Drop in capacity additions was a result of increased project extensions

May 28, 2023 – India added 1.9 GW of solar capacity in the first quarter (Q1) of calendar year (CY) 2023, a 30% decrease compared to the 2.7 GW installed in Q4 2022. The number represents a 48% decrease year-over-year (YoY) when compared to the 3.6 GW added in Q1 2022, according to the newly released Q1 2023 India Solar Market Update by Mercom India Research.

India installed 1.4 GW of large-scale solar in Q1 2023, a 37% quarterly decrease and a 56% YoY decline.

Large-scale solar accounted for 74% of installations, with rooftop solar making up an additional 26%.

India’s cumulative installed solar capacity now stands at 64.5 GW.

As of March 2023, the country’s utility-scale project development pipeline stood at 58 GW, with an additional 58 GW of projects tendered awaiting auction.

India’s solar industry passed an important milestone in 2022, setting a new record with 13 GW of capacity added. But additions are expected to be lower in 2023 as commissioning deadlines for several projects have been moved to next year. Besides projects stuck in the habitat of the Great Indian Bustard, an increasing number of projects are facing delays due to land and transmission issues.

“The market is re-calibrating following the ALMM decision by the government. Project extensions, GIB, and infrastructure issues point to a softer year than predicted. On a positive note, module prices are trending in the right direction, and project costs declined for the first time after rising for ten consecutive quarters, bringing much needed relief to the solar industry,” said Raj Prabhu, CEO of Mercom Capital Group.

In Q1 2023, Rajasthan and Karnataka were the top states for solar, accounting for 42% and 21% of installations, respectively. Gujarat came in third with 19%.

Rajasthan led all states with 16 GW of cumulative large-scale solar installations at the end of Q1 2023, accounting for over 29%.

Multiple implementing agencies announced 13.8 GW of tenders in Q1 2023, an increase of 172% YoY compared to 5.1 GW announced in Q1 2022. The tender activity was up 43% quarter-on-quarter.

In Q1 2023, India added 4.1 GW of new power capacity, with solar accounting for over 45% of the total.

Key Highlights from Mercom India Research’s Q1 2023 India Solar Market Update:

• In Q1 2023, India added 1.9 GW of solar capacity, a 30% decline compared to the 2.7 GW installed in Q4 2022.
• Large-scale solar accounted for 74% of the installations, and rooftop solar for the remaining 26%.
• India’s cumulative installed solar capacity now stands at 64.5 GW.
• In Q1 2023, renewable energy sources accounted for around 41% of the country’s power mix.
• Solar accounted for over 45% of new power capacity added during the quarter.
• In Q1 2023, Rajasthan and Karnataka were the top states for solar installations. Mercom’s India Solar Q1 2023 report is 78 pages and covers all facets of India’s solar market. For the complete report, visit:  https://mercomindia.com/product/q1-2023-india-solar-market-update About Mercom IndiaMercom India (formerly Mercom Communications India), a subsidiary of U.S.-based Mercom Capital Group, is a clean energy research and communications firm in India recognized worldwide for its expertise in Indian cleantech markets. Located in Bangalore, India, Mercom has been providing communications and research services across India for clean energy organizations since early 2009. For more information, visit: https://www.mercomindia.com

New Delhi, 24^th May 2023 Super4, ‘India Ka Apna Gaming App’ and a growing player in the gaming sector, has announced today the launch of its highly anticipated iOS version, expanding its availability beyond Android devices. With this expansion, Super4 is poised to bring an unparalleled entertainment experience to a broader user base.

Super4 has established itself as a premier destination for online gaming. With its user-friendly interface and high-quality streaming capabilities, the platform has garnered a loyal following of Android users. Now, Super4 is thrilled to extend its services to iOS users, ensuring a seamless and immersive entertainment experience across both major mobile operating systems.

Super4 has already garnered a significant following among Android users, offering a diverse range of games and engaging gameplay. The platform’s expansion to iOS devices is a testament to its commitment to delivering an exceptional gaming experience to a broader user base.

