India's Solar Surge: 1.3% Penetration, Huge Growth Ahead

India's rooftop solar penetration stands at a modest 1.3%, with only about 40 lakh eligible households adopting the technology. This low adoption rate, far behind countries like Australia and the Netherlands, highlights a vast market potential estimated at ₹2.5 lakh crore by 2030.

Government support is substantial, with the PM Surya Ghar Muft Bijli Yojana receiving a ₹75,021 crore outlay and an additional ₹22,000 crore allocated in the 2026 budget. These combined efforts aim to boost adoption, with projections reaching 75 lakh households by December 2026.

Installations have seen a strong upward trend, reaching a record 8.7 GW in FY26, a significant increase from previous years. This expansion is crucial for India's goal of achieving 500 GW of non-fossil capacity by 2030.

Leading companies like Tata Power and Waaree Energies are capturing significant market share, offering end-to-end solutions and leveraging in-house manufacturing to meet domestic content requirements.

Servotech Renewable Power Systems is also targeting niche segments, aiming to solarize 1 lakh homes by 2026 through partnerships and a simplified installation process.