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TERI Report on India’s Solar PV Manufacturing: Highlights

12 January 20261 min read
REPORTS & INDEXESTERI Report onIndia’s Solar PVManufacturing:Highlights12 January 2026safalsetu.com

Why in the news

The Energy and Resources Institute released a study on how India can capture more value from its fast-growing solar rollout, alongside the launch of the National Cleantech Manufacturing Implementation Plan.

About the report

It assesses the solar PV chain, from polysilicon, ingots and wafers to cells and modules, and points to strategic inflection points where action on policy, finance, R&D and skills can make India competitive, resilient and less import-dependent.

Key trends

ThemeFindings
Global scaleCumulative PV capacity about 2.2 TW (end-2024); module manufacturing capacity about 1.8 TW (projected end-2025)
ConcentrationAbout 80% of capacity is in China
China’s share by stageWafers about 98%; polysilicon about 92%; cells about 91.8%; modules about 84.6%
India todayDownstream-heavy, mostly module assembly; around 120 GW per year module capacity (FY2025)
DriversPLI schemes, high import duties on finished panels, ALMM demand-pull
2030 goalsModules above 280 GW/year; cells about 171 GW/year (from about 30 GW now)

Concerns

  • Heavy geographic concentration creates supply-chain vulnerability, with risks of price shocks, export controls and geopolitical disruption.

Way forward

  • Issue sovereign Green PV Bonds to cut borrowing costs and de-risk upstream investment.
  • Build Solar Manufacturing Technology Parks, a PV-Semiconductor Skill Council and recycling or circular-economy frameworks.

Exam angle

  • ALMM: Approved List of Models and Manufacturers.
  • Proposed instrument: sovereign Green PV Bonds.

Test yourself

1. Which institute released the report on India's PV manufacturing at the Bharat Climate Forum 2026?

The Energy and Resources Institute (TERI) released it.

2. What financial instrument did TERI propose to lower borrowing costs for upstream solar manufacturing?

TERI proposed sovereign Green PV Bonds.

3. In the TERI report, roughly what share of global PV manufacturing capacity is concentrated in China?

About 80% of global capacity is concentrated in China.