Tata Power Targets ₹30,000 Crore Rooftop Solar Revenue by 2029

Tata Power has pulled forward its rooftop solar revenue target to ₹30,000 crore by 2029 from an earlier 2030 goal, driven by faster-than-expected installation growth and rising consumer demand. Managing Director and CEO Praveer Sinha disclosed the revised timeline during the company's investor call on Tuesday.

"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," Sinha said. The original plan had pegged the milestone alongside serving 30 lakh households. The acceleration reflects management's confidence as government subsidies, falling battery costs and broader awareness lift adoption.

Tata Power also aims to double its share of the rooftop solar market to 25% from 13% currently. "The number two player in the market is just 2 percent," Sinha noted. Monthly installations have surged from 1,000 units two years ago to 30,000 units now, according to the company. "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 edge to an integrated ecosystem 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," Sinha added. He described the overall opportunity as largely untapped, with 25 crore consumers across income segments. Systems range from 1 kW for lower-income households to 2–20 kW for larger users.

Battery storage is becoming a key part of the offering. "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," Sinha said. The company launched MySine battery storage solutions in partnership with TACO to complement rooftop installations.

The rooftop business posted another strong quarter. Tata Power installed 371 MWp of rooftop solar capacity in the April–June period of FY27, up 37% from a year earlier. Its solar manufacturing arm produced a record 1,001 MW of modules in the quarter at a manufacturing yield of 96.3%. Renewable generation was partly affected by curtailment in Rajasthan and Gujarat.

Tata Power has held the position of India's largest rooftop solar player for 11 consecutive years. Cumulative rooftop installations reached 5.2 GWp by the end of June, serving more than 4.8 lakh customers through 3,778 authorised channel partners and retailers. During FY26, the company added roughly 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 and expanded into Tier-II and Tier-III cities with over 690 residential channel partners and more than 3,000 retailers.

Investment momentum remains strong. Management indicated that capital expenditure in the September quarter is expected to exceed ₹6,000 crore and could approach ₹6,500 crore if project execution stays on schedule. Nearly half of that spending will go toward renewable energy projects, with Tata Power targeting commissioning of 800–900 MW of capacity during the quarter. The company is also continuing investments in pumped hydro storage and transmission infrastructure.