Key Features of the Super4 Gaming App:

Real-time Matches: Users can join live matches and experience the thrill of real-time gaming, making strategic decisions and earning points based on players’ performances.

Easy Team Creation: With an intuitive interface, users can create their dream teams by selecting players from various teams and leagues, showcasing their sports knowledge and managerial skills.

Secure and Reliable: The Super4 app ensures the highest level of data security and reliability, giving users peace of mind while participating in fantasy gaming.

Exciting Rewards: Users have the opportunity to win exciting rewards, including cash prizes, unique experiences, and enhancing the thrill of competition.

Mr. Rohit Bansal, Founder, Super4 said, “We are thrilled to extend the Super4 experience to iOS users. Our gaming platform has already gained immense popularity among Android users, and we are excited to provide iOS users with the same level of excitement and engagement. With the launch of the iOS version, we aim to become the go-to destination for gaming enthusiasts across different mobile platforms.”

The Super4 Gaming app is now available for download on the App Store for iOS (https://apps.apple.com/app/super4/id1619617197) users and Android User as well.

The Super4 app allows cricket fans and enthusiasts in India to create fantasy teams before a match starts, but it

sets itself apart by providing India’s first-ever cricket scoreboard. Fans can earn points by creating their

own scoreboard for the first innings before a match starts. At the end of the match, the players win

prizes according to the points they have earned.

For more information about Super4 and its fantasy gaming offerings, please visit https://super4.in.

About Super4

Super4 “India Ka Apna Gaming App” was founded by Mr. Rohit Bansal in March 2022. The Super4 app allows cricket fans and enthusiasts across India to create teams prior to the start of a match but unlike

other apps, Super4 provides fans with India’s first-ever Cricket scorecard empowering fans to create

scoreboards in the first innings after a progressive self-study of the pitch and the match

conditions. A player can create multiple scoreboards for each match. The closer the scoreboard is to the actual score, the more points a player earns. Every contest has multiple winner ranks. At the end of the contest, the prizes are distributed among the players as per their ranks.

National, 15^th May 2023: Sudha Numac Games Pvt. Ltd. has recently launched its brand winx11, providing its users with the ultimate unique experience. Winx11 comes up with a revolutionary new platform for fantasy sports enthusiasts with an energetic Tagline – “Ab Jeet Pakki Hai”. The tagline itself depicts the focus of brand on ensuring more players to win.

The newly launched platform has a fully-featured application offering a variety of contests and gameplay options that cater to players of all levels. One of the most exciting contests is the Rookie Contest, designed for beginners who are new to the world of fantasy sports. With this contest, users can compete with others with similar skill sets and gain confidence while getting started.

Winx11 also offers other exciting contests, including Mega Contest, H2H Challenge Contest, and Guaranteed Contest, where every user is guaranteed a cash prize. For a more private experience, Winx11’s Private Contest feature allows users to create their own contests and invite friends to compete. With its easy-to-use interface, Winx11 makes it easier than ever to join the action and start winning big. The app offers a variety of rewards for players, including cash prizes and gift vouchers. Players also receive a sign-up bonus of Rs. 100 when they join.

With the ongoing 16^th Edition of the Indian Premier League, the launch of Winx11 makes it even more exciting for fantasy sports fans. Within a short period of time, there has been a solid growth of the over 5000 active users on the platform. The app has additionally garnered positive reviews from several users and app visitors, and the constant increase in registered and active users shows the likelihood of the app’s success.

Winx11’s credibility among its users is also boosted by its instant withdrawals, best affiliate and referral program, and secure gameplay. The app features Stock Fantasy with live fantasy, exciting coin games built for engagement beyond fantasy, daily quizzes, leaderboards, and rookie contests.

