INDIA SOLARROOFTOPMAP 2019MARCH

365 72 266 27

154851652

53182510

277

128

39206

12

372211 4

3312

165

2012 2

6

618 39 466 112

5315

18 20

393 42 288 64

29 9

21 12

3

6

11311

35 67

229 25 139 65

179

13568 2542

314 50 229 35

298 46 160 92

258101 96 62

Manipur, Assam, Meghalaya,Tripura, Mizoram, Nagaland,Sikkim, Arunachal pradesh

Puducherry, Dadra & Nagar Haveli,Goa, Daman & Diu, Lakshadweep,Andaman & Nicobar Islands, Himachal Pradesh

7515 31 29

Others

Jammu & Kashmir

Kerala

Maharashtra

Rajasthan

Haryana

Punjab

Chandigarh

Uttarakhand

Delhi

Jharkhand

Bihar

Chhattisgarh

Odisha

Andhra Pradesh

Tamil Nadu

Telangana

North East

Gujarat

Karnataka

Uttar Pradesh

West Bengal

Madhya Pradesh123 25 77 21

118 34 55 29

614

Growth rate of rooftop solar in last 3 years

Very high High Medium Low Very low

EPC contractorsMarket size - 1,836 MW

Annual market share1Capacity installed in FY 2019 (1,836 MW)

Inverter suppliersMarket size - 1,836 MW

Project developersMarket size - 688 MW

www.bridgetoindia.com

All figures in MW

Commercial Industrial Residential

OPEX² CAPEX²

Public sector

Total installed capacity: 4,375 MW¹as on March 31, 2019

926

1,320 3,055

2,140 619 690

8 MW

13.1

9% C

LEAN

TECH

SOL

AR

12.81% FOURTH PARTNER

9.37% CLEANMAX

8.72% AZURE

6.25% SU

NSOU

RCE

REN

EW P

OW

ER 4

.49%

AMPL

US 4

.10%

TEPS

OL 1.

80%

JAKSO

N 1.06

%

ORB ENERGY 0.92

%

TATA POWER SOLAR 0.90%

HINDUJA 0.73%

HFM SOLAR 0.41%

HERO FUTURE 0.37%

AMP SOLAR 0.26%

MAHINDRA SUSTEN 0.12%ADDWATT 0.07%

OTHERS 34.43%

Exclusive lead sponsor Associate sponsors

FY 2019 installation by other EPC contractors using GoodWe inverters in the state

11.11% SOLIS

10.35% ABB

10.02% SU

NGROW

8.88

%

SMA (INCL ZEVER) 8

.71%

GROWATT 8.17%

K-STAR 4.96%

SOLAREDGE 3.54%

HUAWEI 3.32%

INGETEAM 2.67%

FRONIUS 2.12%

STATCON EN

ERGIAA 1.58%

CONSU

L NEOW

ATT 1.58%POW

ER ON

E 1.36%

KACO

1.03%EN

ERTECH

0.71%H

AVELLS 0.27%O

THER

S 0.54%

19.06

% D

ELTA

4.35

% T

ATA

POW

ER S

OLA

R1.

49%

PRO

ZEAL

INFR

A1.

37%

SUN

SURE

1.36

% S

UNSH

OT

1.30%

FOU

RTH P

ARTN

ER

1.28%

BEL

ECTR

IC

1.25%

BOSCH

1.23% ORB ENERGY

1.09% SOLAR SQUARE

1.06% MAHINDRA SUSTEN

1.04% STERLING & WILSON

0.93% VIKRAM SOLAR

0.67% SUNSOURCE

0.57% SURE ENERGY

0.54% HAVELLS

0.52% TORP SYSTEMS

0.51% HARSHA ABAKUS

0.42% MADHAV INFRA

0.39% SURYADAY0.39% THERMAX 0.33% OV ENERGY0.32% SWELECT0.29% ENERPARC 0.26% JAKSON 0.26% ASUN

19.10% SELF-EPC BY

PROJECT DEVELOPERS

OTHERS 57.67%

66 85 29

6 MW

14 MW 10 MW

11 MW

6 MW

7 MW

19 MW

13 MW

18 MW

15 MW

FY 2019 installation by Tata Power Solar as EPC contractor using GoodWe inverters in the state

