India’s PV module manufacturing capacity grew from 18 GW in March 2022 to 38 GW in March 2023. The data was revealed in a recent CII-EY report on Aatmanirbhar Bharat in Renewable Energy (RE) manufacturing.
The report also projects that the manufacturing capacity will exceed 110 GW by 2026, heralding a major shift in the country’s renewable energy landscape.
The policy changes introduced by the Indian government, including basic custom duty on solar cells and modules, the PLI scheme, and the introduction of Approved List of Modules and Manufacturers (ALMM) were cited as the top reasons for this growth.
These measures have helped domestic equipment become more competitive in the international market and streamlined the quality of modules.
The report also states that currently, close to 90 GW of solar cell and module manufacturing capacity is under approval and construction phase. Moreover, around 68 GW solar cell capacity is under implementation phase.
However, the document also points out a major challenge. Due to the high costs and technological challenges involved, India’s manufacturing capacity for components like polysilicon and ingot wafers is lacking.
But, the report predicts that by 2026, India could bridge that gap and achieve close to 100 GW of component manufacturing capacity, due to the PLI scheme.
The report finally stresses the importance of India concentrating on producing products that can compete on a global scale, positioning itself as a reliable choice for markets seeking to diversify their supply chains.
Click Here for more updates
Resource: ET Energy
Leave A Comment