JAMMU & KASHMIR

KERALA

MAHARASHTRA

RAJASTHAN

HARYANA

PUNJAB

CHANDIGARH

UTTARAKHAND

DELHI

JHARKHAND

BIHAR

CHHATTISGARH

ODISHA

ANDHRA PRADESH

TAMIL NADU

TELANGANA

States with net metering

All figures in MW

www.bridgetoindia.com

Commercial Industrial Residential

OPEX2 CAPEX3

Government

13233 98

1

357622

12732

163104

532

9711

11533

62 1

3

89 3 69 17

17 4 112

46 7 21 18

81

2

5

10 53

2

552

6 47

57 4 33 18

INDIA SOLARROOFTOPMAP 2016

NORTH EAST

States with gross metering

Total installed capacity: 1,020 MW1

as of September 30, 2016

3216 12 4

25918

OTHERS

GUJARAT69 31 21 17

KARNATAKA51 8 28 15

UTTAR PRADESH 3312 12 9

MANIPUR, ASSAM, MEGHALAYA,TRIPURA, MIZORAM, NAGALAND,

SIKKIM, ARUNACHAL PRADESH

WEST BENGAL 14662

MADHYA PRADESH131

8 4

Total installed capacity by Su-Kam in the state

Lead sponsor Associate sponsor

175 57

263

167 853

377 121 260

Net metering implementation statusas per a survey of industry participants4

GoodAveragePoor

61

2

1

1

4

1.1% BOSCH1.1% SURE ENERGY1.1% HERO FUTURE ENERGIES

1.2% STERLING & WILSON

1.3% VIKRAM SOLAR

1.5% HARSHA ABAKUS

1.5% CHEMTROLS

1.6% FOURTH PARTNER

1.9%

KOTA

K URJA

0.8% INSOLARE0.7% MAHINDRA SUSTEN

0.6% PREMIER SOLAR

0.6% SOLON0.6% C&S ELECTRIC

0.5% 8MINUTES

0.5% EMMVEE

0.4% RAYS POWER EXPERTS

0.4% SUNSOURCE

0.3% WAAREE

0.2% ENERPARC ENERGY

0.2% ORIANO SOLAR

0.2% UJAAS

16.8% SELF EPC

BY PROJECT DEVELOPERS

0.9% ORB Energy 0.9% REIL0.9% PHOTON SOLAR

1.0% THERMAX

1.0% SWELECTES

1.1% RELYON

OTHERS 49.6%

7.7%

TAT

A PO

WER

SOL

AR

2.0%

JAKS

ONEPC contractors

(Market size- 513 MW)

OTHERS 26.5%

23.0%

CLEANMAX SOLAR

11.4% AMPLUS SOLAR

7.8% AZURE POWER

6.8% CLEAN

TECH SOLAR

RAY

S EX

PER

TS 5

.8%

JAKS

ON 3

.5%

WEL

SPUN E

NERGY 3

.2%

HERO FUTURE ENERGIES 3.0%

SURYADAY 2.6%

FOURTH PARTNER 2.0%

RENEW POWER 1.2%

MAHINDRA SUSTEN 1.1%MI SOLAR 1.0%RENOVA SOLAR 0.6%JBM 0.4%

Inverter suppliers(Market size- 513 MW)

Annual market share(Systems installed between October 2015 - September 2016)

25.3% SM

A

33.1% DELTA

KACO 5.7%

OTHERS 7.5%

STATCON ENERGIAA 2.2%

VISPRA 1.1%REFUSOL 0.7%

FRONIUS 4.4%

SUNGROW 3.7%

CONSUL NEOWATT 2.9%

GROWATT 1.5%

SWELECTES 1.3%

ENERTECH 1.1%

Project developers(Market size- 115 MW)

SU-KAM 3.7%

Focus on grid tiedinverters

Focus on hybrid andoff grid inverters

ABB 4.2%

Installed capacity as on September 30, 2016

1,020 MW

INDIA SOLARROOFTOPMAP 2016

Estimated capacity addition over next 12 months

1,192 MW

Associate sponsor Lead sponsor

BRIDGE TO INDIA is a consulting and knowledge services provider in the Indian cleantech market. We use our strong multi-functional expertise combined with comprehensive in-house research capability to develop

insightful industry analyses. Our overarching goal is to provide customised cleantech solutions and enable innovative business models in India. We work actively with all leading stakeholders including project developers and investors, energy customers, equipment suppliers, regulators, policy makers and development institutions.

