Solar PV Manufacturing in India

Date of release-January 2024

India aims to install 500GW of Renewable Energy by 2030, with a significant emphasis on solar PV. Domestic manufacturing plays a pivotal role in achieving the target. This report seamlessly navigates through the solar PV manufacturing landscape across the supply chain, profiles of leading manufacturers, and policies supporting domestic manufacturing, key challenges, and scope for improvement, providing a comprehensive analysis.

Table of Contents

  1. Global manufacturing landscape
    • Manufacturing landscape in the US, Europe, India, and Rest Of World
    • Leading Module Manufacturers across the globe
      • Leading Manufacturers- Current Manufacturing Capacities
      • Module shipments by Leading Manufacturers
    • Global Module Price trends
    • Market potential of solar PV till 2030 across countries
  2. Domestic Manufacturing Landscape-Existing and Upcoming capacity
    • Polysilicon
    • Ingot-wafer
    • Cell
    • Modules
  3. Adoption of Evolved Technologies in domestic manufacturing Infrastructure
  4. Favourable policies supporting Solar PV manufacturing in India
    • M-SIPS Scheme 
    • PLI (Tranche 1 and Tranche 2 allocations, current progress)
    • ALMM (capacity listed, new entrants)
    • Imposition of BCD
  5. Domestic Manufacturing capacity vs dependency on imports
  6. Comparison with China and the US
  7. Exports from India
    • Impact of Inflation Reduction Act (IRA) on Indian players
  8. Key Player profiles (Manufacturing capacity, expansion plans, investments raised, exports share, technology focus, financials)
    • Waaree
    • Adani (Mundra)
    • Premier Solar
    • Vikram Solar
    • First Solar
    • Emmvee
    • RenewSys
    • Goldi Solar
    • Tata Power
  9. Key Challenges
    • Duties on Cell and Ancillary Components
    • Lack of Domestic Solar Equipment Manufacturing
    • Polysilicon Hurdle
    • Lack of Skilled Manpower in Solar Manufacturing
  10. Way Forward

Note: Quarterly updates are also available for this report. To know more details, write to us at or call at 7428306655

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JMK Research & Analytics is a specialist research and consulting firm focussing on various cleantech segments in India and the Asia Pacific markets including, Renewables, E-mobility, Energy Storage (ESS) and Green Hydrogen.

Based on our in-depth sector experience, strong industry network, we provide key insights and detailed industry information which helps clients develop successful business models and market strategies.

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