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					</table>India has seen a spurt in solar installations in recent years. The introduction of PM Surya Ghar: Muft Bijli Yojana in 2024 has boosted rooftop solar installations in the residential sector. However, the absence of standards for module mounting structures in India has emerged as a significant challenge.
Harshal Akhouri, co-founder and CEO of Strolar, a manufacturer of solar trackers and mounting structures, shares his thoughts about issues relating to the Balance of Systems (BoS) used in solar projects. According to Akhouri, an ALMM-type mandate and targeted financial incentives could create a robust BoS ecosystem in India.
Tell us about Strolar and some of your key products and solutions.
Strolar offers a comprehensive range of mounting solutions that cater to diverse market segments. Established in 2015, Strolar has supplied over 12 GW of mounting systems worldwide.
Strolar&#8217;s product portfolio encompasses ground mounts, single-axis trackers, rooftop systems, carports, agrivoltaics, and floating photovoltaic mounting solutions. This extensive range addresses the unique requirements of commercial, industrial, and utility-scale projects. We are introducing a patent-pending technology for the residential solar market, with a launch anticipated in the upcoming quarter.
In the first half of 2024, Strolar <a href="https://www.mercomindia.com/whos-leading-the-solar-module-mounting-market-in-h1-2024" target="_blank" rel="noopener">secured</a> a 14.9% share of solar module mounting structure shipments in India, ranking third among its peers.
With India&#8217;s renewable energy sector growing rapidly, how do you see the balance of system (BoS) market evolving, particularly considering government programs like PM Surya Ghar: Muft Bijli Yojana and PM KUSUM?
The residential solar market has picked up speed. Kudos to the government&#8217;s vision and the agencies involved in making this a fast-track implementation. No one expected 1 GW deployment in residential solar with a 1,000% increase from its previous quarter. This, however, has necessitated the creation of a robust supply chain, especially in BoS.
Manufacturers must scale production to meet surging demand or risk slowing installations. In the short term, price-driven procurement will dominate, but the long game will see seller marketplaces flourish, ensuring stock availability for faster deployments. While innovation in BoS remains limited, early movers stand to gain a competitive edge.
New entrants will inject competition into the C&amp;I and utility segments, keeping pricing in check. The major challenge for faster implementation will be the lack of BoS items for which manufacturers must step up their capacity. The innovation curve will still be rare in the BoS space, but early mover advantages will remain. Exciting times in India to be a buyer unless you are a DCR module seller.
What are the different types of mounting structures available, and what are their key features?
The generic mounting systems include ground mounts, single axle trackers, rooftops, carports, agrivoltaics, and floating photovoltaic (FPV).
Ground-mount systems dominate utility-scale projects, offering fixed-tilt and tracker options. Trackers boost yield by up to 20%-25% by following the sun. Rooftop mount systems cater to residential and commercial spaces, optimizing space efficiency. Carports double as shade structures, integrating solar into urban landscapes. Agrivoltaic systems merge solar with farming, enhancing land use and crop protection. Floating PV on reservoirs and lakes reduces evaporation while generating clean energy.
With land constraints and efficiency demands rising, hybrid and adaptive mounting solutions are gaining traction. Future trends point toward AI-driven trackers and modular designs, ensuring solar installations remain cost-effective and high-performing. The right choice isn&#8217;t just about structure; it&#8217;s about long-term viability.
Trackers can enhance solar energy generation by up to 20%. How do you see their adoption in utility-scale projects and other segments?
Trackers were the talk of the town nearly two years ago, but with the module prices declining, it&#8217;s a sluggish pace. The reason? Economics.
With solar module prices steadily declining, the math favors fixed-tilt structures in utility-scale projects. Indian developers, known for their sharp financial acumen, prioritize return on investment (ROI) over marginal efficiency gains. Fixed-tilt systems are cheaper, simpler, and deliver predictable returns, key factors in large-scale project viability.
