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India Poised To Emerge As Solar Pv Powerhouse

India’s rise to becoming the world’s secondlargest solar photovoltaics producer, poised to rival China, will be driven by the addition of 110 gigawatts (GW) of module manufacturing capacity in the next three years, securing the nation’s self-sufficiency.

In a report, the Institute for Energy Economics and Financial Analysis (IEEFA) and JMK Research & Analytics found that India’s total module manufacturing nameplate capacity rose over twofold to 38 GW in March 2023 from 18GW in the same period last year.

“The future of the Indian PV manufacturing sector is bright. The favourable policy environment created by the Indian government is helping the PV manufacturing industry to grow rapidly, which is evident in the frequent announcements of expansions or new investments in the sector,” said co-author Vibhuti Garg, director, South Asia, IEEFA.

“After India attains self-sufficiency in two to three years, the next course of action should be to challenge and compete for dominance in both quality and scale in the global PV module market. Despite the aggressive market drivers, there are minor hurdles that are impeding the growth of the PV manufacturing industry. Therefore, policy stability is necessary to sustain investor confidence in the market,” she added.

JMK Research Founder and co-author, Jyoti Gulia said the production-linked incentive (PLI) scheme is one of the main drivers in boosting the PV manufacturing ecosystem in the country.

The report added that a 51.6 GW increase in module capacity is expected as a result of both tranches of the PLI scheme, as well as at least 27.4 GW growth of integrated “polysilicon-tomodule” capacity in the next three to four years.

Increasing solar PV modules demand

Alongside this, the Indian government also implemented measures to drive demand for the locally-manufactured solar PV modules.

The country launched the Approved List of Module Manufacturers (ALMM) in 2019 in a bid to increase local demand and serve as an “absolute trade barrier” that protects local manufacturers’ interests, said co-author, Prabhakar Sharma, consultant, JMK Research.

Over 70 manufacturers are included in the list with a capacity of 22,389 MW, he said, citing data from the Ministry of New and Renewable Energy as of February.

Other measures include the the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan and Central Public Sector Undertaking Schemes.