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					</table><a href="https://www.jinkosolar.com/en/" target="_blank" rel="noopener">Jinko Solar</a>, <a href="https://www.longi.com/en/" target="_blank" rel="noopener">LONGi Green Energy Technology</a>, <a href="https://waaree.com/" target="_blank" rel="noopener">Waaree Energies</a>, <a href="https://en.gclsi.com/" target="_blank" rel="noopener">GCL Systems Integration New Energy</a>, and <a href="https://www.trinasolar.com/us" target="_blank" rel="noopener">Trina Solar</a> were the top solar module suppliers in 1H 2024, according to Mercom&#8217;s <a href="https://www.mercomindia.com/product/mercoms-india-solar-market-leaderboard-1h-2024-market-shares-profiles" target="_blank" rel="noopener">India Solar Market Leaderboard 1H 2024</a>.
Jinko Solar led the module shipments in the first half of the year, followed by LONGi Green Energy Technology and Waaree Energies. GCL Systems Integration New Energy and Trina Solar made up the top five.
The top five suppliers contributed to 46.1% of module capacities shipped to domestic solar projects.
<a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/11/Leading-Solar-Module-Suppiers-in-India-1H-2024.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-72986 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/11/Leading-Solar-Module-Suppiers-in-India-1H-2024.png" alt="Leading Solar Module Suppiers in India 1H 2024" width="774" height="509" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/11/Leading-Solar-Module-Suppiers-in-India-1H-2024.png 774w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/11/Leading-Solar-Module-Suppiers-in-India-1H-2024-300x197.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/11/Leading-Solar-Module-Suppiers-in-India-1H-2024-768x505.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/11/Leading-Solar-Module-Suppiers-in-India-1H-2024-650x427.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/11/Leading-Solar-Module-Suppiers-in-India-1H-2024-624x410.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/11/Leading-Solar-Module-Suppiers-in-India-1H-2024-600x395.png 600w" sizes="(max-width: 774px) 100vw, 774px" /></a>
As of June 2024, Jinko Solar had ten production facilities located across the globe. The company expects its monocrystalline silicon wafer, cell, and module production capacity to reach 120 GW,  95 GW, and 130 GW, respectively, by the end of 2024.
LONGi Green Energy Technology has solar cell and module manufacturing facilities in China, Vietnam, and Malaysia, as well as solar ingot and wafer production facilities in China and Malaysia. Over the next three years, the company expects its annual production capacities for solar wafers, cells, and modules to reach 200 GW, 100 GW, and 150 GW.
Waaree Energies had four solar module manufacturing facilities in India with an aggregate annual module production capacity of 12 GW as of June 2024. During the year&#8217;s first half,  the company secured a contract with <a href="https://www.mahindrasusten.com/" target="_blank" rel="noopener">Mahindra Susten</a> to supply 280 MW of N-Type TOPCon 580 Wp solar modules in Bikaner, Rajasthan. It also secured a contract from <a href="https://www.acciona-energia.com/" target="_blank" rel="noopener">ACCIONA Energy</a>&#8216;s subsidiary, Juna Renewable Energy, to supply 335 MW of bifacial solar modules in Rajasthan.
Indian manufacturers accounted for 42% of the modules supplied to domestic solar projects.
Indian module imports in 1H 2024 were primarily from China. The top suppliers exporting to India included Jinko Solar, LONGi Green Energy Technology, GCL Systems Integration New Energy, Trina Solar, and <a href="https://www.jasolar.com/html/en/" target="_blank" rel="noopener">JA Solar</a>.
In 1H 2024, Mono PERC modules comprised 96% of shipments. TOPCon modules accounted for nearly 2.2% of the modules shipped, and polycrystalline modules made up 1.6% of the supply. Over 49% of the modules shipped during 1H 2024 were bifacial.
<a href="https://aikosolar.com/en/" target="_blank" rel="noopener">Aiko Solar</a>, <a href="https://en.tw-solar.com/" target="_blank" rel="noopener">Tongwei Solar</a>, <a href="http://www.jietaisolar.com/" target="_blank" rel="noopener">Jetai New Energy</a>, <a href="https://www.solarspace.com/" target="_blank" rel="noopener">SolarSpace</a>, <a href="https://www.yingfa.com/" target="_blank" rel="noopener">Anhui Yingfa Deshseng</a>, and <a href="https://gokinsolar.com/en/" target="_blank" rel="noopener">Guangdong Jinwan Gaojing</a> were the top solar cell suppliers in 1H 2024.
Mercom&#8217;s India Solar Market Leaderboard 1H 2024 report covers market shares and rankings across the Indian solar supply chain and provides the most accurate and comprehensive coverage of India&#8217;s solar industry leaders.
For the complete report, <a href="https://www.mercomindia.com/product/mercoms-india-solar-market-leaderboard-1h-2024-market-shares-profiles" target="_blank" rel="noopener">click here</a>.
The leading Indian module suppliers in CY 2023 were Waaree Energies, <a href="https://www.adanisolar.com/" target="_blank" rel="noopener">Adani Solar</a>, <a href="https://premierenergies.com/" target="_blank" rel="noopener">Premier Energies</a>, <a href="https://saatvikgroup.com/" target="_blank" rel="noopener">Saatvik Green Energy</a>, and <a href="https://rayzonsolar.com/" target="_blank" rel="noopener">Rayzon Solar</a>.
The <a href="https://www.mercomindia.com/product/mercoms-india-solar-market-share-tracker" target="_blank" rel="noopener">Market Share Data Tracker</a>, which gives data insights into competitors and their growth rates quarterly, is now available.