However, smaller developers, constrained by limited land, are showing increasing interest in trackers to maximize output. This signals a shift. As land costs rise and efficiency becomes a bigger driver, tracker adoption could increase. The tipping point? A rise in module prices or further cost reductions in tracker technology.
For now, the utility-scale segment remains cautious. But when the economics align, expect a surge in tracker installations. The market is watching, and adoption will follow when the numbers make sense.
Unlike solar modules and cells, some BoS components, such as mounting structures, lack a standardized quality framework. How could this impact large-scale residential rooftop solar programs like PM Surya Ghar?
India&#8217;s PM Surya Ghar program is designed to boost the adoption of residential solar energy, but it faces a significant challenge: the lack of a standardized quality framework for mounting structures.
Unlike solar modules and inverters, which adhere to global standards, these mounting structures are often custom-made, leading to inefficiencies in the supply chain and potential long-term risks. Each structure is tailored for specific locations, meaning that delays in procurement can disrupt project timelines. Implementing a standardized system would improve inventory management and allow for easier redeployment when site-specific issues arise, resulting in quicker installations and enhanced power production.
A more pressing issue is the structural integrity of these installations. Many homes in India do not have architectural blueprints, raising concerns about whether rooftops can sustain solar systems for 25 years. In the absence of clear technical guidelines, there are risks of structural failures, safety hazards, and warranty disputes.
This will certainly increase the cost of mounting systems by about 55%, according to estimates.
The risk is particularly acute in Tier 2 and 3 cities, where construction practices vary widely and unregulated solar BoS suppliers fulfill the PM Surya Ghar implementation. Without standardized mounting systems or regulatory oversight, thousands of rooftops could face integrity issues after installation.
Establishing a regulatory framework could set essential standards for load-bearing evaluations, material longevity, and resistance to weather conditions, helping to address these issues. Countries like Germany and the U.S. have implemented such standards to ensure safe installations and bolster investor confidence. India must adopt similar measures to avoid potential failures and inefficiencies in its rooftop solar initiative.
Standardizing mounting structures goes beyond just improving efficiency; it is crucial for securing India&#8217;s clean energy future. A robust regulatory framework will facilitate faster deployment, minimize risks, and enhance the long-term sustainability of the PM Surya Ghar program.
Given the absence of specific regulations and standards for certain BoS components, how are manufacturers navigating these challenges? What recommendations do you have for the government in this regard?
In India&#8217;s ambitious push toward renewable energy, a significant vulnerability threatens the PM Surya Ghar initiative – the lack of standardized quality frameworks for mounting structures in the Balance of System components. Unlike solar modules, inverters and cables, mounting systems remain unstandardized, creating a concerning blind spot in residential solar deployment.
The implications are profound. While commercial and utility-scale solar installations benefit from data-driven engineering decisions, residential projects are built by &#8220;mistris&#8221; (partially-skilled craftsmen) rather than professional engineers. These structures were never designed with the additional load of solar systems in mind.
A dedicated regulatory body is needed to establish technical parameters for residential mounting systems. Standardization would ensure structural safety and introduce flexibility, allowing components to be redeployed to alternative sites when challenges arise.
While not a &#8220;doomsday scenario,&#8221; failing to standardize mounting structures could undermine public confidence and safety in what should be India&#8217;s residential solar revolution.
Programs like the Production Linked Incentive program have supported solar cell, module, and battery manufacturing. What policy measures would you suggest to promote the growth of component manufacturing for mounting structures, trackers, cables, and junction boxes? 

A key challenge is the lack of awareness among component manufacturers about PLI benefits. A targeted outreach campaign via industry associations, digital platforms, and state-level initiatives can bridge this gap, ensuring these firms capitalize on available incentives.
Additionally, extending financial support under PLI or introducing a parallel scheme for BoS components could accelerate investments. Tax breaks, low-interest loans, and direct subsidies on raw materials like galvanized steel or Hot Rolled Steel would lower costs, making Indian products more competitive globally.
