State of Solar PV Manufacturing in India 1H 2024 – 11.3 GW Solar Module Manufacturing Capacity Added in 1H 2024

In the first half (1H) of calendar year (CY) 2024, India added 11.3 gigawatts (GW) of solar modules and 2 GW of solar cell capacity, according to Mercom India’s State of Solar PV Manufacturing in India 1H 2024 report.

Manufacturing capacity additions in 1H 2024 were primarily driven by strong demand, with solar project pipelines totaling 132.7 GW between 2024 and 2026 and the reimposition of the Approved List of Models and Manufacturers (ALMM) order from April 2024.

The country’s cumulative solar module manufacturing capacity reached 77.2 GW, and solar cell manufacturing capacity totaled 7.6 GW as of June 2024.

The top 10 manufacturers accounted for 58% of the module and 100% of cell production capacity as of June 2024.

Monocrystalline (mono) Passivated Emitter and Rear Cell (PERC) modules accounted for most of the country’s module production capacity, followed by Tunnel Oxide Passivated Contact (TOPCon), polycrystalline, and thin film modules.

Gujarat was the top choice for solar photovoltaic (PV) component manufacturers, accounting for 45% of the country’s solar modules and 52% of solar cell capacity as of June 2024.

Tamil Nadu and Rajasthan followed, housing 10% and 8% of India’s module production capacities. Telangana and Himachal Pradesh were the other leading states after Gujarat for solar cell facilities. As of June 2024, 28% of the solar cell facilities in India were in Telangana, and over 10% were in Himachal Pradesh.

Module manufacturing capacity is projected to surpass 172 GW, and cell capacity is expected to reach over 80 GW by 2026.

Various public sector and government entities issued tenders totaling 7.6 GW to procure solar modules in 1H 2024.

In 1H 2024, 13.2 GW of modules were imported, up more than 338% YoY compared to 1H 2023. Over 84% of these solar modules were imported in the first quarter of the year in anticipation of the ALMM order reimposition. India’s solar cell imports totaled 15.5 GW in 1H 2024, up nearly 152% YoY, with over 46% imported in Q1.

Domestic manufacturers exported over 3 GW of solar modules in 1H 2024, with exports increasing by more than 16% YoY. India’s solar cell exports reached 148.6 MW in 1H 2024, up by more than 195% YoY from 50.4 MW in 1H 2023.

Key Highlights from the Report:

• India added 11.3 GW of module capacity and 2 GW of cell capacity in 1H 2024
• The top three states for solar module manufacturing were Gujarat, Tamil Nadu, and Rajasthan
• Gujarat, Telangana, and Himachal Pradesh were the top three states for solar cell manufacturing capacity
• In 1H 2024, various government entities issued 7.6 GW of tenders to procure solar modules
• India’s solar PV module and cell imports were up over 338% and almost 152%, respectively
• India’s solar PV module and cell exports were up more than 16% and 195%, respectively

Contact Mercom for pricing: reports@mercomindia.com or call us at +91-80-41211148.