- Two out of top three solar module companies in India (for 2019) are based out of China
- All top three solar inverter providers for onsite solar market in India are from China
- The Indian solar manufacturing segment is equipped only to produce module equivalent to three GW
A recent report published by JMK Research has pointed out that about 7.3 GW of utility-scale solar capacity was added in 2019 in India. Another 2.1 GW in the form of rooftop solar capacity was also added in the country in the same year.
“From Project Developer’s perspective, Gujarat and Karnataka are the most conducive states to set up solar projects in India,” read the JMK Research Report.
It continued, “As of December 31, 2019, Rajasthan had a pipeline of more than five GW solar projects under planning while Gujarat and Maharashtra have a pipeline of about two GW projects.”
Two out of top three solar module companies from China
The report also highlighted that two out of top three solar module companies in India (for 2019) are based out of China. Risen, Waaree, and Znshine were top three module suppliers in India in 2019. Out of these three Risen and Znshine are headquartered in China. Similarly, Growatt, Sungrow, and Solis, top suppliers of rooftop solar inverters are based in China.
Solar modules, also known as solar panels, are photovoltaic panels that contain an assembly of connected solar cells. These solar cells absorb energy from Sun that is later on used to make electricity. The solar panels or solar modules, as per a report by Energy Informative, usually account for about 30 per cent of total costs of a solar project.
Interestingly, Waaree listed in the top three list, is headquartered in India. The company houses India’s largest solar module manufacturing facility. Waaree had expanded its module manufacturing capacity from 500 MW tp 2,000 MW in September 2019.
“The company has supplied over 2.5 GW of solar panels till date, and commissioned over 600 MW of solar EPC projects in India. With the recent expansion touching 2 GW, we foresee creating jobs in the surrounding villages, largely employing the blue-collar workforce,” Waaree Energies Ltd director of Sales & Marketing Sunil Rathi had said back then.
The demand for solar energy, as per Waaree has seen an uptake in the recent years with the current requirement holding strong at 25 GW. The company back in the same month had said that due to various policy driven and geo-political factors, the Indian solar manufacturing segment is equipped only to produce module equivalent to three GW or 3,000 MW.