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This industry may change drastically! Made in India products can rule the market – Times Bull

This industry may change drastically! Made in India products can rule the market

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Solar Industry : The central government has made a significant move towards achieving self-sufficiency in the solar energy industry. Post-June 2026, solely solar modules or solar cells manufactured in India will be utilized in any solar initiative (government or private) established within the nation. To achieve this, the government has implemented essential measures by enforcing obligatory changes in the Approved Modules and Manufacturers of Solar Photovoltaic Order (ALMM-2019).

 

The Ministry of New and Renewable Energy has stated that this amendment will serve as a significant advancement for the Indian solar energy industry and in the direction of embracing clean energy. It has published the long-anticipated list of companies that manufacture solar TV cells within the ALMM framework. After June 2026, solar modules and cells will only be provided to the companies on this list. The government has announced that solar power equipment for projects supported by the government, net metering initiatives, and open access renewable energy projects must exclusively be acquired from firms on this list. The government had not disclosed this list until now due to the low number of companies producing solar cells in the country and uncertainty about their ability to fulfill the demand for local projects.

 

However, following an extensive due diligence process conducted by the government and evaluating the productivity and quality of these firms, there is confidence that the domestic industry can fulfill the necessary demand. Additionally, it has been noted that India is prepared to create a worldwide solar supply chain. This will further enhance India’s energy security and decrease reliance on imports. As per government statistics, during the first six months of 2024, India has brought in solar modules with a capacity of 13,200 MW. This represents a 338 percent increase compared to the previous year. While during the same period, the import of solar cells has increased by 155 percent. In the year 2023-24, India imported solar cells worth Rs 51,460 crore and about 90 percent of it came from China.

 

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