How many solar cells can India produce in 2026?

As of June 2024, India had a solar cell manufacturing capacity of 7.6GW, less than 10% of its 77.2GW module production capacity. However, market research firm Mercom India estimates that the country will make a significant leap to over 80GW of cell capacity by 2026.

How much cell capacity will India have by 2026?

However, market research firm Mercom India estimates that the country will make a significant leap to over 80GW of cell capacity by 2026. This figure will represent nearly 50% of the projected 172GW module capacity in operation by that year.

How much will India pay for solar power projects in 2026?

In 2014, India launched the Development of Solar Parks and Ultra Mega Solar Power Projects, aiming to add 40 GW of PV installed capacity by the 2026 fiscal year (ending March 31, 2026). Under the plan, each MW can receive a subsidy of INR 2 million (approximately USD 24,000) or 30% of the total project cost, whichever is lower.

What is India imposing on imported solar products in 2022?

In 2022, India introduced a Basic Custom Duty (BCD) on imported solar products, imposing 25% on cells and 40% on modules. Additionally, the Production Linked Incentive (PLI) scheme, approved in 2021, allocated INR 240 billion (USD 2.88 billion) in finding across two tender phases to support solar production.

Will moderation in solar PV cell and module prices improve re capacity?

The moderation in solar PV cell and module prices, along with the extension in the timeline and ALMM relaxation valid till March 31, 2024, is expected to improve the RE capacity addition in FY2024 to over 20 GW from 15 GW in FY 2023, largely driven by the solar power segment.

Why are solar PV module prices so high?

Earlier, the prices were driven up by a sharp increase in the price of polysilicon, a key input for cell and module manufacturers, and disruption in operations across the value chain of solar PV module manufacturing in China.