Grew Solar module manufacturing line
According to the Mercom report, by December 2024, approximately 80% of India’s installed module manufacturing capacity could produce solar modules using M10 and G12 wafer sizes. Of the total module production capacity, 64.6 GW was included in the ALMM, as per the Ministry of New and Renewable Energy’s (MNRE) updated List-I, released on January 6, 2025.
Monocrystalline modules, including those with or without passivated emitter and rear cell (PERC) technology, made up nearly 59% of India’s module production capacity. Tunnel oxide passivated contact (TOPCon) modules followed at 28%, with polycrystalline and thin-film modules comprising the rest. Looking ahead, Mercom predicts that by 2027, TOPCon modules will dominate, representing over 58% of annual module production capacity and more than 64% of cell production capacity, based on current project trends.
Despite these advances, challenges persist. Raj Prabhu, CEO of Mercom Capital Group, noted: “While India’s solar capacity additions have been impressive, the availability of domestically made modules and cells still lags. Average selling prices remain high, sourcing is a challenge, and now the new U.S. tariffs have added more uncertainty.” He emphasized that for India to meet its 280 GW solar target by 2030, it must overcome these hurdles and better align manufacturing growth with national development objectives. He also cautioned that depending on exports for expansion could prove difficult for manufacturers under current conditions.
Throughout 2024, India imported a total of 65.9 GW of solar modules and cells. Modules accounted for over 36% of these imports, while cells comprised nearly 64%. On the export front, India shipped out 4.5 GW of solar modules, a slight decline of 6% from the 4.8 GW exported in 2023. This data highlights the ongoing reliance on imports to meet demand, even as domestic production capacity continues to rise.
