India’s solar photovoltaic (PV) manufacturing sector is undergoing evolutionary change, founded on strong government support, increasing investments, and growing focus on clean solutions. With the fast-growing application of solar power, India is not only expanding its production capacity but also becoming a front-runner nation in solar technology development. Major solar companies in India, like Avaada Group, are making revolutionary strides in maximizing production capacity.
Increase in PV Manufacturing Capacity
The solar industry in India has witnessed significant growth in solar panel manufacturing, with several firms adding new module and cell capacities. Recent accounts suggest that market participants have installed 9.3 GW of solar module capacity and 0.2 GW of solar cell capacity in 2024. The growth is primarily spurred by the government’s Production-Linked Incentive (PLI) schemes and local manufacturing policies.
Avaada Group's Role in India's Solar Manufacturing
Avaada Group, the leading solar manufacturing company in India, has made a wonderful contribution in improving India’s renewable energy infrastructure. Avaada Group expanded its manufacturing capacity with the commissioning of two large-sized manufacturing facilities:
- Avaada Giga Factory – Solar Module Manufacturing Plant: Based in Greater Noida, Uttar Pradesh, this manufacturing plant has been designed to enhance the capacity for 1.5 GW solar module manufacturing to meet enhancing domestic and foreign demand.
- Avaada Nagpur Manufacturing Plant: The factory is an important part of India’s standalone PV manufacturing capacity and contributes to the overall sustainable solution ecosystem.
- Further strengthening India’s self-reliance in solar manufacturing, Avaada’s upcoming 5 GW integrated solar module manufacturing facility in Greater Noida will set new benchmarks for India’s solar industry. Spread over 50+ acres in Ecotech-16, the plant will produce cutting-edge TOPCon N-Type solar cells with industrial-scale high efficiency.
Price Trends in Module and Cell Manufacturing
With increasing demand and technological advancement, module prices have been escalating. TopCon and Monoperc module prices went up by INR 2.5/Wp to INR 3/Wp (29 – 35 US cents/Wp). Regardless of differing prices, producers continue to spend on advanced technology in the drive for greater efficiency at minimal expenses.
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Import and Export Scenario
India remains a net importer of solar PV modules, although exports have been rising consistently. In Q4 2024 (to November):
- India imported US$222.41 million of solar PV modules.
- India exported US$130 million value of modules, out of which the destination was the USA.
This indicates a growing global demand for Indian-produced solar products and demonstrates the potential of the Indian market to become a major exporter in the near term.
ALMM Enlisted Capacity and Technology Share
The Approved List of Models and Manufacturers (ALMM) is a critical element of India’s solar manufacturing sector. As of December 2024:
- The ALMM enlisted capacity stands at 63.03 GW, more than 95 manufacturers.
- Up to 1,127 modules are registered at ALMM.
- Distribution according to technology:
- Monoperc, Bifacial Monoperc, and TopCon modules account for 86% of the registered capacity.
- Multi-C-si modules account for the remaining 14%.
These indicate the dominance of high-efficiency PV technologies within India’s solar market.
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Conclusion
India’s PV manufacturing sector is set for exponential expansion, propelled by government subsidies, private investments, and cutting-edge technologies. Avaada Group is at the forefront of strengthening domestic manufacturing. With increasing production capacities, increased exports, and a focus on green solutions, India is well on its way to becoming a world solar powerhouse.
