As of 2024, India’s solar manufacturing capacity is growing significantly. The country’s solar PV module production capacity has reached about 40 GW annually, with major companies like Adani Solar, Vikram Solar, and RenewSys, premier energy etc leading the charge. Several more expansions are expected, with the goal of ramping up capacity even further in the coming years.
On the demand side, India’s solar power installation target for 2024 is estimated at 20 GW annually, driven by government initiatives to boost renewable energy adoption as part of its 500 GW renewable energy target by 2030. Now rest of the calculations you can do easily.
So as per the India’ s targeted installed capacity is fairly balanced with new plants. However, internationally indian manufactured Solar panel demand is rising as US and other countries put ban on Chinese solar panel. So personally I am very bullish on this sector.
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