New Delhi, Sept. 17 -- India's rooftop solar capacity could increase to 132 GW by 2030 from the current 17 GW, with annual demand estimated at 9-15 GW through 2030, according to a report by the Indian Solar Manufacturers Association (ISMA).

The report, titled Residential Rooftop Solar Market: Market Sizing and Growth Outlook, estimates that around 115 GW of additional rooftop solar potential remains untapped.

It said the PM Surya Ghar: Muft Bijli Yojana (PMSGMBY), along with state-level incentives, has supported the expansion of residential rooftop solar installations.

According to the report, a typical 3 kW residential rooftop solar system, after central and state subsidies, has a payback period of 2 to 6.7 years across the 10 states ...