India's Solar PV Manufacturing Expands Significantly

30 Sep 2024 CW Team

India's solar photovoltaic (PV) module manufacturing capacity has seen an impressive increase from 2.3 GW in 2014 to 67 GW in 2024, driven by the government's "Make in India" initiative and key policy interventions. According to the Ministry of Renewable Energy, the capacity jump reflects the government's efforts to make India self-reliant (Atmanirbhar) in solar PV manufacturing and establish it as a global leader in the clean energy value chain. The Production Linked Incentive (PLI) scheme, with an outlay of ?24,000 crore for high-efficiency solar PV modules, has been a significant factor in this growth.

Union Minister for New and Renewable Energy, Pralhad Joshi, highlighted the immense contribution of India's renewable energy sector during the #10YearsOfMakeInIndia celebration. The government has been extending full support through various schemes, including PLI and Viability Gap Funding (VGF), to boost domestic industries and promote green energy solutions.

In addition to the growth in solar PV modules, other renewable energy equipment manufacturing—such as wind turbines, electrolysers for green hydrogen, and battery energy storage systems—has also gained momentum. The solar PV manufacturing sector has surged notably, with production capacity rising from 8 GW in 2021 to 67 GW in 2024.

Currently, over 48 GW of solar PV manufacturing projects are under implementation, expected to attract investments of around ?1.1 lakh crore and generate employment for approximately 45,000 people. These initiatives are vital in meeting domestic demand while positioning India as a key player in the global renewable energy sector.

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