Mr. Sunil Gulia, Founder, Sudha Numac Games Pvt Ltd on the launch of Winx11 said“Our mission at Winx11 is to revolutionize the fantasy sports industry by providing our users with the ultimate gaming experience, compete with exciting contests, easy-to-use interface, and numerous opportunities to win big. With our innovative features like Stock Fantasy and Coins Games, we are not just limited to fantasy sports but provide an engaging and interactive platform for users beyond the sport. Our constant focus on user satisfaction and engagement is what sets us apart from the competition.”

For those who love the thrill of the stock market, Winx11 offers a Stock Fantasy feature where users can trade virtual cash and earn rewards based on their portfolio performance. This feature also provides an opportunity for users to learn about the stock market and become confident before investing in the real market.

With its focus on engaging users beyond fantasy, Winx11 provides various coin games that users can play to earn coins. These coins can be redeemed for real cash later, and users can earn them by playing prediction games, quizzes, and spin & earn, or by referring friends to the app.

The Winx11 leaderboard allows users to track their progress and compete against other players for the top spot, earning big rewards based on their position.

Link to the app: – https://play.google.com/store/apps/details?id=com.winx11.game              

ISO/IEC 17025:2017 demonstrates technical competence within a defined scope for the operation of laboratory management systems

Mumbai – May 15, 2023 – GIA India has successfully been granted the International Organization for Standardization/International Electrotechnical Commission (ISO/IEC) 17025:2017 certification for the operations of its grading laboratories in Mumbai and Surat. The ISO/IEC 17025:2017 demonstrates technical competence within a defined scope for the operation of laboratory management systems.

GIA India successfully completed the accreditation in accordance with ISO/IEC 17025:2017 through a third-party accreditation board, the ANSI National Accreditation Board (ANAB). The ISO 17025 standard specifies the general requirements for competence, impartiality, and consistent operation of laboratories.

Fredy Hansotia, Senior Director – Laboratory Operations, GIA India, said, “ISO is one of the most rigorous and well-regarded standards in the world. Being granted the ISO/IEC 17025:2017 certification demonstrates our continuous commitment to provide the highest recognised quality in laboratory operations to deliver consistent, reliable, and precise results, based on GIA’s globally recognised diamond grading standards, to protect consumers and meet the needs of our clients.”

Sriram Natarajan, Managing Director of GIA India, said, “As the creators of the 4Cs of diamond quality and the International Diamond Grading SystemÔ, GIA has been at the forefront of developing and maintaining global standards for diamond grading. The ISO/IEC 17025:2017 certification underpins the integrity of GIA reports, the trust that the industry and the public place in them.”

For press inquiries, please contact Shivprasad Hiremath at shivprasad.hiremath@gia.edu.

About GIA India

GIA India Laboratory Pvt. Ltd. (‘GIA India’) is an independent subsidiary of the Gemological Institute of America, Inc. (‘GIA’). Established in 1931, GIA is recognised as the world’s foremost authority in gemmology. GIA invented the famous 4Cs of Color, Clarity, Cut and Carat Weight and, in 1953, created the International Diamond Grading System™ which is recognised around the world as the standard for diamond quality.

Through research, education, gemmological laboratory services and instrument development, the Institute is dedicated to ensuring the public trust in gems and jewellery by upholding the highest standards of integrity, academics, science and professionalism. All of GIA’s activities are governed by its mission to serve the public. Visit GIA.edu or GIAindia.in.

8 out of 10 categories saw new leaders emerge

May 15, 2023 – Mercom India, a subsidiary of global clean energy communications and consulting firm Mercom Capital Group, has released its report, India Solar Market Leaderboard 2023. The report covers market share rankings and provides a comprehensive view of the competitive landscape across the Indian solar supply chain in the calendar year (CY) 2022.

The report highlights significant changes in market share in a year heavily impacted by policies like Basic Customs Duty and Approved List of Models and Manufacturers. Several new companies made the top ten list for the first time, reflecting a dynamic solar market with significant market opportunities. With domestic manufacturing receiving a strong push from the Production-Linked Incentive program, we anticipate the emergence of more new leaders in 2023.

