India's PV module capacity to reach 36GW by 2023

    A few days ago, JMK Research analysts analyzed India's PV Home Solar System Off Grid module capacity based on announcements from industry leaders or new entrants exploring the market.

    Analysts at JMK Research said: “India’s PV module capacity will double in two years to 36GW from 18GW as of December 2021. The Indian government’s Production-Linked Incentive (PLI) scheme for solar PV manufacturing is gaining momentum across the solar industry The main catalyst. The total budget layout of the program is INR 2,400 billion and is expected to incentivize about 40-50GW of module capacity.”

    "New entrants to the solar manufacturing industry in India are targeting GW-scale installation capacity as well as upstream integration, which is in line with what the Government of India (GoI) is trying to achieve through its solar module PLI scheme. At the same time, relevant industry stakeholders also There needs to be a focus on upskilling the workforce, boosting R&D infrastructure and, most importantly, a unified long-term policy for the Indian solar industry," the analysts said.