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Rooftop Solar Industry: 2021 view

Updated: Mar 4, 2021

The most economic way of generating electricity for a company or individual is by installing solar rooftop plants on their rooftop. The large upfront cost seems to be the only barrier which is making it difficult for individuals to adopt this cheapest source of energy.

The global COVID-19 crisis has helped the industries and the commercial establishments over the world understand that installing rooftop solar is one of the most easy, economical and proven method of cutting down on operational costs.

Solar plant installed on a bunglow
Residential Rooftop Solar Plant

2021 View

It is estimated that the solar rooftop industry would grow due to this realised need of rooftop plants in industries. It would be a key factor powering business expansion in 2021. The increased demand of rooftop solar will open doors to various other services associated with it like installation service, imports, manufacturing in India, maintenance, etc. This will also improve the profitability as a whole for solar companies. Due the pandemic in 2020, most customers postponed their plan of going solar that year, but we expect that now only large industries but SME sector would also be eager to adopt rooftop solar this year and reduce on their operational cost heads.

The larger corporations, having surplus funds in reserves and a huge electric bills, are the ones adopting rooftop solar at a fast pace and at extremely low costs. SME’s understandable having their cashflow take a hit in 2020, are now starting to again drive a demand in the industry. Government subsidy, lack of awareness, no access to easy finance options in the markets are a few of the vital points which is hampering the growth of solar in residential sector. Where as there are specific engineers who look at the rooftop solar plant in detail comparing costs, residential customers fall into the claws of vendors who quote the lowest price and make the journey of installing solar not pleasant.

Though the positive news is, the number of queries we receive currently are exceeding the pre-COVID levels !