India's solar module manufacturing capacity to reach 95 GW by 2025: Report

India's solar module manufacturing capacity is expected to reach approximately 95 GW by the end of 2025, according to Mercom Capital

Solar Energy, Renewable Energy, Green Energy
Press Trust of India New Delhi
2 min read Last Updated : Jan 31 2023 | 11:56 AM IST

India's solar module manufacturing capacity is expected to reach approximately 95 GW by the end of 2025, according to Mercom Capital.

The solar module manufacturing capacity as of September last year was 39 gigawatt (GW), the research firm said in its latest report.

"India's solar module manufacturing capacities announced...39 GW at the end of September 2022 and is expected to reach approximately 95 GW by the end of the calendar year (CY) 2025," the report titled 'State of Solar PV Manufacturing in India' said.

Indian PV (photovoltaic) manufacturers are strategically poised to expand their production capacities and adopt new technologies in the coming years on the back of government incentive programmes, the report said.

States are promoting domestic solar manufacturing through fiscal and non-fiscal incentives under industrial, electronics, and solar policies, it added.

In September 2022, the Cabinet approved a Rs 19,500-crore production linked incentive (PLI) scheme on 'national programme on high efficiency solar PV modules' with an aim to attract Rs 94,000 crore investment in the sector.

"The PLI programme is an added push to enhance vertical integration of new capacity additions and technology used. With an estimated 220 GW of solar capacity required by the end of the decade, India needs significant manufacturing capacity ramp up," Priyadarshini Sanjay, Managing Director of Mercom India said.

The US-based Mercom Capital Group is a clean energy research and communications firm with expertise in cleantech markets.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

Topics :Solar modulesmanufacturing

First Published: Jan 31 2023 | 11:56 AM IST

Next Story