Uniqueunderstanding

of the Indiancleantech market Market

Intelligence

Strategy Consulting

TransactionAdvisory

Head OfficeC-8/5, DLF Phase 1,Gurgaon - 122001 (HR)India

P +91 124 4204003E contact@bridgetoindia.com

www.bridgetoindia.com www.facebook.com/bridgetoindia

www.twitter.com/bridgetoindia

India Solar Future

About BRIDGE TO INDIA

+91 7680990966sales@sureenergysys.com

Grid parity status of key states7

Rooftop solarpower cost

Variable grid tariff forcommercial consumer

0.00

2.00

4.00

6.00

8.00

10.00

12.00

Mah

aras

htra

Kar

nata

ka

Del

hi

Tam

il N

adu

Andh

raPr

ades

h

Odi

sha

Tela

ngan

a

Wes

t Ben

gal

Raj

asth

an

Punj

ab

Ker

ala

Utt

arPr

ades

h

Bih

ar

Har

yana

Jhar

khan

d

Mad

hya

Prad

esh

Guj

arat

Utt

arak

hand

Chha

ttis

garh

M/k

Wh

Variable grid tariff forindustrial consumer

2015 2016 2017

0

500

1,000

1,500

2,000

2,500

3,500

3,000

2018 2019 2020

Capa

city

inst

alle

d in

the

year

(MW

)

Commercial Industrial Residential Government

We expect India’s total rooftop solar capacityto reach 12.7 GW by 2021

2021

Projections for rooftop solar capacity6Rooftop solar system cost trends5

2012 2013 2014 2015 2016

Syst

em c

ost (

M/W

p)

0

10

20

30

40

50

60

70

80

90

100

Module Inverter BOS and others

Rooftop solar system costshave fallen by 12% per annum

on an average in last four years

Top 10 players(October 2015 - September 2016)

CompanyName

CleanMax Solar

Amplus Solar

Azure Power

Cleantech Solar

Rays Experts

Jakson

Welspun Energy

Hero Future Energies

Suryaday

Fourth Partner

Previousyear rank

1

5

3

-

-

-

-

6

-

7

Previousyear rank

1

2

4

-

-

-

-

7

6

-

Previousyear rank

1

-

-

7

2

-

9

-

10

-

Increase/ Decrease

Project developers Inverter suppliersCompany Name

Delta

SMA (including Zever)

Kaco

Fronius

Su-Kam

Sungrow

ABB

Consul Neowatt

Statcon Energiaa

Growatt

Increase/ Decrease

EPC contractorsCompany Name

Tata Power Solar

Jakson

Kotak Urja

Fourth Partner

Chemtrols

Harsha Abakus

Vikram Solar

Sterling & Wilson

Hero Future Energies

SuRe Energy

Increase/ Decrease

Current rank

1

2

3

4

5

6

7

8

9

10

Notes:1. We have classified all on-site solar systems (including any ground based systems) as rooftop systems.

2. OPEX (operating expenditure) systems are owned and installed by third party investors on a PPA basis at the consumer’s premises.

3. CAPEX (capital expenditure) systems are owned and installed by the consumer.

4. Survey participants include – in alphabetical order – 8minutes, Aditya Green, Asun, Bosch, Emmvee, Fourth Partner, Hero Future Energies, Jakson, Kotak Urja, Mahindra Susten, Rays Infra, Solon, SunSource, SuRe Energy System and Vikram Solar.

5. Rooftop solar system costs are estimated for a 100kWp system installed on an industrial shed.

6. The projections are based on a detailed market model created by BRIDGE TO INDIA. Economic viability has been considered as the primary driver for rooftop solar adoption. Impact of already known central and state level policy initiatives has also been considered.

7. Grid parity status: a. Variable grid tariff is calculated after adjusting for fixed charges and ToD charges. b. Rooftop solar power cost is calculated for a 100kWp system and factors in an escalation of 2% per annum.

India rooftop solar market- key insights and statistics