Solar startups in India enable residential, commercial and industrial users to generate, store and optimise solar energy usage.

India aims to install 500 GW of non-fossil fuel capacity by 2030, with solar expected to contribute over 280 GW.

As of April 12, 2023, the country boasts an impressive installed capacity of 66.78 gigawatts (GW), positioning it as the fourth-largest country in terms of solar energy capacity, according to an Inc42 report. Startups are targeting this opportunity through B2C, B2B and SaaS solar models.

High upfront costs, limited financing, and grid integration challenges slow solar penetration, especially in tier II & III cities. Supply chain issues, a lack of working capital financing and high fragmentation have fettered the growth of the industry, which is expected to reach $50 Bn in size by 2030.

Solar startups are building tech-driven platforms for discovery, installation, performance tracking and embedded financing to bridge this gap. Focus areas include rooftop solar, solar-as-a-service, IoT-based O&M and embedded storage.

Indian startups operating in this subcategory include ZunRoof, SolarSquare, Freyr Energy, Aerem and Loom Solar.