The Indian Photovoltaic Manufacturers Association (AISMA) recently announced a historic milestone for the Indian photovoltaic industry - high-end photovoltaic modules manufactured in India will reach 60GW in fiscal year 2023. This marks a significant increase in production capacity over the past few years, from less than 10GW of low-power polysilicon PV modules manufactured in FY2020-21, to the current 60GW of high-power and technologically advanced Mono Perc, Topcon and HJT PV modules. . The increase in India's PV manufacturing capacity is the result of active efforts by several existing and emerging PV module manufacturers to prepare for the global rise of the Indian PV industry.
The growth of India's photovoltaic manufacturing capacity has been strongly supported by the Ministry of New and Renewable Energy (MNRE) and some regions such as Gujarat, from the imposition of protective tariffs on imported photovoltaic modules and photovoltaic cells to the implementation of production linkage for photovoltaic manufacturing. Incentive (PLI) and other programs.
Among the top 100 photovoltaic manufacturers in India, the top 27 have 50GW of photovoltaic module production capacity
India has set a target of installing 500GW of renewable energy power generation facilities by 2030, and photovoltaic systems are expected to reach 300GW. With the installed capacity of photovoltaic systems in India growing at an annual rate of 30%, the country is committed to increasing its photovoltaic manufacturing capabilities in the hope of becoming the world's preferred supplier. High-quality photovoltaic modules made in India are now being exported to North American and European markets.
In 2023 alone, Indian photovoltaic manufacturers exported 3,900MW of photovoltaic modules, with the potential to expand to 30GW, which will earn US$7-8 billion in foreign exchange and reverse its heavy reliance on fossil fuel imports.
The Production-Linked Incentive (PLI) measures implemented by India ensure that the country will increase its photovoltaic module manufacturing capacity by 40GW in the 2024-2025 fiscal year.
This new project also strategically prioritizes the backward integration of the photovoltaic industry chain to improve energy security while ensuring a reliable supply chain for domestic photovoltaic systems in India. The annual production of photovoltaic systems will exceed 30GW. There are currently more than 100 photovoltaic module manufacturers in India, of which the top 27 have a photovoltaic module production capacity of 50GW.
In addition to this, Reliance Group and Tata Group are expected to add 9GW of annual capacity and other players are expected to add 3GW, which will take India's PV module manufacturing capacity to 72GW by the end of FY2023.
Commenting on reaching this milestone, Hitesh Doshi, Chairman, Indian Photovoltaic Manufacturers Association (AISMA) said: "This is indeed a remarkable achievement for Indian PV manufacturing. Photovoltaic power generation is a key component of the clean energy transition and India is a leading player in this sector. This growing leadership position will position the country to play a leading role in the global renewable energy market."