Latest news with #PratikMandvia
Entrepreneur
09-07-2025
- Business
- Entrepreneur
India's Solar Landscape Shifts with Storage, Rooftop, and Domestic Push
Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. India's solar energy sector is charging ahead with unprecedented momentum. As of March 31, 2025, the country had commissioned nearly 85.6 GW of utility-scale solar capacity, with another 68.2 GW in the pipeline following completed auctions. This puts India's total installed solar capacity, when factoring in rooftop and other segments, on track to reach approximately 116 GW by mid-year, bringing the nation closer to its target of 280 GW by 2030. The fiscal year 2025 alone saw India add 17.4 GW of utility-scale capacity and 5.15 GW of rooftop solar installations. Rajasthan led the race with 6.5 GW added, followed by Gujarat (3.6 GW) and Maharashtra (2.3 GW). Rajasthan continues to dominate in cumulative capacity too, with 26.9 GW installed, dwarfing other states like Gujarat (12.8 GW) and Karnataka (10.6 GW). As per a report by JMK Research & Analytics, the coming year is expected to deliver even more: 21.2 GW of new utility-scale projects and 7.2 GW from rooftop and onsite models are slated for commissioning in FY2026. If realized, this would mark one of the highest annual growths in India's solar history. The sector's rapid scale-up is being powered not only by grid-scale utility projects but also by a strong push in decentralized, rooftop solar adoption. "Rooftop solar in India has crossed 11.1 GW as of mid-2025, with Gujarat, Maharashtra, and Uttar Pradesh among the top contributors," said Pratik Mandvia, solar business head at Mufin Green Finance. He pointed to the central government's PM Surya Ghar Muft Bijli Yojana, which aims to install rooftop solar systems on 10 million homes, as a key catalyst. Rooftop solar, still a relatively small share of the total capacity, is accelerating fast. "In India, the rooftop solar market is rip-roaring and is slated to hit 17 GW installed capacity by FY25 and, later, somewhere between 25-30 GW installed capacities by FY27," noted Mukesh Gupta, Co-founder of Maxvolt Energy. Gupta emphasized how rooftop systems ease grid pressure, cut emissions, and enhance energy security—essential ingredients for India's net-zero vision by 2070. The momentum is reinforced by favorable policy mechanisms such as the production linked incentive (PLI) scheme, solar subsidies, and domestic manufacturing incentives. Mandvia highlighted the broader implications: "Each megawatt installed saves over 1,500 tonnes of CO₂ annually. By turning households into power producers, rooftop solar supports both energy access and sustainability." Corporate and utility-scale developers are also racing ahead. According to the JMK report, Adani, ReNew, and Acme were the top three developers to commission the most utility-scale solar projects under DISCOM PPAs in FY2025. In the open access segment, Serentica, JSW Energy, and Greenko led new capacity additions. Among EPC contractors, Tata Power, Jakson Green, and Sterling & Wilson dominated the third-party utility-scale solar market. On the rooftop front, Tata Power Solar, Mahindra Solarize, and Orb Energy deployed the most projects. Module supply and exports also shifted significantly. Waaree, Jinko, and Longi emerged as the top module suppliers domestically, while First Solar, Adani, and Waaree were key exporters. First Solar alone exported nearly 66.7 per cent of its total module production in FY2025. In the inverter segment, Sungrow, Sineng, TBEA, and FIMER led supply. Expanded Capacity Alongside solar deployment, India's battery energy storage capacity is finally catching up. According to Mercom India Research, more than 341 MWh of battery energy storage systems (BESS) were installed in 2024, a sixfold increase from 2023. The bulk of this capacity came from solar systems paired with storage, with 60 per cent of installations in that category. By December 2024, total BESS capacity had reached 442 MWh. Looking ahead, over 4 GWh of standalone BESS, 4 GW of solar-plus-storage, and over 16 GW of renewable-plus-storage projects are under development. India has also made strides in pumped storage projects (PSPs), adding 4.7 GW to date, with another 51 GW in various stages of planning and development. The convergence of policy support, corporate investment, and technological improvements is reshaping India's energy future. Falling costs, increased financing access, and newer technologies such as high-efficiency panels and storage integration are setting the stage for continued expansion. The push for a 100 GW domestic module manufacturing capacity by 2030, under India's "Atma Nirbhar" (self-reliant) strategy, is further reinforcing the transition.
Entrepreneur
05-06-2025
- Business
- Entrepreneur
World Environment Day 2025: Can AI Fix the Energy Problem It Helped Create?
"Without skilled workers to maintain these systems, long-term gains are harder to secure. AI offers clear efficiency boosts, but it's not a plug-and-play solution; it requires system-wide adaptation," says Pratik Mandvia, Solar Business Head, Mufin Green Finance Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. The enormous energy appetite behind artificial intelligence (AI) loudly raises concerns about the massive electricity consumption powering the everyday AI-driven innovations dominating headlines. According to the International Energy Agency (IEA), global electricity demand from data centres could double by 2030 to around 945 terawatt-hours (TWh), slightly more than Japan's entire electricity consumption today. That's both shocking and real. But experts believe AI might be both the problem and the solution. AI's Play in Solar India's solar capacity has grown exponentially, with a 3,450 per cent increase over the past decade from just over 2.82 GW in 2014 to nearly 100 GW in 2025, according to the Ministry of New and Renewable Energy. The government's goal is to reach 500 GW by 2030, contributing significantly to its broader non-fossil energy target. According to Pratik Mandvia, Solar Business Head, Mufin Green Finance, "AI in solar now goes beyond weather forecasting. It helps optimise panel tilt, detect faults, predict shading, and manage grid loads in real time." He added that AI-led project planning has slashed construction timelines by 30 per cent and improved energy yield predictions by as much as 30 per cent. "However, limitations remain. Data quality and access are inconsistent, particularly in rural or legacy systems. Also, integrating AI into outdated infrastructure is also challenging," Mandvia explained. Meanwhile, Anand Jain, Founder of Aerem, believes that AI use cases within solar are still developing such as Energy Management Systems (EMS) and predictive maintenance solutions. However, he noted, "The quality of data and consistency remain major hurdles." Startups are the solutions Despite solar's clean image, environmental trade-offs are starting to emerge. Jain said that India already generated 100 kilotonnes of solar waste in 2024, a number expected to grow to 600 kilotonnes by 2030 and a staggering 19 million tonnes by 2050. Much of this is due to the absence of a proper end-of-life (EoL) policy for solar panels. Adding to this, Subhradeep Das, Development & Policy Economist, noted, "India must create a regulatory framework for the recycling and disposal of PV waste, similar to the EU's WEEE directive. Otherwise, we risk trading one crisis for another." He also warned that much of the upstream manufacturing is heavily dependent on Chinese polysilicon, embedding both carbon and geopolitical vulnerabilities into the supply chain. Mandvia echoed this sentiment and believes startups and small manufacturers can help in the long run. "India imports over 60 per cent of its solar modules from China, creating vulnerabilities in pricing and supply chains. While this has helped rapidly scale capacity, long-term resilience depends on local manufacturing. The government's PLI schemes and customs duties aim to boost domestic production. Startups and small manufacturers are gradually filling gaps, especially in modules, inverters, and battery packs," he said. But he concludes on the note of the skilled workforce challenge. AI could become a major game-changer, but it requires widespread adoption. "Without skilled workers to maintain these systems, long-term gains are harder to secure. AI offers clear efficiency boosts, but it's not a plug-and-play solution; it requires system-wide adaptation."
