Over the past year, India has made significant strides in enhancing its solar module manufacturing capabilities. With the addition of 20.8 gigawatts (GW), the total capacity now stands at 64.5 GW. The growth in the solar industry can be attributed to a combination of factors, including government strategies and the increasing opportunities in the international market. According to Mercom India, Solar Capacity in India grew by 20.8GW in 2023.
India witnessed a significant increase in the manufacturing of solar cells, with a rise of 3.2 GW, resulting in a total of 5.8 GW. India’s solar production stands out due to the significant reliance on monocrystalline modules. This accounts for a substantial 67.5% of the total output. Additional technologies, including polycrystalline, Tunnel Oxide Passivated Contact (TOPCon), and thin-film modules, also play a role in the production landscape.
Looking into the future, there are high expectations for India’s module manufacturing capacity to reach over 150 GW. Also, its cell capacity could exceed 75 GW by 2026. Experts in the industry stress the importance of Indian manufacturers adjusting to the evolving global political landscape and competing with more affordable imports, especially from China.
Regarding trade with other countries, the country saw a huge rise in solar module imports. This further records 16.2 GW in 2023. At the same time, exports grew a lot too, reaching 4.8 GW, which is a 204% rise. Similarly, imports of solar cells skyrocketed to 15.6 GW, which is a huge 169% increase from the previous year. The total amount of solar cells exported was 286.3 megawatts (MW).
These events show that Solar Capacity in India grew by 20.8GW in 2023 and solar industry is doing very well there, But they also show how hard it is to handle local production, imports, and trade policies around the world. India’s solar energy industry is doing very well, and both domestic and international trade have gone up noticeably. Government policies that are good for business and a strong focus on clean energy are driving this growth.
Source: India’s Solar Panel Manufacturing Capacity Reaches 64.5GW
