India’s Solar Manufacturing Capacity Set to Outpace Global Growth with New Investments

ENA Sectors 2024-12-09 17:23:04 New Delhi, Dec 9 (KNN) India's solar manufacturing landscape is undergoing a revolutionary transformation, with substantial investments and technological advancements propelling the country toward a leadership role in global solar equipment production. Tata Power Renewable Energy's subsidiary, TP Solar, has recently set up an industry 4.0-standard plant in Tamil Nadus Tirunelveli district, spread across 317 acres. This state-of-the-art facility produces 20,000 solar photovoltaic (PV) units daily, aided by autonomous mobile robots (AMRs). The plant, built with an investment of Rs 4,300 crore, uses advanced technologies like TopCon, mono PERC, and bifacial modules, which can generate electricity from both sides for increased efficiency. Commissioned in October 2023, the plant's solar cell production line now has a capacity of 4 gigawatts (GW). This facility is part of a larger trend, with India ramping up its solar equipment manufacturing capacity, which reached a cumulative 77.2 GW for modules and 7.6 GW for cells in 2024. The country's manufacturing sector has evolved rapidly from just 3 GW of solar cells and 8 GW of modules in 2017. Gujarat and Telangana are the primary hubs, accounting for a significant portion of India's solar capacity. In 2024, India set a record by adding 11.3 GW of solar modules and 2 GW of solar cell capacity. This growth is fueled by supportive government policies like the Production Linked Incentive (PLI) scheme, which incentivises the establishment of integrated solar value chains. Major players, including Reliance Industries, Adani Solar, Waaree Energies, and ReNew, are heavily investing in expanding solar manufacturing facilities, aiming to meet both domestic and global demand. The competition in the global market is fierce, with China currently controlling over 70 per cent of global solar module production. However, India's solar exports have surged, particularly to the U.S., which accounted for over 97 per cent of Indian solar exports in 2023. As more countries embrace renewable energy, India's solar manufacturing sector is poised for further growth, with capacity expected to reach 172 GW for modules and over 80 GW for cells by 2026. This makes India a key player in the global solar energy race. (KNN Bureau) 40195 https://knnindia.co.in/news/newsdetails/sectors/indias-solar-manufacturing-capacity-set-to-outpace-global-growth-with-new-investments 2024-12-09 17:23:04 knnindia.co.in India’s Solar Manufacturing Capacity Set to Outpace Global Growth with New Investments