Annual India Solar Report Card: FY2021

Annual India Solar Report Card: FY2021

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Installation trends

  • As of March 31, 2021, about 36 GW of utility-scale solar capacity has been commissioned in India, while another 45 GW is under pipeline.
  • As of March 31, 2021, Karnataka has added a maximum solar capacity of 7.5 GW followed by Rajasthan (5.6 GW) and Andhra Pradesh (4.1 GW).
  • In FY2021, about 3.7 GW of utility-scale solar capacity and another 2.5 GW of rooftop solar capacity were added in India.
  • In FY2021, the top three states where maximum solar capacity was added were Gujarat (944 MW), Uttar Pradesh (570 MW), and Maharashtra (380 MW).
  • For next year i.e. FY2022, about 10 GW of new utility-scale solar projects and 3.2 GW of rooftop/ onsite solar projects are expected to be commissioned. The majority of shipments of modules and inverters were highest in Q1 2021. These projects are now likely to get commissioned in Q2-Q3 2021.

Annual Market shares- FY2021

  • Modules:  Longi, Jinko and Adani were the top three module suppliers in India in FY2021. About 52% of the module shipments in FY2021 are of monocrystalline modules while the balance 48% of multi-crystalline modules.
  • Inverters: Sungrow, Kehua, and Sineng were the leading central inverter suppliers in India in 2020 while Huawei, Sungrow, and Solis were the leading string inverter suppliers in India.
  • Project Developers: Adani, Avaada, and Azure were the top three developers which have commissioned maximum utility-scale solar projects in India in FY2021.
  • Corporate offsite PPA: Amplus, Cleantech Solar, and Avaada were the top three developers that commissioned maximum capacity in FY2021 under the corporate offsite PPA model.
  • Corporate rooftop/ onsite PPA: Amplus, Fourth Partner, and Cleantech Solar were the leading rooftop players (under the OPEX model) in FY2021.
  • Utility-Scale EPC Contractors: Tata Power, Sterling & Wilson, and Vikram Solar were the top three EPC contractors for utility-scale solar projects in India in FY2021.
  • Rooftop EPC Contractors: Tata Power Solar, Mahindra Susten, and Solar square were the top three EPC contractors in rooftop/ onsite solar installations in India in FY 2021.

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