Infrastructure improvements are equally critical. Dedicated industrial zones near the major solar producing states with streamlined regulatory approvals and access to logistics hubs can attract manufacturers. Incentivizing R&amp;D, especially for lightweight and high-durability materials, will drive innovation and cost efficiency.
Policy alignment with global trade norms is another priority. Anti-dumping duties on imports and stronger quality certification frameworks will safeguard domestic players, ensuring industry sustainability.
Government projects mandate domestically manufactured solar modules under DCR requirements. Would an ALMM-type mandate help accelerate the growth of the BoS segment?
BoS, which includes inverters, mounting structures, cables, junction boxes and other critical components, accounts for 40–50% of total project costs. While module manufacturing has received policy support through Basic Customs Duty PLI, BoS manufacturers still face stiff competition from imports, particularly from China. A considerable quantity of steel was imported into India, which led to the creation of mounting systems supplies in 2024, raising concerns about supply chain security and long-term industry viability.
An ALMM-like mandate for BoS could have a threefold impact. First, it would drive localization, ensuring higher domestic value addition and reducing reliance on imports. Second, a stringent certification framework would enhance quality standards, addressing concerns about subpar components. Third, it would create a level playing field for Indian manufacturers, aligning with India&#8217;s goal of achieving 280 GW of solar capacity by 2030.
However, challenges remain. The industry must scale production capacity and improve cost competitiveness before enforcing a rigid mandate. Lessons from ALMM&#8217;s temporary suspension suggest that abrupt policies can disrupt project pipelines. A phased approach starting with anti-dumping duties, quality benchmarks, and targeted incentives could balance protectionism and market growth.
The way forward? A structured policy for BoS components, combining certification mandates with financial incentives, can fortify domestic supply chains while maintaining competitive pricing. With solar expansion crucial to India&#8217;s energy transition, ensuring a robust BoS ecosystem is not just necessary but an opportunity!

Lack of Standards for BoS Components Threatens Rooftop Solar Growth: Interview

NTPC Renewable Energy Limited (<a href="https://www.ntpc.co.in/en/power-generation/renewable-energy" target="_blank" rel="noopener">NTPC REL</a>) has invited bids for a balance of system (BoS) package with land for up to 1,000 MW of interstate transmission system (ISTS)-connected solar projects to be set up anywhere in India.
The last date to submit bids is February 3, 2022. Bids will be opened on the next day. The pre-bid meeting will take place on January 24.
Bidders quoting for capacity between 50 MW and 110 MW should submit ₹20 million (~$269,070) as a bid security deposit. For capacity above 110 MW up to 220 MW, the bid security amount is ₹5 million (~$672,693), and ₹100 million (~$1.34 million) for capacity between 220 MW and 440 MW. For capacity between 440 MW and 600 MW, the bid security deposit is ₹200 million (~$2.69 million).
The scope of work includes identification, acquisition, and transfer of ownership or lease of land in favor of NTPC Renewable Energy. The successful bidders will also be responsible for the design, engineering, manufacturing, supply, packaging, forwarding, transporting, unloading, storage, installation, testing, and commissioning of solar projects, excluding solar modules supply.
After commissioning these projects, the successful bidders must provide comprehensive operation and maintenance services for three years, including switchyard and power evacuation systems until the interconnecting grid substation.
Bidders should have designed and commissioned at least 40 MW of grid-connected solar projects. One project must be of a 10 MW capacity or above and have been in operation for at least six months before the date of the techno-commercial bid opening.
Alternatively, bidders should have installed grid-connected solar projects with a cumulative capacity of 40 MW or above. One solar project should be of a 10 MW capacity or above. The project should have been in operation for at least six months before the date of the techno-commercial bid opening.
Bidders should have executed an industrial project either as developers or as engineering, procurement, and construction (EPC) contractors in the power, steel, oil, gas, petrochemical, fertilizer, cement, or coal mining sector in the last ten years. The project should have been in operation for at least one year before the date of the techno-commercial bid opening.
Bidders should have completed at least one electrical sub-station of 33 kV or above voltage level, consisting of equipment like power transformers and circuit breakers.
