India’s Prime Minister Narendra Modi announced the ‘Pradhan Mantri Suryodaya Yojana’ on 22nd January 2024, a government initiative aiming to provide rooftop solar power systems to one crore households in India.

Expressing the idea during the auspicious occasion of the consecration in Ayodhya, PM Narendra Modi emphasized the significance of solar energy and said, “All the devotees of the world always get energy from the light of Suryavanshi Lord Shri Ram. Today, on the auspicious occasion of consecration in Ayodhya, my resolution further strengthened that the people of India should have their own solar rooftop system on the roofs of their houses. The first decision I have taken after returning from Ayodhya is that our government will launch “Pradhanmantri Suryodaya Yojana” with the target of installing rooftop solar on 1 crore houses. This will not only reduce the electricity bill of the poor and middle class but will also make India self-reliant in the energy sector,” said Prime Minister Narendra Modi on X.

This decision was revealed upon his return from Ayodhya, where he participated in the consecration ceremony of Lord Ram Lalla at the newly built Ram Janmabhoomi temple.

What is Pradhan Mantri Suryodaya Yojana?

1) The initiative targets the installation of rooftop solar panels in one crore households from the poor to the middle class, aiming to provide electricity from solar energy.

 2) Emphasizing its broader impact, the prime minister highlighted that the scheme not only intends to reduce the electricity bills of the poor and middle class but would also make India self-reliant in the energy sector.

3) In a proactive move, PM Modi has called for a nationwide campaign to encourage widespread adoption of rooftop solar among residential segment consumers, as reported by Business Today.

4)  Rooftop solar panels are photovoltaic panels installed on the roof of a building that is connected to the main power supply unit. This setup reduces reliance on grid-connected electricity, resulting in cost savings for consumers.

5) Solar rooftop systems involve an initial capital investment and minimal maintenance costs, offering a cost-effective and sustainable energy solution.

As of December 2023, the Ministry of New and Renewable Energy reports a total solar power capacity of approximately 73.31 GW in India. Additionally, the rooftop solar installed capacity stands at around 11.08 GW. To support such initiatives, the government has already implemented the National Rooftop Scheme, providing financial assistance equivalent to 40% of the capital cost for solar rooftop projects.

Pioneering Manufacturers Shaping India’s Green Energy Landscape 

Embarking on the ambitious mission to solarize one crore households marks a substantial leap forward, propelling the rooftop solar sector and solidifying India’s standing as a frontrunner in embracing sustainable energy practices globally. Beyond meeting immediate energy requirements, this groundbreaking initiative aligns with overarching environmental and economic objectives for the nation. The ripple effects of this initiative extend to various solar industry manufacturers and stakeholders, playing a pivotal role in the transformation of India into a more environmentally sustainable nation. Here, we highlight key players in the solar manufacturing sector who are making noteworthy contributions to harnessing solar energy and fostering India’s journey towards a greener future.

List of Top Solar Panel Manufacturers in India 

Here is the list of Top Solar Panel Manufacturers in India. From cutting-edge technology and innovation to a rich legacy and a commitment to green energy, these manufacturers showcase the diverse expertise required to drive India’s solar revolution. 

1. Servotech Power Systems
2. Tata Power Solar
3. Adani Solar 
4. Waree Solar 
5. Gensol Engineering 

Top Solar Batteries Manufacturers in India 

Here is the list of Top Solar Batteries Manufacturers in India. These companies stand out for their dedication to cutting-edge technology, a rich legacy in the industry, and an unwavering commitment to green energy initiatives. By leveraging innovative approaches, they play a pivotal role in driving India’s solar revolution forward.

1. Servotech Power Systems 
2. Luminous India
3. Exide
4. Okaya
5. Microtek 

List of Top Solar Inverter Manufacturers in India 

Here is the list of Top Solar Inverter Manufacturers in India. With a focus on sustainability and advanced technology, these companies play a crucial role in shaping India’s position as a leader in the global transition toward cleaner and more environmentally friendly energy solutions.

1. Servotech Power Systems
2. Microtek 
3. Luminous
4. Su-Kam Power Systems 
5. Livguard 

Conclusion 

In conclusion, the Pradhan Mantri Suryodaya Yojana, represents a monumental step towards transforming India into a solar-powered nation, emphasizing the significance of solar energy in fostering self-reliance and underscoring the government’s commitment to widespread adoption of rooftop solar among residential consumers. As India strides forward in solarizing households, major manufacturers of solar panels, solar batteries, and solar inverters play a crucial role. These companies, with their cutting-edge technology, rich legacy, and unwavering commitment to green energy, are pivotal in driving India’s solar revolution and contributing to the nation’s environmental sustainability and economic objectives. The collaborative efforts of the government and solar industry manufacturers are instrumental in shaping India’s leadership in the global transition towards cleaner and more sustainable energy solutions.

