India's imports of solar cells and modules declined by 20% and 57% in first eight months of 2024-25: Report

New Delhi [India], March 18 (ANI): Several factors, including the expansion of domestic manufacturing capacity and the government's proactive measures, have over the past years contributed to a positive change in India's overall solar landscape.
India is making significant strides towards becoming self-reliant in solar cell and module manufacturing.
As per estimates from Rubix, an analytics services provider, imports of solar cells and modules declined by 20 per cent and 57 per cent respectively in the first eight months of 2024-25.
Notably, Rubix noted that imports from China have decreased significantly, dropping from over 90 per cent to 56 per cent for solar cells and 65 per cent for modules in 2023-24.
Naming TP Solar (Tata Power's solar manufacturing arm), Reliance Industries, Waaree Energies, Vikram Solar, Gautam Solar, Adani Solar, and Rene, Rubix said all these companies are planning capacity expansions in the gigawatt range.
"Additionally, the Indian Government's policy shifts are encouraging local production," Rubix categorically said.
Besides, support under Production-Linked Incentive (PLI) scheme is also set to enhance local production even more.
Despite these strides, India will still need to rely on imports for solar photovoltaic cells and wafers due to the limited domestic manufacturing capacity for cells and the absence of wafer production facilities, Rubix noted.
With the increase in domestic manufacturing, Indian photovoltaic manufacturers are increasingly targeting the export market.
"India primarily exports solar modules. The export of solar cells is negligible. In fact, India's exports of solar modules
were nearly 35 times that of its solar cell exports (in terms of value) in 2023-24," Rubix said.
Indian photovoltaic manufacturers are increasingly targeting the export market.
"Until FY2024, three of the largest domestic players--Waaree Energies, Adani Solar, and Vikram Solar--were responsible for most of India's PV exports, with each company exporting over half of its annual production in FY2024. Other Indian PV manufacturers, such as Grew Energy, ReNew Power, Navitas, Solex Energy, and Saatvik Energy, are also expanding into international markets and establishing supply chains
overseas," Rubix said.
At COP26, held in 2021, India committed to an ambitious five-part "Panchamrit" pledge. They included reaching 500 GW of non-fossil electricity capacity, generating half of all energy requirements from renewables, and reducing emissions by 1 billion tonnes by 2030.
India as a whole also aims to reduce the emissions intensity of GDP by 45 per cent. Finally, India commits to net-zero emissions by 2070. Green energy for climate mitigation is not just a focus area for India, but globally, it has gained momentum. (ANI)