With schemes like the Pradhan Mantri Surya Ghar Yojana (PMSGY), the residential rooftop solar market is experiencing significant growth in the country. “One statistic that really shows this transformation is the amount of time taken for 1 lakh homes to adopt solar energy in India,” said Shreya Mishra, CEO & Co-founder, SolarSquare, a Mumbai-based rooftop solar company.
“The first 1 lakh homes went solar in India around 2019—a milestone that took about 5 years to achieve. By 2023, the number was reached in just 9 months. And today, in 2025, it takes only about 40-45 days for every additional 1 lakh homes to go solar,” said Mishra.
She noted that while the market was traditionally dominated by commercial and industrial installations, residential solar is now the fastest-growing segment of the rooftop solar market.
As of March 2024, India’s residential rooftop solar installation capacity has reached 3.2 gigawatts (GW), representing 27% of the total rooftop solar installations in the country; this marks an increase from 16% the previous year, according to a report by the Institute for Energy Economics and Financial Analysis (IEEFA).
Residential solar brand SolarSquare, founded by Shreya Mishra, Neeraj Jain, and Nikhil Nahar in 2015, is leveraging this transformation. The company has so far installed solar panels over 20,000 homes in more than 200 housing societies across nine states—Maharashtra, Uttar Pradesh, Madhya Pradesh, Delhi-NCR, Telangana, Karnataka, Tamil Nadu, Gujarat and Rajasthan—in India. SolarSquare is also empanelled with India’s national portal for rooftop solar—PM Surya Ghar: Muft Bijli Yojana—launched by Prime Minister Narendra Modi. (Reported by: ET)
