India Soars: Sun's Power Fuels Domestic Solar Manufacturing

India Soars: Sun’s Power Fuels Domestic Solar Manufacturing

According to India’s Minister of New & Renewable Energy and Power (MNRE) during the 2022-23 financial year, approximately 12.78 GW of solar power generation capacity was added in the country.

As per the data from the Approved List of Models and Manufacturers (ALMM) and assessment by the National Institute of Solar Energy (NISE), the installed capacity for solar PV module manufacturing in India is around 50 GW. Industry feedback suggests that the installed capacity for solar cell manufacturing is around 6 GW.

Thus, the country has achieved self-sufficiency in the production of solar modules / panels but the country is yet to achieve substantial capacity in production of solar cells.

Over the past five years, the country has imported solar cells and modules worth approximately 11,171 million USD, accounting for about 0.4% of the country’s total merchandise imports during that time.

Reference- Economic Times, Business Standard, Mercom India, HT News, Mint, CNBC TV18