India added 13 GW of solar capacity in CY 2022, a ~27% increase from the ~10 GW installed in CY 2021. India aims to install 280 GW of solar by 2030. Cumulative solar installations currently stand at nearly 63 GW.

India had a 58 GW utility-scale solar project development pipeline and 51 GW of projects tendered and pending auction, as of December 2022.

The report reveals that Avaada Energy was the leading utility-scale solar developer commissioning the most projects during the year, followed by NTPC Renewable Energy and Adani Green Energy. The top ten utility-scale project developers accounted for 65% of projects installed in 2022.

In 2022, utility-scale installations accounted for over 87% of overall solar installations, with over 11 GW. Solar accounted for nearly 82% of the total power capacity additions in CY 2022, the highest ever for any year.

In 2022, over 1.6 GW of rooftop solar capacity was added. Tata Power Solar led the list of rooftop solar developers, accounting for almost 27% of total installations. In 2022, the top ten developers accounted for nearly 50% of the rooftop solar market.

Companies offering solar engineering, procurement, and construction (EPC) services commissioned a significant number of projects in 2022 that were scheduled to be commissioned the previous year. Tata Power Solar topped the list of EPC providers during the year, followed by Vikram Solar and Bharat Heavy Electricals.

Sungrow was the top solar inverter supplier in 2022 and also the top string inverter supplier. FIMER India was the leading central inverter supplier.

Jinko Solar was India’s leading module supplier in 2022. Adani Solar was the only domestic manufacturer that made it to the top five.

Scorpius Trackers was the top supplier of solar trackers during the year.

Purshotam Profiles topped the list of solar module mounting structure suppliers in 2022, accounting for over 38% of the total market. Goodluck India and Strolar Mounting Systems came in second and third for module mounting structure suppliers.

In 2022, 2.5 GW of open access solar capacity was added, up 92% compared to 2021. ReNew was the top open access installer during the year.

Solabot Technologies was the top supplier of solar robotic cleaning systems to the Indian market in 2022.

The report covers the market landscape across the entire supply chain, including profiles of market leaders, installation and supply data, along with ranking changes year-over-year. Market share data for 2022 as well as cumulative figures are included in the report.

For the detailed and comprehensive report, click here.

Follow Mercom India on Twitter, Facebook, and LinkedIn

About Mercom India

Mercom India (formerly Mercom Communications India), a subsidiary of U.S.-based Mercom Capital Group, is a clean energy research and communications firm in India recognized worldwide for its expertise in Indian cleantech markets. Located in Bangalore, India, Mercom has been providing communications and research services across India for clean energy organizations since early 2009. For more information, visit: https://www.mercomindia.com

New Delhi, 26^th April 2023 Super4, ‘India Ka Apna Gaming App’ and a growing player in the fantasy gaming sector, has announced today that they have been recognized as one of the most trusted companies to watch in 2023 by Innovative Zone magazine. This recognition is a testament to the hard work and dedication of the entire Super4 team, who have tirelessly worked to make Super4 a success as a fantasy gaming app.

Renowned for its comprehensive market trend research and recognition of companies that excel in innovation, growth, and customer satisfaction, Innovative Zone magazine has acknowledged Super4 as one such company that has successfully achieved all three of these critical metrics.

On reaching this milestone, Rohit Bansal, Founder & Director, Super4 said, “We are thrilled to be recognized by Innovative Zone magazine as one of the most trusted companies to watch in 2023. This recognition reflects our commitment to excellence and dedication to providing exceptional service to our customers.”

Super4 has been successful in achieving its growth goals by offering innovative solutions to meet the needs of its customers. Within a short span of six months, Super4 has managed to grow exponentially and with a user base of over 5 lac customers, the brand plans to expand its footprints in India by acquiring customers and bringing out new and interesting online games on their Super4 application for the fans and enthusiasts across India.

