Importance Of Solar Rooftop Panels In Indian Market

Gautam Mohanka, Managing Director, Gautam Solar

India’s ambitious target to have 450 GW of renewable energy by 2030 includes installation of 280 GW of solar power and 140 GW of wind power. For India to meet its solar energy targets, rooftop solar can play a significant role. Recently, several states across the country have been witnessing acute power shortages, primarily due to the disruptions in the supply of coal, spike in the price of imported coal for coastal plants and high prices on the power exchange. To address this deepening power crisis, escalating the manufacturing and installation of rooftop solar can be the best alternative.

The Benefits of Solar Rooftop

In general, a solar rooftop refers to the setting up of solar panels on the top of residential and commercial buildings. The photovoltaics (PV) cells in the panels absorb radiations from the sun and convert them into energy; thereby leading to the creation of electric current. The key advantage of the solar rooftop is that it is less costly compared to conventional sources of electricity.

The solar rooftops have a life expectancy of up to 25 years and require only basic maintenance like cleaning and minor repairs. Furthermore, it takes no additional land as can easily be set up on the roof of a building. Thereby, the solar rooftop plants can not only secure the growing energy needs of the country but also help reduce the overall carbon footprint by providing an alternative to the emission of greenhouse gases.

India’s RE Game

In 2021, India added a record 10 GW of solar energy to its total installed capacity – the highest capacity addition in twelve months, recording nearly a 200 per cent year-on-year growth; bringing India to the third position in the global renewable energy attractive country index. Also, the country has surpassed the installation of 50 GW solar capacity as on 28 February 2022, a significant part of which was solar rooftops.

With the ambition of fast-paced and sustainable economic growth, India has been putting a renewed focus on utility-scale renewable energy projects with innovative and facilitating regulatory approaches which will eventually boost pairing solar with renewable technologies and mass-scale setting up of storage to offer a seamless supply of green power. However, to meet the sustainable targets, certain challenges need to be addressed like fast-paced innovation, strong partnerships, and vast amounts of capital. This will also decrease the heavy import expenditures and open opportunities for increased investments in renewable energy.

Addressing the Challenges

According to experts, a strategic intervention of the government and players in the solar energy sector has the potential to curb the country’s power crisis within just a year. To immediately curb the electricity crisis in the country, there should be a fast-paced installation of renewable energy resources like rooftop solar through strategic actions like steady application of uniform policies for at least the next five years, consistent regulations for net metering and banking facilities, restrictions on banking revoked at least until rooftop targets have been achieved, strict enforcement of the renewable purchase obligation (RPO) by states, and capital subsidy for battery energy storage systems (BESS).

In the rapid transition, the private players have the potential to play a significant role in the core of the renewable energy sector and delivery models by building collaborative partnerships and ensuring inclusive growth by achieving sustainable goals. Market surveys indicate that the private investment opportunities in India are close to a staggering $700 billion.