consciousness about cost savings, the environment, etc,” said co-author Jyoti Gulia, founder, JMK Research. “The lack of consumer awareness had been one of the major impediments to adoption, especially in the pre-Covid-19 era. The report highlights that there has been a key change brought about in consumer behaviour and demands after Covid-19. It ranked states in their attractiveness for rooftop solar based on their scores across electricity cost savings, net metering favourability, subsidy availability and disbursal, and electricity distribution company (Discom) rating. The report says Gujarat is the most favourable state for rooftop PV installations, followed by Haryana and Maharashtra. ![]() We expect the growth of residential rooftop solar installations to accelerate in the near term across India because of the strong policy push and resurgent market demand,” said report’s co-author Vibhuti Garg, director – South Asia, IEEFA. This shows that the potential for rooftop solar installations in residential spaces is huge in India. “India has more than 300 million households and is endowed with abundant sunshine almost throughout the year, with an annual average of 300 sunny days. The report states the increasing need for cost savings and growing awareness among residential consumers, along with a strong push by the central government, is helping accelerate the pace of rooftop solar installations in India’s residential segment. India’s cumulative residential rooftop solar capacity will reach 3.2 GW by the end of the current fiscal year FY2022-23, nearly a 60% increase from 2 GW as of FY 2021-22 - according to a new report by the Institute for Energy Economics and Financial Analysis (IEEFA) and JMK Research & Analytics.
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