The Super4 app allows cricket fans and enthusiasts in India to create teams before a match starts, but it sets itself apart by providing India’s first-ever cricket scoreboard. Fans can earn points by creating their own scoreboard for the first innings before a match starts. At the end of the match, the players win prizes according to their ranks on the leaderboard.

About Super4

Super4 “India Ka Apna Gaming App” was founded by Mr. Rohit Bansal in March 2022. The Super4 app allows cricket fans and enthusiasts across India to create teams prior to the start of a match but unlike other apps, Super4 provides fans with India’s first-ever Cricket scorecard empowering fans to create fantasy scoreboards in the first innings after a progressive self-study of the pitch and the match conditions. The users can collect maximum points from the first innings to increase their numbers on the leaderboard and win prizes.

 

The Lucky winners to gets a chance to watch the IPL Eliminators/Semi-finals for Free

National, 30th March 2023: Super4, ‘India Ka Apna Gaming App’ and a growing player in the fantasy gaming sector, has announced today the launch of their #IPL2023 contest for the existing and prospective customers in light of the upcoming 16^th edition of the TATA IPL 2023. The Super4 IPL 2023 carnival is scheduled to run from 1^st April to 15^th May 2023.

Super4, a leader in the fantasy gaming sector, will provide the existing and new users with a unique platform to play and earn through their Super4 app. The Super4 IPL bonanza will have two offers, the first one running from 1^st to 7^th April where the user will be given a chance to participate in contests for free and yet have the opportunity to earn huge cash rewards.

The second contest starting from 1^st April for the next 45 days will give the existing as well as the new users to play contests and collect super coins. All users that earns 1 lac super coins during these 45 days will be given a once in a lifetime opportunity to attend IPL Eliminator rounds or IPL Semi-finals for free.

The “India Jeetega” campaign aims to encourage fans to support their favorite teams while promoting a spirit of sportsmanship and camaraderie among all. With the IPL set to start on March 31st, 2023, the campaign is poised to capture the nation’s imagination and bring everyone together in celebration.

Mr. Rohit Bansal, Founder, Super4 said, “We are excited to come up with our IPL23 contests to attract users and give them a once in a lifetime opportunity to attend the IPL Eliminators and Semi-Finals. Cricket is a religion in India and we strongly believe that through these contests, we will be able to fulfill a cricket fan dream to watch a match live in the stadium. We at Super4 are very excited for the upcoming season and we will do our best to help the fans and enthusiasts with the best possible gaming experience”

Seeing the growth and passion for cricket in India, Super4 plans to penetrate further into the Tier II & Tier III market and give a once in a lifetime opportunity to fans and enthusiasts in these markets to watch a match live. Something that they could just dream off, could be possible with a click on the Super4 App. The brand offers unutilized money on collection of super coins. The players can utilize this money to play games on the platform.

Within a short span of six months Super4 has managed to grow exponentially and with a user base of over 5 lac customers, the brand plans to expand its footprints in India by acquiring customers and bringing out new and interesting online games on their Super4 2.0 applications for the fans and enthusiasts across India.

The Super4 app allows cricket fans and enthusiasts in India to create teams before a match starts, but it sets itself apart by providing India’s first-ever cricket scoreboard. Fans can earn points by creating their own scoreboard for first innings before a match starts. At the end of the match, the players win prizes according to their ranks on the leaderboard.

About Super4

Super4 “India Ka Apna Gaming App” was founded by Mr. Rohit Bansal in March 2022. The Super4 app allows cricket fans and enthusiasts across India to create teams prior to the start of a match but unlike other promising apps, Super4 provides fans with India’s first-ever Cricket scorecard empowering fans to create fantasy scoreboards in the first innings after a progressive self-study of the pitch and the match conditions. The users can collect maximum points from the first innings to increase their numbers on the leaderboard and win prizes.

