LONGi Solar, Jinko Solar, JA Solar, Adani Solar, and Trina Solar were the leading module suppliers to the Indian solar market in the calendar year (CY) 2021. The three companies were responsible for half of the modules supplied to solar projects in India during the year.
The market share rankings were revealed in Mercom’s recently released report India Solar Market Leaderboard 2022. The report provides insights into the industry leaders’ market share and shipment rankings across the Indian solar supply chain.
The top five module suppliers accounted for approximately 60% of the market share. LONGi Solar was the leading module supplier to India for the second consecutive year.
Three other Indian module manufacturers besides Adani Solar made it to the top 10 module suppliers list in 2021.
In CY 2021, polycrystalline modules made up for about 30% of the total modules supplied to the Indian solar market, whereas monocrystalline modules accounted for over 60%. According to the report, bifacial, thin-film, and HJT modules were supplied in minimal capacities during the year.
Solar imports in 2021 spiked 641% compared to the previous year. Being the last quarter before the basic customs duty on modules and cells took effect, 9.7 GW of solar modules were imported in the first quarter of 2022.
To curb imports and achieve gigawatt-scale high-efficiency solar module manufacturing capacity in the country, the Ministry of New and Renewable Energy has issued new guidelines for the second phase (Tranche II) of the production-linked incentive program. An additional ₹195 billion (~$2.51 billion), along with the initial allocation of $45 billion ($617 million), has been announced in the 2022-23 Union Budget to fund the program.
A complete list of module suppliers and their market share is available through Mercom’s India Solar Market Share Tracker.
Arjun Joshi is a staff reporter at Mercom India. Before joining Mercom, he worked as a technical writer for enterprise resource software companies based in India and abroad. He holds a bachelor’s degree in Journalism, Psychology, and Optional English from Garden City University, Bangalore. More articles from Arjun Joshi.