On April 29, 2020 According to Mercom India Research’s ‘India Solar Market Leaderboard 2020’ report, India has installed 7.3 Giga Watt (GW) of solar power in Calendar Year(CY) 2019 which consolidates its position as the 3rd largest solar market in the world after China and U.S.
- India has total solar installations of approximately 35.7 GW by the end of December 2019.
Major highlights of report
i.It reveals that the rapid pace of growth of the solar market has largely been brought about by large players with top 10 companies accounting for 68% market share in 2019. ReNew Power is the top utility-scale developer during 2019, while Azure Power owns the largest project pipeline.
ii.There are around 29 large-scale solar developers with a project pipeline of 100 Mega Watt(MW) or more in India.
iii.Large-scale solar installations in 2019 accounted for 85 % with 6.2 GW. Also, solar accounted for 41% of new power capacity additions in 2019 behind coal which accounted for 44%.
iv.India had a robust pipeline of utility-scale projects under development of 23.7 GW at the end of 2019, with another 31.5 GW of tenders pending auction.
v.Companies’ projects which offer engineering, procurement, construction (EPC) services were moved to 2020 due to delays caused by general elections, land and evacuation issues among others. Mahindra Susten was the top EPC player for utility-scale solar installations in 2019 followed by Larsen & Toubro(L&T).
vi.Tata Power Solar had the largest cumulative rooftop portfolio, followed by CleanMax Solar. At the end of 2019, the top 10 rooftop solar installers represented 34% of the total rooftop solar market share. In 2019, the rooftop solar market growth came down by 33% compared with CY 2018.
vii.Huawei led the solar inverter market in India in 2019, followed by Sungrow. Other top string inverter suppliers are- Growatt, Solis Inverters, and Delta Power Solutions.
viii.At the end of December 2019, Trina Solar is the leading module supplier to India in terms of cumulative shipments & Waaree Energies, Adani, and Risen Energy held the top spot in CY 2019. The top 10 module suppliers accounted for over 62 % of the market in 2019.
ix.Ganges Internationale is the top supplier of solar mounting structures in 2019, followed by Purshotam Profiles and Strolar. Scorpius Trackers is the top supplier of solar trackers in 2019.
x.Rays Power Experts and CleanMax Solar are the top open access developers as of December 2019. Ecoppia is the top supplier of solar robotic cleaning systems as of December 2019
About Mercom India:
Mercom Communications India is a subsidiary of U.S.-based Mercom Capital Group, it is a leading clean energy communications, a consulting firm & is widely recognized for its leadership and influence in helping shape India’s rapidly growing clean energy markets.
Headquarters– Bangalore, Karnataka
Managing Director (MD)– Priya Sanjay
Founder– Raj Prabhu(CEO and co-founder of Mercom Capital Group)