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INDIA SOLAR

Lead sponsor Associate sponsors

www.bridgetoindia.com ROOFTOP
MAP 2017 SEPTEMBER

Total installed capacity: 1,861 MW 1


as of September 30, 2017
Public sector

393 798 294 377


2
Commercial Industrial Residential
15 10 Jammu & Kashmir
3 351 1510

OPEX 4 CAPEX 4
All figures in MW
73 8 25 40 Punjab
2 2
Uttarakhand 13 17

22 12 7 Chandigarh
3 Delhi 29 9 57 95

102 7 71 24 Haryana Uttar Pradesh 27 32 18 77

2 MW

North East 6 9 18
129 23 85 21 Rajasthan Manipur, Assam, Meghalaya, 3
Tripura, Mizoram, Nagaland,
Sikkim, Arunachal pradesh

3 2
Bihar 9
103 36 48 19 Gujarat 4
3
West Bengal 8 7 18

237 9 182 46 Maharashtra Jharkhand 4 4 7 15

Odisha 5 9 16
29 5 20 5 Madhya Pradesh
2
3.9 MW
Chhattisgarh 6 11 4 21

125 23 63 39 Karnataka

Telangana 22 21 12 54

Ratio of rooftop solar capacity to peak power demand in the state Others 17 15 8 40
High
Average
Low
Andhra Pradesh 28 15 7 50

Total installed capacity (MW) by Sungrow in the state


29 10 12 6 Kerala

Tamil Nadu 36 145 9 191

Annual market share3


Systems installed between Oct 2016 - Sep 2017 (880 MW)

Inverter suppliers Project developers EPC contractors


Market size - 880 MW Market size - 228 MW Market size - 880 MW
OLAR
SOLAREDGE 0.9%
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ENER 30.6 % S U N
ABA
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4.2% H
15.0% CLEANTECH 0.9% ERGY
RB EN
0.9% O R
NO SOLA
0.8% ORIA
FRONIUS 4.3% 0.8% MAHINDRA
0.8% TORP SOLAR
OTHERS 51.4%
0.7% VIKRAM SOLAR
0.6% ASUN
0.6% 8
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Indian rooftop solar market - key statistics
CAPEX vs OPEX share Net metering regulations comparison
Cap on system size
Ratio of capacity
600 OPEX market share has risen to 30% 35.0%
Power injected into Rooftop solar Mandatory rooftop installed in last
Total rooftop solar market has grown at a CAGR of 66% from 2013 to 2017 As a ratio of Absolute cap the grid as % of penetration installation as 12 months with
contract demand on project capacity, power consumed at distribution per local building net metering
State Metering type for the consumer MW from the grid transformer bye-laws connection
30.0%
500
Andhra Pradesh No capacity cap 1 NA 60%

25.0%
Annual capacity installation, MW

400 Maharashtra 100% 1 NA 40%

20.0%
Uttar Pradesh 100% 1 NA 15%

300
50% (non
15.0% Gujarat residential), no cap 1 NA 65%
for residential

200
Tamil Nadu 100% No cap 90% 30%
10.0%

Rajasthan 80% 1 NA 30%


100
5.0%

Goa NA 0.5 30% 30% -

0 0.0%
Till 2012 2013 2014 2015 2016 Until Sep
Karnataka NA 1 NA 80%
2017

CAPEX OPEX % Share OPEX


Madhya Pradesh 100% 0.25 NA 15%

Telangana 50% 1 NA 30%

Haryana 100% 1 90% 15%

Punjab 80% 1 90% 30%

Historic performance of key states5


Chhattisgarh NA 1 49% NA -

Kerala NA 1 NA 15%
250
Maharashtra has overtaken Tamil Nadu to become the biggest rooftop solar state in India
Odisha 100% No cap 90% 75%

200
Cumulative capacity installation, MW

Jharkhand 100% 1 NA 15% -

150 Bihar 100% 1 90% 15% -

Delhi No capacity cap 1 NA 20%


100

West Bengal NA No cap 90% NA

50
Jammu & Kashmir 50% 1 90% 20%

Uttarakhand NA 0.5 95% NA


0
Maharashtra

Tamil Nadu

Rajasthan

Karnataka

Gujarat

Haryana

Delhi

Uttar Pradesh

Punjab

Telangana

Andhra Pradesh

Chandigarh NA 0.5 30% 30%

Net Metering Gross Metering

2014 2015 2016 2017 Notes:


1. We have conducted an extensive data collection exercise and relied on multiple market sources to provide accurate, factual information as far as possible. All data has been
cross-referenced with data provided by government departments and other market players. However, we are unable to guarantee completeness or accuracy of any information.
2. We have classified all on-site solar systems (including any ground based systems) as rooftop systems.
3. Some market players including Solaredge, Schneider, TMEIC, S&W, Kotak Urja, Hinduja Renewables, Sunshot were either unreachable or did not validate the data available with us.
4. OPEX (operating expenditure) systems are owned and installed by third party investors on a PPA basis at the consumer’s premises. CAPEX (capital expenditure) systems are
financed and owned by the consumer.
5. This chart excludes residential data.
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 to arrive at the final projections.

Lead sponsor Associate sponsor

Projections for rooftop solar capacity6

3,500
We expect India's total rooftop solar capacity to reach 10.8 GW by 2021

3,000

2,500
Annual capacity installation, MW

INDIA SOLAR
2,000

ROOFTOP
1,500

MAP 2017 SEPTEMBER


1,000

500

0
2016 2017e 2018e 2019e 2020e 2021e
Installed capacity as on September 30, 2017
1,861 MW
Residential Public sector Commercial Industrial
Estimated capacity addition for 2017
887 MW

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