New leaders emerge in India’s 2022 solar market


From pv magazine India

Avaada Energy emerged as India’s leading utility-scale solar developer by commissioning the most capacity in 2022. It was followed by NTPC Renewable Energy and Adani Green Energy, according to Mercom India’s new India Solar Market Leaderboard 2023 report.

India recorded its highest-ever yearly solar installation of 13 GW in 2022. Utility-scale solar projects accounted for 87% (more than 11 GW) of 13 GW of cumulative installations in 2022, with rooftop solar accounting for around 1.6 GW.

The Mercom report emphasises substantial shifts in the market share of players in 2022, with policies such as basic customs duty on cells and modules and the Approved List of Models and Manufacturers exerting a significant impact. The top ten list welcomed several new companies, demonstrating the dynamic nature of the solar market and the presence of noteworthy market prospects.

According to the report, the top 10 utility-scale project developers took charge of 65% of the installations in 2022.

Tata Power Solar dominated the rooftop solar development sector, capturing nearly 27% of 1.6 GW of rooftop installations in 2022. The combined market share of the top 10 developers accounted for almost 50% of the rooftop solar market during the year.

Sungrow emerged as the leading supplier of string inverters, based on shipment volume, while Fimer India led the way in central inverter supplies.

Jinkosolar emerged as India’s top module supplier in 2022, with Adani Solar being the sole domestic manufacturer among the top five module suppliers.

Scorpius Trackers claimed the top spot as the leading solar tracker supplier.

Author: Uma Gupta

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