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Estimating Cost of Capital for Indian Solar Projects

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India RE Weekly

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India RE Policy Brief & India RE Market Brief

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INDIA SOLARROOFTOPMAP 2019MARCH

Installed capacity as on March 31, 2019

4,375 MW

Capacity addtion in key states, MW3

Notes:

1. Methodology

BRIDGE TO INDIA has conducted an extensive data collection exercise and relied on multiple market sources including project developers, equipment suppliers and state nodal agencies to provide accurate, factual information as far as possible. Some suppliers were either unreachable or did not validate the data available with us. All data has been cross-referenced with data provided by government departments and other market players, where possible. However, we do not guarantee completeness or accuracy of any information.

We have classified all onsite solar systems (including any ground-based systems) as rooftop systems.

2. OPEX (operating expenditure)-based systems are owned and installed by third-party investors at consumer premises. CAPEX (capital expenditure)-based systems are financed and owned by the consumers.

3. This chart excludes residential consumer segment data.

Split of capacity addition by system size, MW

OPEX model market share2

YoY share of OPEX model has increased from 3% in FY 2013 to 37% in FY 2019

Top 10 playersCapacity installed in FY 2019

Current rank

1

2

3

4

5

6

7

8

9

10

Previousyear rank

1

5

7

-

-

2

3

4

10

8

Increase/ Decrease

Inverter suppliersCompanyName

Delta

Solis

ABB

Sungrow

GoodWe

SMA (incl Zever)

Growatt

K-star

SolarEdge

Huawei

Previousyear rank

1

-

3

-

2

-

-

6

-

4

EPC contractorsIncrease/ Decrease

Company Name

Tata Power Solar

Prozeal Infra

Sunsure

Sunshot

Fourth Partner

Belectric

Bosch

Orb Energy

Solar Square

Mahindra Susten

Previousyear rank

1

-

2

10

-

3

4

-

8

6

Project developersIncrease/ Decrease

Company Name

Cleantech Solar

Fourth Partner

CleanMax

Azure

SunSource

Renew Power

Amplus

TEPSOL

Jakson

Orb Energy CAPEX OPEX

Until FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019

3% 5% 12% 19%20%

34%37%

Growth of rooftop solar vis-à-vis utility scale solar

Rooftop solar continues to grow consistently and is gaining increasing share of the solar market

0%

5%

10%

15%

20%

25%

30%

35%

Annu

al c

apac

ity a

dditi

on, M

W

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

10,000

Until FY 2015 FY 2016 FY 2017 FY 2018 FY 2019

Utility scale solar Rooftop solar Share of rooftop solar

Exclusive lead sponsor Associate sponsors

Exclusive lead sponsor Associate sponsors

NavigatorIndia Solar

Leading players

www.indiasolarnavigator.com

PEW

+91 124 4204003 marketing@bridgetoindia.comwww.bridgetoindia.com

C-8/5, DLF Phase 1, Gurugram - 122001 (HR), India (

© BRIDGE TO INDIA Energy Private Limited

Maharashtra, Rajasthan, Gujarat, Karanataka and Tamil Nadu are the top five states by annual installation and account for 60% share of total market

-

200

400

600

800

1,000

1,200

1,400

1,600

1,800

Until FY 2015 FY 2016 FY 2017 FY 2018 FY 2019

Maharashtra

Rajasthan

Gujarat

Karnataka

Tamil NaduUttar PradeshHaryanaMadhya PradeshAndhra PradeshPunjabOthers

29% of total installations are more than 1 MW in size

Total installation:4,375 MW

0

400

800

1,200

1,600

2,000

Until FY 2015 FY 2016 FY 2017 FY 2018 FY 2019

<250 kW 250 - 1,000 kW >1,000 kW

Average system size has increased over the years due to the greater adoption by C&I consumers