Tata Power has advanced its rooftop solar revenue target to ₹30,000 crore by 2029 from its earlier 2030 goal, driven by rapid growth in installations, rising consumer demand and government support.
| Photo Credit:
The Tata Power Company Ltd on Tuesday said it is targeting a more than six-fold jump in revenue from its rooftop solar business to ₹30,000 crore by 2029, while aiming to double its market share to 25 per cent nearly.“We have been growing at a very high pace. Year before last we were ₹2,300 crore, last year we did ₹4,800 crore. I think we will cross ₹30,000 crore in 2029 itself and not in 2030,” Tata Power Managing Director and CEO Praveer Sinha said during the company’s investors call on Tuesday. The revenue target advances the company’s earlier aspiration to achieve the ₹30,000-crore milestone by 2030 while serving 30 lakh households, reflecting management’s growing confidence in the pace of rooftop solar adoption as government incentives, falling battery costs, and rising consumer awareness drive demand.Market share expansion backed by rapid installation growthThe company is also targeting a significant expansion in its leadership position in the rooftop solar segment. “I will also be increasing my market share from 13 percent to 25 percent. So I will be one of the biggest in the market and by a huge margin. In fact, the number two player in the market is just 2 percent,” Sinha said. According to the company, the monthly rooftop installations have increased sharply over the past two years. “Two years back I used to do 1,000 units a month, now I do 30,000 units a month. There is a huge change that has happened. This will be a game changer not only for us but for the country in terms of how power will be produced,” he said.The executive attributed the company’s confidence to the integrated ecosystem it has built over the years, spanning manufacturing, distribution, installation and after-sales support. “We are the biggest in the market. We command a premium in the market and we have developed the whole supply chain, channel partners, after-sales service and the digital solutions that we provide. No one can match us in the rooftop segment,” he added.Integrated ecosystem and battery storage to drive next phase of growthSinha said the rooftop solar opportunity remains largely untapped, with enormous potential for growth across income segments. “India has 25 crore consumers, so the market potential is humongous. This is a product which is going to the poorest of the poor who take 1-kW systems and to others who take 2-20 kW. This is a phenomenal product giving independence to people to generate their power,” he said. The company is increasingly bundling battery storage with rooftop solar systems, which it believes will further accelerate adoption. “Now we are giving them batteries also and so it makes them self-sufficient. The cost has come down and so it is making economic sense. It is good for the environment,” Sinha said.The optimism follows another strong quarter for Tata Power’s rooftop solar business. The company installed 371 MWp of rooftop solar capacity during the April-June quarter of FY27, up 37% year-on-year, helping drive the performance of its renewable business. Its solar manufacturing arm produced a record 1,001 MW of modules during the quarter at a manufacturing yield of 96.3%, although renewable generation was partly impacted by curtailment in Rajasthan and Gujarat.Tata Power has retained its position as India’s largest rooftop solar player for 11 consecutive years. It ended the June quarter with cumulative rooftop solar installations of 5.2 GWp, serving more than 4.8 lakh customers through a nationwide network of 3,778 authorised channel partners and retailers. During FY26, the company installed around 2 GW of rooftop solar capacity, taking cumulative installations beyond 4.8 GWp. It installed more than 2.2 lakh rooftop systems during the year. It expanded its reach into Tier-II and Tier-III cities through a network of over 690 residential channel partners and more than 3,000 retailers. The company has also launched MySine battery storage solutions, developed in partnership with TACO, to complement rooftop solar installations.Capex to remain robust with focus on renewable energyManagement also indicated that investment momentum will remain strong. Capital expenditure in the September quarter is expected to exceed ₹6,000 crore and could be close to ₹6,500 crore if project execution remains on schedule. Nearly half of the planned second-quarter capital expenditure will be directed towards renewable energy projects as Tata Power targets commissioning 800-900 MW of capacity during the quarter, while continuing investments in pumped hydro storage and transmission infrastructure.Published on July 28, 2026