Jinko, LONGi, and Waaree Lead Solar Module Supply in 1H 2024

A massive explosion was reported at a polysilicon factory in the city of Shihezi in China’s Xinjiang region. The plant produces raw materials for polysilicon used in the production of solar modules.
The factory belongs to the <a href="http://www.hoshinesilicon.com/index_en.aspx" target="_blank" rel="noopener">Hoshine Silicon Industry</a>, which stated that the fire broke out at the second phase trial production line at the finished product packaging workshop of the sealing plant.
In a notification to the Shanghai Stock Exchange, the company stated that the gutted portion did not house the raw material production unit, which goes into making polysilicon. The company has claimed that the mishap has had no major impact on the company’s production and operation.
According to Hoshine, the fire has been extinguished, and no casualties have been reported. An on-site inspection has been conducted, and the pollutants are mainly particulate matter and not toxic or harmful gas. The company has stated that environmental protection departments continue to monitor air quality to ensure that no secondary disasters occur.
China’s Xinjiang region houses several major manufacturing facilities integral to the polysilicon supply chain, as the region provides 40% of the world’s polysilicon. These include Hoshine and other manufacturers of finished polysilicon, such as <a href="http://www.dqsolar.com/" target="_blank" rel="noopener">Daqo New Energy</a>, <a href="http://www.gcl-poly.com.hk/en/" target="_blank" rel="noopener">GCL-Poly Energy Holdings</a>, <a href="https://www.bloomberg.com/profile/company/EHGCLZ:CH" target="_blank" rel="noopener">East Hope Group</a>, and <a href="https://www.xinteenergy.com/en/" target="_blank" rel="noopener">Xinte Energy</a>.
According to Chinese media reports, Hoshine supplies raw materials to both Daqo and GCL-Poly.
In July 2020, an <a href="https://mercomindia.com/polysilicon-prices-rise-explosions-production-facility/" target="_blank" rel="noopener">explosion</a> at GCL’s Xinjiang production facility saw the prices of polysilicon skyrocket globally. The explosions have resulted in about 50 MT of polysilicon production capacity going offline, around 10% of the global production capacity.
GCL had <a href="https://mercomindia.com/gcl-poly-warns-shareholders-huge-losses-in-1h-2020/" target="_blank" rel="noopener">warned</a> its shareholders to expect losses to the tune of RMB 1.5 billion (~$217 million) in the first half of 2020. The total net loss for the first half of 2020 (unaudited) was RMB 1,924 million (~$281.8 million).
A small fire was also reported at Daqo’s polysilicon plant on July 1, 2020, affecting a production capacity of 6,000 MT. Similarly, heavy flooding in South-eastern China forced <a href="http://en.tongwei.com/" target="_blank" rel="noopener">Tongwei Group</a> to shut down a quarter of its polycrystalline silicon unit.
The solar industry is already experiencing polysilicon shortages, and the average spot prices have increased exponentially over the past 12 months.
<a href="https://mercomindia.com/wp-content/uploads/2021/06/Average-Monthly-Polysilicon-Spot-Prices-in-China-Taiwan-in-2021.png"><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-26889" src="https://mercomindia.com/wp-content/uploads/2021/06/Average-Monthly-Polysilicon-Spot-Prices-in-China-Taiwan-in-2021.png" alt="Average Monthly Polysilicon Spot Prices in China Taiwan in 2021" width="538" height="375" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2021/06/Average-Monthly-Polysilicon-Spot-Prices-in-China-Taiwan-in-2021.png 538w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2021/06/Average-Monthly-Polysilicon-Spot-Prices-in-China-Taiwan-in-2021-300x209.png 300w" sizes="(max-width: 538px) 100vw, 538px" /></a>
With the latest explosion, speculation is rife that the polysilicon prices will spike, increasing project costs. However, based on the initial statement by Hoshine, the impact of this explosion could have minimal effect on polysilicon prices and supply. We will continue to monitor this development closely.

