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Image Source : Energyinfra market Screenshot 2024 07 09 144317

India's Solar PV Module Capacity Grows to 67 GW Rapidly Insight


Last Update 26 September 2024

India's Solar PV Module manufacturing capacity soared from 2.3 GW to 67 GW over the past decade, largely due to the Make In India initiative. Currently, 48 GW of Projects are underway under the Solar PLI Scheme, expected to attract ₹1.1 lakh crores in investment and create 45,000 jobs. The Government aims for self-reliance and global competitiveness in Renewable Energy manufacturing.

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India's solar PV module capacity surged to 67 GW in just over a decade, primarily due to the government's "Make in India" initiative and targeted support measures, such as the Production Linked Incentive (PLI) scheme, which incentivizes domestic manufacturing. This rapid growth has enabled India to not only meet its domestic solar energy needs but also position itself as a competitive player in the global market, potentially increasing exports. Moreover, this transition towards self-reliance in renewable energy manufacturing presents opportunities for innovation and leadership in clean energy technologies, aligning with global sustainability goals as well as further downfall in the price can be seen. The surge in capacity will lead to job creation approximately 45,000 direct jobs and substantial investments, enhancing the country's economic resilience.
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