Manufacturing capacity additions in 2023 were primarily driven by the anticipated reimposition of the Approved List of Models and Manufacturers (ALMM) order starting in April 2024, as well as potential export opportunities.
The country’s cumulative solar module manufacturing capacity reached 64.5 GW, and solar cell manufacturing capacity totaled 5.8 GW as of December 2023.
The top 10 manufacturers accounted for 62% of the module and 100% of cell production. About 60% of the installed module manufacturing capacity was equipped to manufacture solar modules in M10 and G12 wafer sizes. Only 22.2 GW of the total module production capacity was enlisted under the ALMM order per the updated List–I issued by MNRE as of January 2024.
Monocrystalline modules dominating
Monocrystalline modules accounted for 67.5% of the country’s module production capacity, followed by polycrystalline, Tunnel Oxide Passivated Contact (TOPCon), and thin film modules.
Gujarat led the country’s photovoltaic (PV) manufacturing capacity, accounting for 46.1% of solar modules. Telangana accounted for 39% of annual solar cell production capacity, the highest in the country as of December 2023.
Module manufacturing capacity is projected to surpass 150 GW, and cell capacity is expected to reach over 75 GW by 2026.
Also growing module and cell imports
Based on the current pipeline, monocrystalline modules are anticipated to represent 59.7% of the annual module production capacity and 50.5% of the cell production capacity by 2026, followed by TOPCon, Heterojunction (HJT), and other technologies.
Also see: End of European PV production?
Various public sector and government entities issued tenders totaling 9.7 GW to procure solar modules in 2023, up 275.6% YoY. India imported 16.2 GW of modules, the highest in a year, up 158% YoY from 10.3 GW in 2022. Domestic manufacturers exported 4.8 GW of solar modules in 2023, up 204% compared to 1.6 GW in 2022.
Also interesting: Tier 1 list halved after adjustment of criteria
India imported 15.6 GW of solar cells in CY 2023, up 169% YoY from 5.8 GW. India’s solar cell exports reached 286.3 MW in 2023, up 2,765% from 10 MW in 2022, according to Mercom India Research’s State of Solar PV Manufacturing in India 2023 report. (hcn)