Explosion at Hoshine Silicon’s Polysilicon Plant in China Threatens Supply

Prices of polysilicon, an essential raw material for solar photovoltaics (PV) cells, are expected to climb higher spiked following an explosion at GCL’s Xinjiang production facility. The prices, according to a research report published by California-based investment banker <a href="http://www.roth.com/" target="_blank" rel="noopener noreferrer">ROTH Capital Partners</a>.
The explosions are said to have resulted in about 50 metric tons (MT) of polysilicon production capacity taken offline. This amounts to over 10% of the global production capacity.
According to Mercom’s data (June 2020), the average monthly polysilicon spot prices in China and Taiwan dropped around 26% over the last year.
<a href="https://mercomindia.com/wp-content/uploads/2020/07/Poly.png"><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-20377" src="https://mercomindia.com/wp-content/uploads/2020/07/Poly.png" alt="" width="473" height="357" srcset="https://cms.mercomindia.com/wp-content/uploads/2020/07/Poly.png 473w, https://cms.mercomindia.com/wp-content/uploads/2020/07/Poly-300x226.png 300w" sizes="(max-width: 473px) 100vw, 473px" /></a>
According to ROTH’s latest report, prices for the raw material are expected to climb higher over the coming weeks considering that GCL’s facility is expected to remain non-operational for around 3-6 months with the potential to take up to nine months. The associated government investigations, environmental reviews, alone could take as long as four months—not including the actual repair work.
Also, Xinjiang has proposed strict COVID-19 measures, which could restrict logistics and the flow of polysilicon even more, thereby adding yet another layer of supply constraint.
It noted that GCL’s plans to expand production capacity by 20,000 MT for the fourth quarter of the year may now be delayed by two more quarters.
ROTH is increasing its poly average selling price forecast by 5% for Q3 2020 to $8.20/kg from $7.45/kg, 13% for  Q4 2020 to $8.80/kg from $7.80/kg, and 5% for Q1 2021 to $8.40/kg from $8.00/kg.
There were four “flash explosions” at the facility on Sunday and a fifth on Monday, as per ROTH Capital’s findings. It said that the suspected cause was overpressure in the rectification and boron removal filter leading to a leak of trichlorosilane gas.
“We expect the poly pricing impact to be immediate and exacerbated by the current state of the industry supply chain, which is currently lean as the downstream industry heads into an inventory replenishment cycle,” the report further added.
The ongoing coronavirus crisis had disrupted the global supply chain since the lockdown was first imposed in China. In a recent online survey <a href="https://mercomindia.com/indian-solar-industry-coronavirus-crisis/" target="_blank" rel="noopener noreferrer">conducted</a> by Mercom India Research, almost 70% of the respondents said their business would be affected by over 15% due to coronavirus. Moreover, 83% of the survey participants expect solar component supply shortages because of the virus.
According to Mercom’s <a href="https://mercomindia.com/product/india-solar-export-import-tracker/" target="_blank" rel="noopener noreferrer">India Solar EXIM Tracker</a>, China was the largest <a href="https://mercomindia.com/solar-imports-declined-exports-surged-2019/" target="_blank" rel="noopener noreferrer">exporter</a> of solar modules and cells to India in the calendar year 2019, with a market share of nearly 78%.
China <a href="https://mercomindia.com/china-solar-capacity-2019/">added</a> 30.11 GW of new solar capacity in 2019. Large-scale projects made up 17.91 GW and 12.2 GW of installations was through distributed projects, according to the official statistics released by China’s National Energy Administration (NEA). According to the latest statistics, installations declined by  31.9% year-over-year, compared to 2018, which saw <a href="https://mercomindia.com/china-installs-44-gw-solar-capacity-cy-2018/" target="_blank" rel="noopener noreferrer">44.26 GW</a> of solar installations.
Recently, the Chinese Ministry of Industry and Information Technology <a href="https://mercomindia.com/china-streamline-solar-manufacturing-expansion/" target="_blank" rel="noopener noreferrer">issued</a> a draft that proposes several guidelines for the manufacturing capacity of solar components in the country. The draft stated that the implementation of these measures would help the solar photovoltaic manufacturing industry promote sustainable and healthy development. The move came in the wake of overcapacity in the industry and falling installations in the country.
Notably, in 2018, China <a href="https://mercomindia.com/china-terminates-levy-antidumping/" target="_blank" rel="noopener noreferrer">terminated</a> the levy of anti-dumping and countervailing duties on solar-grade polysilicon originating from the European Union. The duties were in place since May 2014.
Polysilicon imports to China are expected to increase in the short-term to fill the gap in supply.
Image credit: Georg Slickers / CC <a href="https://creativecommons.org/licenses/by-sa/2.5" target="_blank" rel="noopener noreferrer">BY-SA</a>

Polysilicon Prices Likely to Rise Following Explosions at a Chinese Production Facility

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