India's Solar manufacturing capacity expected to touch 100 GW by 2026

India is set to become a global leader in solar manufacturing, with its capacity expected to touch 100 gigawatts (GW) by 2026. This is a significant increase from the current capacity of 22.4 GW, and it is being driven by a number of factors, including government policies, falling solar module prices, and increasing demand for renewable energy.

Government policies

The Indian government has implemented a number of policies to support the growth of solar manufacturing in the country. These include the Production-Linked Incentive (PLI) scheme, which provides financial incentives to companies that manufacture solar modules and other components in India. The government has also set ambitious targets for solar deployment, which is creating demand for domestically manufactured solar products.

Falling solar module prices

The price of solar modules has fallen sharply in recent years, making them more affordable for consumers and businesses. This has made solar energy more competitive with other forms of energy, such as coal and gas.

Increasing demand for renewable energy

India is facing a growing energy demand, and it is committed to meeting this demand through renewable energy sources. Solar energy is a key part of India's renewable energy plans, and the government is targeting to install 280 GW of solar power by 2030.

Benefits of a strong solar manufacturing sector

A strong solar manufacturing sector will have a number of benefits for India. It will create jobs, boost economic growth, and reduce India's reliance on imported energy. It will also help India to achieve its climate change goals.

Challenges and opportunities

There are a number of challenges that the Indian solar manufacturing sector needs to overcome in order to achieve its full potential. These include the high cost of raw materials, the lack of skilled labor, and the competition from Chinese manufacturers.

However, there are also a number of opportunities for the Indian solar manufacturing sector. The global solar market is growing rapidly, and India is well-positioned to capture a significant share of this market. The Indian government is also supportive of the sector, and it is providing a number of incentives to help companies grow and succeed.

How India can achieve its solar manufacturing target

In order to achieve its solar manufacturing target of 100 GW by 2026, India needs to take a number of steps. These include:

• Continued government support: The government needs to continue to provide financial and other incentives to solar manufacturers. It should also work to address the challenges faced by the sector, such as the high cost of raw materials and the lack of skilled labor.
• Increased investment: India needs to attract more investment into the solar manufacturing sector. This investment can come from both domestic and foreign sources.
• Collaboration between industry and academia: The Indian solar manufacturing industry needs to collaborate more closely with academia. This will help to develop new technologies and improve the skills of the workforce.
• Export promotion: The government needs to promote the export of Indian-made solar products. This will help to increase the demand for domestically manufactured solar products and boost the sector's growth.

Conclusion

India is on track to become a global leader in solar manufacturing. The country has a strong policy framework in place, and it is benefiting from falling solar module prices and increasing demand for renewable energy. However, there are a number of challenges that the sector needs to overcome, such as the high cost of raw materials and the competition from Chinese manufacturers.

Additional information

In addition to the above, here are some other factors that are contributing to the growth of India's solar manufacturing sector:

• The growing demand for solar energy in India: India is one of the fastest-growing solar markets in the world. The country is targeting to install 280 GW of solar power by 2030. This is creating a huge demand for domestically manufactured solar products.
• The availability of abundant solar resources: India has abundant solar resources. The country receives an average of 5.3 kWh/m2/day of solar radiation. This makes India an ideal location for solar manufacturing.
• The government's focus on renewable energy: The Indian government is committed to developing renewable energy sources. The government has set ambitious targets for solar deployment and is providing a number of incentives to support the growth of the solar sector.

The future of India's solar manufacturing sector looks bright. The country has a strong policy framework