Daily News Wrap-Up: Residential Rooftop Solar Gains Momentum

Top Global Large-Scale Solar Developers

December 11, 2023


In major Indian cities, residential buildings and housing complexes are adopting rooftop solar solutions and transitioning towards clean energy. This transition is primarily driven by the enticing potential for cost savings and incentives. In the first nine months of 2023, India witnessed a notable surge in rooftop solar installations, with a total capacity exceeding 1.3 GW, marking a 12% year-over-year (YoY). The third quarter alone saw the addition of 431 MW, indicating a significant 34.7% YoY growth. Notably, the residential segment dominated with 43% of the total installations in the quarter, as highlighted in Mercom India Research’s Q3 2023 Mercom India Rooftop Solar Market Report.

TotalEnergies, Adani Green Energy, and Brookfield Renewable Partners emerged as the leading global large-scale solar photovoltaic project developers in Mercom Capital Group‘s Leading Global Large-Scale Solar PV Developers report released recently. The report revealed the top ten global large-scale solar project developers between July 2022 and June 2023. The developers from around the world with projects in at least two countries were considered based on a set of criteria comprising operational capacity, under-construction capacity, and projects with awarded power purchase agreements.

The Ministry of New and Renewable Energy, Wind Energy Division, has revised its 2016 policy for repowering wind power projects to facilitate the replacement of older turbines. The ‘National Repowering & Life Extension Policy for Wind Power Projects – 2023’ allows the repowering or replacing of older turbines with more efficient ones, even before the end of their design life, through modifications in components such as gearbox, blades, generator, and controller. The objective of the repowering and life extension policy is to optimize the utilization of wind energy resources by maximizing energy (kWh) yield per square kilometer in the project area, employing the latest onshore wind turbine technologies.

The Indian Renewable Energy Development Agency (IREDA) has launched its retail division with an emphasis on providing loans in the Business-to-Consumer (B2C) sector. The strategic initiative targets borrowers under the PM-KUSUM program, rooftop solar consumers, and other B2C segments. Pradip Kumar Das, Chairman and Managing Director, IREDA, announced the launch of the retail division, which became operational on December 5, at the Leaders’ Dialogue on “Actioning Solutions for Global Sustainable Development and Governance of Resources” as part of the ongoing COP28 Global Climate Summit in Dubai.

The Central Electricity Regulatory Commission has ruled that the delay in adopting the tariff order by the Uttar Pradesh Power Corporation is a valid reason to claim an extension in the commissioning date for the generating station. It also ordered the release of the performance bank guarantee of ₹330 million (~$3.9 million) to wind developer Mytrah Energy India.

Bihar’s New Electric Vehicle (EV) Policy aims to accelerate the adoption of electric vehicles and the implementation of EV charging stations in the state, ensuring EVs account for 15% of all new vehicles purchased in the state by 2028. The five-year policy, recently approved by the state cabinet, offers up to ₹125,000 (~$1,499) in purchase incentives for the first 1,000 four-wheeler EV purchases. It also extends a minimum 50% rebate on Motor Vehicle Tax for all new EVs in the state.

The worldwide wind power industry forecast has declined by 29 GW in Q4 2023, indicating that the cumulative installed capacity would fall to 2.35 TW by the end of 2032, according to a report by Wood Mackenzie’s report. The ongoing policy and economic uncertainty in the U.S. and China’s increased restriction on permits and cancellation of projects have led to the combined reductions in these markets, accounting for 82% of the global quarter-over-quarter decline.