ReNew, Tata Power and Sterling & Wilson Led the Indian Solar Market in 2021

Indian Solar Sector Market Leaders for 2021 Revealed

Market leaders saw significant growth across majority of the categories

In first half of  year 2021, India installed approximately 4.6 GW of solar projects, a 251% increase compared to the same period of 2020, and during that period Adani, Tata Power Solar and Mahindra Susten were the market leaders as utility-scale solar project developer. 

In CY 2021, India saw a record 10 GW of new solar capacity installed, a big jump of 210% compared to the year before. The newly installed solar capacity in 2021 reached a record high, making up 62% of the total power capacity additions in 2021.

Mercom Communications India, a subsidiary of global clean energy communications and consulting firm Mercom Capital Group, has released its yearly report on the solar sector competitive landscape - India Solar Market Leaderboard 2022. The report covers market share and shipment rankings across the Indian solar supply chain for the calendar year (CY) 2021.

The solar market leaders list remained relatively consistent in CY 2021, with four new companies on the list. However, with domestic manufacturing receiving a strong push, new leaders are expected to emerge in 2022.

According to the report, utility-scale projects accounted for 83% of the total installations, with 8.3 GW of new installations during the year.

The report reveals that the top ten utility-scale project developers accounted for 68% of projects installed in CY 2021. ReNew Power was the top utility-scale solar developer commissioning the most projects during the year, followed by Adani Green.

In CY 2021, 1.7 GW of rooftop solar was added, a 138% increase compared to the previous year. Tata Power Solar led the list of rooftop solar installers, accounting for 20% of the total installations. In 2021, the top ten rooftop solar installers accounted for 43% of the rooftop solar market.

Companies offering solar engineering, procurement, and construction (EPC) services saw a significant number of projects moving to 2021 from the previous year. Sterling & Wilson topped the list of EPC providers during the year, closely followed by Siemens Gamesa and Tata Power Solar.

In 2021, the share of string inverters in solar installations overtook that of central inverters in India. Sungrow was the top solar inverter supplier in 2021 and also topped the list of string inverter suppliers. Sineng Electric led the list of central inverter suppliers.

Solar imports in CY 2021 saw a massive 641% increase compared to the last year. LONGi Solar was the leading module supplier to India for the second consecutive year. One Indian module manufacturer made it to the top five.

Arctech Solar was the top supplier of solar trackers during the year.

SNS Corporation led the list of top solar mounting structure suppliers for the second consecutive year, accounting for 30% of the total market share.

In CY 2021, open access solar installations grew 222% compared to the previous year, making it the second-best year on record. Fourth Partner Energy was the top open access installer during the year.

Over time, robotic cleaning systems have seen a rising demand across the country, with more emphasis on water conservation in energy generation. Sol-Bright Photovoltaic Technology was the top supplier of solar robotic cleaning systems to the Indian market in 2021.

For the detailed and comprehensive report, click here


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