TERI Report on India’s Solar PV Manufacturing: Highlights
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
| Theme | Findings |
|---|---|
| Global scale | Cumulative PV capacity about 2.2 TW (end-2024); module manufacturing capacity about 1.8 TW (projected end-2025) |
| Concentration | About 80% of capacity is in China |
| China’s share by stage | Wafers about 98%; polysilicon about 92%; cells about 91.8%; modules about 84.6% |
| India today | Downstream-heavy, mostly module assembly; around 120 GW per year module capacity (FY2025) |
| Drivers | PLI schemes, high import duties on finished panels, ALMM demand-pull |
| 2030 goals | Modules 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.