India’s Solar Photovoltaic Manufacturing Capacity Skyrockets to 67 GW
India’s solar photovoltaic (PV) module manufacturing capacity has witnessed an impressive increase, soaring from 2.3 GW in 2014 to a staggering 67 GW in 2024. This significant growth can be attributed to the government’s “Make in India” initiative and strategic policy interventions aiming to bolster the country’s clean energy value chain. As a result, India is establishing itself as a global leader in the solar PV manufacturing sector and making progress towards self-reliance – Atmanirbhar – in clean energy production.
Promoting Domestic Manufacturing through Key Initiatives
The Ministry of Renewable Energy has been at the forefront of driving this solar revolution. They highlight the government’s unwavering commitment to fostering the growth of domestic industries and promoting green energy solutions. One of the prominent mechanisms fueling this expansion is the Production Linked Incentive (PLI) scheme, which spurs the development of high-efficiency solar PV modules through an impressive ?24,000 crore investment. The PLI scheme has emerged as a crucial catalyst in realizing India’s solar manufacturing ambitions.
Total Transformation of the Renewable Energy Sector
Amidst celebrating India’s 10 years of the “Make in India” campaign, Union Minister for New and Renewable Energy, Pralhad Joshi, highly praises the remarkable contribution of the renewable energy sector. The government’s continued backing, including incentives like the PLI scheme and Viability Gap Funding (VGF), sets the stage for fostering strong domestic industries and scaling up green energy solutions.
This expansion is not limited to solar PV modules alone. The manufacturing of other renewable energy equipment, such as wind turbines, electrolysers for green hydrogen production, and battery energy storage systems, has also witnessed an undeniable surge. India’s solar PV manufacturing sector has experienced exceptional growth, with production capacity soaring from 8 GW in 2021 to an astonishing 67 GW in 2024.
Future Prospects and Investments
Currently, there are an estimated 48 GW of solar PV manufacturing projects under implementation, with the potential to attract investments of roughly ?1.1 lakh crore. This significant investment is expected to create job opportunities for approximately 45,000 individuals. These initiatives not only contribute to meeting the domestic demand for solar PV modules but also position India as a key player in the global renewable energy sector.
The enormous increase in India’s solar PV manufacturing capacity is a testament to the nation’s commitment to solar energy and its ambition to emerge as a leader in renewable technology. The government’s robust support, coupled with policy interventions like the PLI scheme, has propelled India’s solar manufacturing sector to unprecedented heights. With the continuous expansion and ongoing investment in renewable energy projects, India is well on its way to becoming a force to be reckoned with in the global clean energy landscape.
