India Rooftop Solar Photovoltaic Installation Market to Reach USD 9.80 Billion by 2032, Growing at a CAGR of 17.2% During 2026–2032

The India Rooftop Solar Photovoltaic (PV) Installation Market was valued at USD 3.18 billion in 2025 and is projected to reach USD 9.80 billion by 2032, expanding at a CAGR of 17.2% during 2026–2032. Market growth is being driven by the rapid adoption of distributed solar generation, rising electricity tariffs, and supportive government initiatives such as the PM Surya Ghar: Muft Bijli Yojana, which continue to accelerate rooftop solar deployment across residential, commercial, and industrial sectors. In addition, expanding domestic manufacturing of photovoltaic modules and solar cells, improved financing accessibility, favorable net-metering policies, and increasing corporate sustainability commitments are further strengthening market expansion.

Moreover, supportive financing reforms and continuous technological advancements are further enhancing rooftop solar adoption across the country. The Reserve Bank of India's revised Priority Sector Lending (PSL) guidelines, effective from April 2025, have improved access to affordable financing for residential rooftop solar installations by expanding credit availability through commercial banks and Urban Cooperative Banks, making solar systems more accessible for lower- and middle-income households. At the same time, buyers are increasingly transitioning from conventional mono-PERC modules to n-type TOPCon bifacial modules, which offer commercial efficiencies of 22–23%, lower annual degradation rates, and higher energy generation from limited rooftop space, making them particularly suitable for India's rapidly urbanizing environment.

Additionally, new installations continue to dominate the market, accounting for approximately 92% of total demand, supported by government incentives that primarily encourage first-time rooftop solar deployment. Systems above 100 kW represent the leading capacity segment with an estimated 55% market share, driven by growing adoption among commercial and industrial consumers benefiting from Green Energy Open Access regulations and expanded net-metering capacity. Regionally, the RD does not specify a leading region, while the competitive landscape remains moderately fragmented, with the top five companies collectively accounting for around 45% of the market through integrated manufacturing capabilities, nationwide EPC networks, and diversified rooftop solar project portfolios, as stated in the recent report “India Rooftop Solar Photovoltaic Installation Market Analysis, 2026”.

India Rooftop Solar Photovoltaic Installation Market Highlights

The India Rooftop Solar Photovoltaic (PV) Installation Market was valued at USD 3.18 billion in 2025 and is projected to reach USD 9.80 billion by 2032, registering a CAGR of 17.2% during the forecast period (2026–2032).
New Installation is the leading installation type, accounting for approximately 92% of the total market demand, driven by government incentives promoting first-time rooftop solar adoption.
Systems Above 100 kW dominate the market by system capacity, contributing approximately 55% of the total market, supported by rising commercial and industrial rooftop solar deployments.
The India Rooftop Solar PV Installation Market is moderately fragmented, with the top five companies collectively accounting for approximately 45% of the total market share.