The bidders&#8217; minimum average annual turnover for quoted capacity between 50 MW and 300 MW should be ₹1.1 billion (~$14.79 million) in the last three financial years. Their average annual turnover must not be less than ₹2.2 billion (~$29.59 million) in the last three financial years if the capacity is between 300 MW and 600 MW. Their net worth must be equal to or higher than their paid-up share capital in the last financial year.
Last month, NTPC Renewable Energy <a href="https://mercomindia.com/ntpc-issues-balance-system-tender/" target="_blank" rel="noopener">invited</a> bids for a BoS package for 325 MW of projects located at Shajapur Solar Park, Madhya Pradesh.
In November, NTPC Limited <a href="https://mercomindia.com/ntpc-reissues-tender-solar-rajasthan/" target="_blank" rel="noopener">reissued</a> a balance of system package tender for the 735 (3×245) MW Nokh solar power project in Rajasthan.

NTPC Tenders BoS Package with Land for 1,000 MW of Solar Projects

Total corporate funding into the solar sector encompassing venture capital/private equity (VC), debt and public market financing increased 175 percent in 2014 with $26.5 billion, compared to $9.6 billion in 2013.
Global VC investments more than doubled to $1.3 billion in 85 deals in 2014, compared to $612 million in 98 deals in 2013.
To get a copy of this report, please email us at <a href="mailto:info@mercomcapital.com">info@mercomcapital.com</a>.
<a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2018/05/Solar-VC-Funding-2011-2014-US-Dollar-in-Million.png"><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-4795" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2018/05/Solar-VC-Funding-2011-2014-US-Dollar-in-Million.png" alt="Solar VC Funding 2011- 2014- US Dollar in Million" width="347" height="288" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2018/05/Solar-VC-Funding-2011-2014-US-Dollar-in-Million.png 347w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2018/05/Solar-VC-Funding-2011-2014-US-Dollar-in-Million-300x249.png 300w" sizes="auto, (max-width: 347px) 100vw, 347px" /></a>
“The big story coming out of 2014 was the revival of capital markets &#8211; solar companies were able to access funding through multiple avenues like VC, public markets, IPOs and debt in record numbers, while the quest for lower cost of capital continued with Yieldcos and securitization deals. The solar sector has come a long way from being perceived as a speculative high risk investment to attracting investors based on low risk attractive dividend yields,” said Raj Prabhu, CEO of Mercom Capital Group.
Solar downstream companies saw the largest amount of VC funding in 2014 with $1.1 billion in 44 deals, accounting for 85 percent of venture funding. Investments in PV technology companies reached $75 million in 12 deals and Balance of Systems (BoS) companies were close behind with $73 million in seven deals. Concentrated Solar Power (CSP) companies came in at $59 million in three deals, followed by thin film companies with $52 million in nine deals.
The Top 5 VC funded companies in 2014 were Sunnova Energy, a provider of residential solar service to homeowners through its network of local installation partners offering leases and PPAs, which raised a total of $505 million in three separate deals; followed by Sunrun, a provider of residential solar-power systems and third party finance, raising $150 million; Renewable Energy Trust Capital, a finance platform established to acquire and own solar projects and provide a single equity capital source, brought in $125 million; Sungevity, a provider of residential solar installations and third party finance, raised $72.5 million; and GlassPoint Solar, a provider of solar steam generators to the oil and gas industry for applications such as Enhanced Oil Recovery (EOR), raised $53 million.
A total of 119 VC investors were active in 2014, with 12 investors participating in more than one round in 2014 including: Acero Capital, Acumen Fund, DBL Investors, E.ON, Ecosystem Integrity Fund, Novus Energy Partners, Omidyar Network, SolarCity, Sustainable Development Technology Canada, Trident Capital, Vision Ridge Partners, and Vulcan Capital.
