India added 25.3 GW of solar module and 11.6 GW of cell manufacturing capacity in calendar year 2024, according to Mercom’s recently released “State of Solar PV Manufacturing in India 2025” report.
Demand from pipeline solar projects and the return of the Approved List of Models and Manufacturers (ALMM) order in April 2024 primarily drove the capacity increase. The ALMM limits government-backed projects to modules and manufacturers on the list to protect the domestic industry from Chinese product dumping and ensure quality.
The Mercom report stated that about 80% of India’s installed module manufacturing capacity as of December 2024 was equipped to produce solar modules using M10 and G12 wafer sizes. Around 64.6 GW of the total module production capacity was listed on the ALMM, based on the updated List-I issued by the MNRE as of Jan. 6, 2025.
Monocrystalline modules, with or without passivated emitter and rear cell (PERC) technology, accounted for nearly 59% of India’s module production capacity, followed by tunnel oxide passivated contact (TOPCon) modules at 28%, then polycrystalline and thin-film modules.
Based on the current pipeline, Mercom anticipates that TOPCon modules will account for more than 58% of annual module production capacity and over 64% of cell production capacity by 2027.
“While India’s solar capacity additions have been impressive, the availability of domestically made modules and cells still lags. Average selling prices remain high, sourcing is a challenge, and now the new U.S. tariffs have added more uncertainty,” said Raj Prabhu, CEO of Mercom Capital Group. “For India to achieve its 280 GW solar target by 2030, it must address these bottlenecks and align its manufacturing capacity expansion policies with its development goals. For manufacturers, relying on exports as a growth strategy is looking increasingly risky right now.”
In 2024, India imported solar modules and cells totaling 65.9 GW. Modules accounted for over 36% of the imports, while cells made up nearly 64%. Solar module exports from India stood at 4.5 GW, 6% down from 4.8 GW exported in 2023.