Highest recorded capacity additions in a single calendar year

March 19, 2022 – Bengaluru, India – In calendar (CY) 2022, India added 2.5 gigawatts (GW) of solar open access, an increase of 92% compared to the 1.3 GW installed in 2021. This was the highest record of annual installations, according to the newly released report: 2022 Q4 & Annual Mercom India Solar Open Access Market Report.

Installations reached an all-time high in 2022 as various organizations and developers rushed to finish projects before Basic Customs Duty (BCD) and Approved List of Models and Manufacturers (ALMM) regulations were enacted. Commissioning of projects delayed during the COVID-19 pandemic also added to the total.

In 2022, Karnataka added the most solar open access capacity, followed by Maharashtra and Tamil Nadu. The top five states comprised 77% of total installations during the year.

India added 293 MW of solar open access capacity in Q4 2022, down 52% quarter-over-quarter (QoQ) compared to 615 MW installed in Q3 2022. Quarterly installations were down almost 10% year-over-year (YoY).

The top five states contributed over 96% of all open access installations in Q4 2022. Karnataka remained the leading state, accounting for over 32% of capacity addition in the quarter.

As of December 2022, the cumulative installed solar open access capacity reached 7.7 GW.

The development pipeline of solar open access projects in the country was 6.6 GW as of Q4 2022 – almost 70% of the pipeline was spread across – Andhra Pradesh, Rajasthan, Karnataka, Maharashtra, and Gujarat.

As of December 2022, Karnataka remained the top state, accounting for almost 36% of cumulative solar open access capacity. Maharashtra followed, making up over 12% of the total installations.

In short-term markets, Andhra Pradesh was the largest electricity supplier in the Green Day-Ahead Market (G-DAM), accounting for over 40% of the market in Q3 2022.

Gujarat became the leading energy procurer from G-DAM, followed by Maharashtra, representing 14.6% and 12.5%, respectively, of the total power purchased in Q3 2022.

During Q4, the Delhi High Court suspended trading of renewable energy certificates issued before October 31, 2022, for six weeks, adversely impacting trading.

“Solar installations in the open access segment outpaced regulatory challenges and recorded the best year-to-date, despite the odds. Overwhelming growth reflects demand by the industries and commercial units keen on sourcing clean power and capitalizing on the economic benefits. Though the government has announced that consumers with a sanctioned load of 100 kW or more are eligible to source green power through open access, consumers below 1 MW demand remain largely underserved and an untapped market,” commented Priya Sanjay, Managing Director at Mercom India.

The report offers a detailed analysis of the solar open access segment in seventeen states, including open access charges, retail supply tariffs, and market size.

The average PPA prices, net landed costs, banking regulations, short-term transactions, and open access policies and regulations released in Q4 2022 are also featured in the report.

The report also highlights the views and opinions of the top open access installers nationwide during the quarter.Key Highlights from Mercom India Research’s 2022 Q4& Annual India Solar Open Access Market Report

• In 2022, India added about 2.5 GW of solar open access, a YoY increase of 92%
• In Q4, 293 MW of solar open access was added, down 52% QoQ and almost 10% YoY
• Karnataka was the leading state, with 94 MW added in Q4 2022
• Tamil Nadu and Maharashtra ranked second and third making up around 22% and 21% of total installations in Q4 of 2022
• As of December 2022, the total installed solar open access capacity was over 7.7 GW
• The top five states account for 73% of cumulative solar open access installations
• The pipeline of solar open access projects was over 6.6 GW

The “2022 Q4 & Annual Mercom India Solar Open Access Market Report” report is 79 pages and covers vital information and data on the market. For the complete report, visit: https://mercomindia.com/product/india-solar-open-access-market-report-q4-2022/

About Mercom India

Mercom India (formerly Mercom Communications India), a U.S.-based Mercom Capital Group subsidiary, is a clean energy research and communications firm in India recognized worldwide for its expertise in Indian cleantech markets. Located in Bangalore, India, Mercom has been providing communications and research services across India for clean energy organizations since early 2009. For more information, visit: https://mercomindia.com

Gagan represents the new India. The India that is moving from being job seekers to job givers. And, we need more enterprising entrepreneurs like Gagan to meet the growing demands of India, a country that is poised to be one of the largest economies in the world. Story of Gagan has all the masala of a Bollywood blockbuster, as his struggles are the struggles of every person who chooses a different path – with courage, conviction and faith.