The Solar Energy Industry has gained remarkable momentum in India as the nation strives to transition towards cleaner and more sustainable sources of power. This transition reflects the nation’s combined efforts to embrace eco-friendly and sustainable power alternatives. The increasing momentum within this industry heralds a promising future, steering the nation towards a more sustainable and greener energy landscape. As solar technology continues to become more accessible, it is important to understand the pricing system of different types of solar panels. Explore this blog to understand solar panel price, including details about the leading solar panel manufacturers in India. This blog will tell you all that you need to know about the pricing so that you can make an informed decision for your sustainable energy choices. Let’s get started.

Average Cost of Solar Panel Installation for Home

Usually, a solar system is installed in a home and it includes a PV Module, Mounting Structure, Solar Inverter, Solar Battery, Battery Rack, ACDB, and DCDB Wiring. Here is a list of prices for different solar systems to assist you in selecting the most suitable option based on your solar power needs.

Solar System Size	Estimated Price Range
1 kW Solar System	₹65,000- ₹75,000
2 kW Solar System	₹1,40,000- ₹1,50,000
3 kW Solar System	₹1,80,000- ₹1,90,000
5 kW Solar System	₹2,50,000-₹2,70,000
7.5 kW Solar System	₹3,70,000-₹3,90,000
10 kW Solar System	₹4,90,000-₹5,10,000
15 kW Solar System	₹7,00,000-₹7,50,000
20 kW Solar System	₹9,00,000-₹10,00,000

Read also: Can Your House Run on a 5kW Solar System?

Key Factors that Influence Solar Panel Prices in India

Here are some key factors that influence solar panel prices in India:

i) Capacity and Size

The size and capacity of your solar system play an important role in determining its price. Larger solar systems with higher power output are usually more expensive. When deciding on the size of your solar installation, consider your energy consumption and the available space for the panels.

ii) Government  Incentives and  Subsidies

The incentives and subsidies provided by the Indian Government can significantly reduce the cost of purchasing and installing solar panels cause they are provided to promote solar energy. Therefore, it is essential to take advantage of these schemes to make solar power more affordable. 

iii) Location

The geographical location of your installation can influence the price of solar panels. Solar Irradiation, which measures the amount of sunlight received, varies across India.  Areas that receive more sunlight are more beneficial for solar power generation, potentially reducing the number of panels and consequently, the cost. 

iv) Additional Equipment and Components

Solar Panel Systems require additional components such as inverters, batteries, and mounting structures. These additional elements can add to the overall cost. 

v) Brand

The brand type can also affect the price. If you purchase a solar panel from a reputed brand, the solar system will likely be more expensive than others. 

vi) Tax Incentives

Taxes can be charged for installation in specific areas. This can increase the price of solar panels in India.  

vii) Cost of License

Different regions have different regulations for installing solar panels. While one area might require an average price for solar panel installation, the other might ask for more. Market Value – If there is a demand for a specific model in the market, the price of solar panels in India for that model might surge.

The Expected Average Price of Monocrystalline, Polycrystalline and Bifacial Solar Panel (per watt)

Servotech provides polycrystalline, monocrystalline, and bifacial solar panels in different power capacities. Here is a list of the average expected price per watt for the polycrystalline, monocrystalline, and bifacial solar panels available- 

The Expected Average price of Polycrystalline Solar Panels (per watt)

• 50 Watt – ₹32
• 100 Watt – ₹31
• 150 Watt – ₹30
• 200 Watt – ₹29
• 250 Watt – ₹28
• 315 Watt – ₹26

The Expected Average Price of Monocrystalline Solar Panels (per watt)

• 415 Watt – ₹25
• 545 Watt – ₹24
• 595 Watt – ₹24

The Expected Average  Price of Bi-facial Solar Panels (per watt)

• 545 watt – ₹25
• 595 watt – ₹25

Conclusion

In the ever-evolving landscape of solar energy in India, understanding the dynamics of solar panel pricing is crucial for making informed decisions. The prices of Solar panels are never the same. They keep changing. Hence, the prices of solar systems keep changing too. Always confirm the pricing with your EPC solar installation company.

Read also: Best Solar EPC Companies in India 2023