Public market financing increased considerably to $5.2 billion in 52 deals in 2014, up from just $2.8 billion in 39 deals in 2013. In 2014 seven IPOs brought in more than $2 billion combined including, Vivint Solar, Scatec Solar, Thai Solar Energy and Sky Solar. Yieldcos accounted for three of the IPOs for $1.5 billion going to Abengoa Yield, Terraform Power and NextEnergy Solar Fund.
Announced debt financing in 2014 totaled almost $20 billion in 58 deals, compared to $6.2 billion in 38 deals in 2013. China accounted for $15.8 billion of the debt activity.
<a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2018/05/Solar-Tops-5-Announced-Large-Scale-Projects-Funded-by-Dollar-Amount-2014.png"><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-4796" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2018/05/Solar-Tops-5-Announced-Large-Scale-Projects-Funded-by-Dollar-Amount-2014.png" alt="Solar Tops 5 Announced Large-Scale Projects Funded by Dollar Amount 2014" width="625" height="408" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2018/05/Solar-Tops-5-Announced-Large-Scale-Projects-Funded-by-Dollar-Amount-2014.png 625w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2018/05/Solar-Tops-5-Announced-Large-Scale-Projects-Funded-by-Dollar-Amount-2014-300x196.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2018/05/Solar-Tops-5-Announced-Large-Scale-Projects-Funded-by-Dollar-Amount-2014-600x392.png 600w" sizes="auto, (max-width: 625px) 100vw, 625px" /></a>
Large-scale project funding announced in 2014  totaled $14.2 billion in 144 deals. The largest project funding deal announced in 2014 was the $942 million loan raised by China WindPower Group for a portfolio of projects totaling 800 MW. Top investors in large-scale projects were Mizuho Bank with 12 projects and Bank of Tokyo-Mitsubishi UFJ with 10 projects.
Residential and commercial funds showed strong growth in 2014 with 34 announced funds totaling $4 billion. SolarCity, SunPower, Vivint Solar, SunEdison and Syncarpha Capital were top fundraisers in 2014.
<a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2018/05/Solar-Top-5-MA-Transactions-in-2014.png"><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-4797" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2018/05/Solar-Top-5-MA-Transactions-in-2014.png" alt="Solar Top 5 M&amp;A Transactions in 2014" width="472" height="304" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2018/05/Solar-Top-5-MA-Transactions-in-2014.png 472w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2018/05/Solar-Top-5-MA-Transactions-in-2014-300x193.png 300w" sizes="auto, (max-width: 472px) 100vw, 472px" /></a>
Corporate M&amp;A activity in solar totaled $4 billion in a record 116 transactions compared to $12.7 billion in 81 transactions in 2013. Consolidation activity continued among solar downstream companies with 57 transactions followed by manufacturers and equipment companies with 35 transactions. In a bid to vertically integrate, SolarCity has made the most acquisitions in the last five years with seven, followed by First Solar and SunPower with six apiece. The largest M&amp;A transaction in 2014 was the $1.2 billion acquisition of Hanwha Q CELLS Investment by Hanwha SolarOne, followed by Bluestar Elkem’s acquisition of REC Solar for approximately $637 million. Danfoss acquired a 20 percent stake in SMA Solar Technology for $416 million; SolarCity acquired Silevo for $350 million and Solargise acquired a majority stake in Grapp Energies for $200 million.
Large-scale solar project acquisitions totaled $3.2 billion in 2014, compared to $1.7 billion in 2013. Transaction activity was up 46 percent year-over-year, with 163 deals in 2014. A total of 6.4 GW of large-scale solar projects were acquired in 2014. Good solar projects with solid returns continue to be in heavy demand and are being acquired at a record pace. Competition to acquire quality projects intensified with the emergence of Yieldcos.
The fourth quarter of 2014 was active for large-scale project development around the globe. Mercom tracked 241 project announcements totaling almost 9.5 GW for the quarter and 736 project announcements totaling 34.4 GW for 2014 in various stages of development globally.
Image credit: My Generation Energy

2014 Solar Corporate Funding Increases by 175 Percent to $26.5 Billion

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