Gagan spoke to our correspondent and here are points discussed in detail:     

How did you become an entrepreneur and how has been the journey so far?  

There was a lot of hesitation before starting my own Venture, it was a long journey which time and again pushed me to do something remarkable, I started my career in 1991 with some part time jobs along with studies. Those were the days of 386 & 486 no network but still a lot to learn, worked with a Book Publisher as Data Entry and designing, slowly I was put in the field to interact with Clients generating New Business and building new relationships. I loved being in the field most of the time meeting different people from across industry from Government and Private Industries. Worked with RPG Ricoh in Store keeper handling spares for Copiers and Fax. Being the youngest in the Team of 18 engineers and others I was always taught and encouraged by them, keeping myself highly motivated with a go-getter attitude. Then came the revolution in Telecom and I joined a distributor for sales of Mobiles and Pagers. Everything was going so fast in life, there was huge demand in the business, I was more of a Sales guy but destiny pushed me to the Credit and Collection role in Banking sector that was another journey toward success. After half a decade in that I was sitting with a Senior Banker and over a chat he asked me what I am doing in Credit & Collection, I replied, I am a hardcore sales guy generating new business for my company, the day I stopped would be my last. He agreed but said why for others why not for your own self you had enough experience and that awaken me, started my own Agency for multiple banks in West Bengal but still it seems that there is no innovation and nothing new it’s all the same routine, and a year later I was trying my luck in Advertising Industry, Trailblazerr Consultant started in 2012 our first Campaign was for a leading Zee News a Studio on wheels was made on a Volvo Bus, then Emami, Ford, Coke, ITC, Pizza Hut, IPL, Radio City and ball started rolling with no looking back. I believe every day starts with new opportunities, new challenges and new learning. Starting a Business is not that easy, people took their whole life for taking this decision, I was lucky to have mentors, friends, families and colleagues who supported me and always wished me for my success.

What is your vision for your business?  

When we started this business, I thought of keeping 1-2 products but today after over a decade our clients Trust and demand pushed us to work on customised solutions doing a lot of in-house production, we have already expanded vertically but it’s time to increase clientele making our team stronger by adding more hands to it. Taking it to the overseas market, where as we have already done some projects but still too few to mention.

How do you stay updated with the latest in the business?

Networking increases your bandwidth & leading your team from front on every project irrelevant of its ticket size gives you more knowledge every time you do it, it gives you on ground experience new techs, qualities and fulfilling requirements of your clients. This in return also helps you get updated with what is going both online and offline.

What do you think is the role of MSMEs in the country’s GDP and progress?  

MSME’s have been the Lifeline of Economy in India. This sector draws significant importance in terms of employment, production, income and export. Being a labour-intensive sector and creating large employment opportunities in India.  

Advice to the aspiring entrepreneurs that you want to give? 

Everyone wants to do Business as that gives you more Power, Money and a free hand, but one should attain that maturity to start it, as starting Business without experience and mentors is only for those who are lucky enough. I think reaching an age and attaining knowledge, building a strong network will make you take this hard decision changing your life. You may not need much of investment if you are strong in all these, this will reduce your risk of financial losses too.

Top 10 states accounted for over 85% of installations

Mar. 01, 2022 – Bengaluru – In calendar year (CY) 2022, India added 1.6 GW of rooftop solar, down almost 4% compared to 1.7 GW installed in 2021, according to the newly released report, 2022 Q4 & Annual Mercom India Rooftop Solar Market Report, by Mercom India Research.

In the fourth quarter (Q4) of 2022, 483 megawatts (MW) of rooftop solar was added, almost a 51% increase quarter-over-quarter (QoQ). Installations were up 20% year-over-year (YoY).

About 42% of installations during the year were in the industrial segment, while residential, commercial, and government represented 32%, 25%, and 1%, respectively.

“2022 was a lost opportunity for the rooftop solar market in India, affected by policy challenges restricting supply and impacting the cost of modules. Despite the hurdles, installations were almost on pace with the previous year. Strong fundamentals continued to drive installations in the commercial and industrial segments. We expect growth to resume in 2023 as pricing and supply challenges moderate,” said Raj Prabhu, CEO of Mercom Capital Group.

According to the report, cumulative rooftop solar installations reached almost 8.8 GW as of December 2022.

The Central Government implemented significant policy changes in the sector during the year, including Basic Customs Duty (BCD) implementation and the Approved List of Models & Manufacturers (ALMM) mandate for rooftop solar projects. These policies added to the volatility in solar module prices and supply in the market. Installations may have been higher if project costs hadn’t surged after the BCD and if installers had clarity about grid-connected rooftop solar projects requiring ALMM-enlisted modules, noted the report.

According to the report, the average rooftop solar system costs fell marginally by 0.4% compared to Q3 2022 but were up almost 13% YoY.

In 2022, over 2 GW of rooftop solar tenders were issued, a 90% increase YoY. The Madhya Gujarat Vij Company contributed to almost 47% of announced tenders, and government agencies in states like Madhya Pradesh, Rajasthan, Uttar Pradesh, and Telangana accounted for 23% of the tenders issued during the year.

According to the report, DISCOMs issued empanelment tenders in Kerala, Punjab, Gujarat, Uttar Pradesh, Madhya Pradesh, Telangana, and Karnataka under Phase II of the Ministry of New and Renewable Energy’s rooftop solar program in 2022.

Gujarat remained the top market, accounting for 24% of cumulative solar rooftop installations, followed by Maharashtra and Rajasthan, with 14% and 9%, respectively. The top 10 states accounted for approximately 74% of cumulative rooftop solar installations as of December 2022 and over 85% of capacity added in 2022.

Between Q4 2021 and Q4 2022, Kerala recorded the highest compounded growth at 19%, followed by Maharashtra and Andhra Pradesh.

A comprehensive analysis of net metering policies across all Indian states and Union Territories is also included in the report.

Key Highlights from the 2022 Q4 & Annual Mercom India Rooftop Solar Market Report

• In 2022, India added over 1.6 GW of rooftop solar capacity
• The top 10 states accounted for over 85% of rooftop solar installations in 2022
• In Q4, 56% of rooftop solar installations came from the residential segment, while 28% and 15% came from industrial and commercial segments, respectively
• Rooftop solar system costs during the quarter increased by almost 13% YoY
• Cumulative rooftop solar installations reached almost 8.8 GW as of December 2022
• Gujarat was the top state cumulatively for rooftop solar installations, followed by Maharashtra and Rajasthan

The 2022 Q4 & Annual Mercom India Rooftop Solar Report is 60 pages and covers all facets of India’s rooftop solar market. For the complete report, visit:  https://mercomindia.com/product/rooftop-solar-market-report-q4-2022

About Mercom India

Mercom India Private Limited (formerly Mercom Communications India Private Limited), a subsidiary of U.S.-based Mercom Capital Group, is a clean energy research and communications firm in India recognized worldwide for its expertise in Indian cleantech markets. Located in Bangalore, India, Mercom has been providing communications and research services across India for clean energy organizations since early 2009. For more information, visit: https://mercomindia.com

About Mercom India Rooftop Solar Market Report

Mercom’s India Rooftop Solar Market Quarterly Report is the most in-depth and accurate report available on the state of the Indian Rooftop Solar Market. The report covers the entire rooftop solar market, pricing, policies, and forecast that will help companies navigate the challenges as well as take advantage of opportunities in the market. For more information visit: https://mercomindia.com/research/