India’s journey towards becoming a global clean energy leader is closely tied to the growth of solar manufacturing companies in India. As the country races toward its renewable energy goals — 500 GW of non-fossil fuel capacity by 2030 — the domestic solar manufacturing ecosystem has become a cornerstone in this transition.
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With abundant sunlight, favorable policies, and a growing demand for energy independence, the solar industry in India is thriving. From photovoltaic (PV) modules to solar cells and inverters, solar manufacturing companies in India are scaling up capabilities, enhancing quality, and innovating to meet both domestic and global demand.
Why Solar Manufacturing Is Important in India
1. Enhancing Energy Security
India’s heavy reliance on imported fossil fuels exposes it to global market volatilities. By developing a robust domestic solar manufacturing sector, India can reduce its dependence on energy imports, ensuring a more stable and self-reliant energy supply. This shift not only stabilizes energy prices but also fortifies national energy security.
2. Driving Economic Growth and Employment
The solar manufacturing industry is a significant driver of economic development. It creates a multitude of job opportunities across various sectors, including research and development, manufacturing, installation, and maintenance. Particularly in rural areas, solar projects can spur local economies and provide sustainable livelihoods.
3. Mitigating Climate Change
Expanding solar manufacturing aligns with India’s commitment to reducing greenhouse gas emissions. By increasing the production and deployment of solar technologies, India can significantly lower its carbon footprint, contributing to global efforts against climate change.
4. Reducing Import Dependency
Historically, India has relied on imports for solar components, particularly from countries like China. Developing domestic manufacturing capabilities decreases this dependency, safeguarding the industry against international supply chain disruptions and fostering self-sufficiency.
5. Supporting Government Initiatives
The Indian government has launched several schemes to promote solar manufacturing, such as the Production Linked Incentive (PLI) scheme. These initiatives aim to boost domestic production, encourage technological innovation, and make India a global hub for solar manufacturing.
6. Promoting Technological Advancement
Investing in solar manufacturing stimulates research and development in renewable technologies. This focus on innovation leads to the creation of more efficient and cost-effective solar solutions, positioning India at the forefront of renewable energy technology.
Government Initiatives Driving Solar Manufacturing
India’s ambitious vision to become a global leader in renewable energy, particularly solar, is strongly backed by a range of strategic government initiatives. These policies and programs not only promote clean energy adoption but also aim to make India a self-reliant solar manufacturing hub.
1. PLI Scheme (Production Linked Incentive)
The PLI scheme, a transformative initiative, has allocated over ₹24,000 crores to boost domestic manufacturing of high-efficiency solar PV modules. The scheme aims to add 65 GW of integrated solar PV manufacturing capacity and offers financial incentives based on efficiency, domestic value addition, and production output. It has attracted investments from major players like Reliance, Adani, Tata Power Solar, and Waaree, reducing reliance on imports and enhancing India’s manufacturing competitiveness. The initiative aims to establish a 65 GW integrated solar PV manufacturing capacity, reducing reliance on imports and promoting self-sufficiency in the solar sector.
2. Domestic Content Requirement (DCR)
The DCR mandates Indian manufacturers to supply a portion of solar components used in government-supported solar projects, including rooftop solar programs, PM-KUSUM projects, and residential installations through government subsidies, thereby strengthening local supply chains and generating demand for local manufacturers.
3. Basic Customs Duty (BCD)
The Indian government has imposed a 40% BCD on solar modules and a 25% BCD on solar cells starting April 2022 to boost domestic manufacturing. The move aims to make imported solar equipment less competitive, boosting local manufacturing. This move has led to a shift in procurement strategies by EPC players and developers, resulting in increased demand for Indian-made panels.
4. Pradhan Mantri Surya Ghar Muft Bijli Yojana
Launched in 2024, this scheme aims to empower 1 crore residential households by providing them with rooftop solar installations. With a budget of ₹75,021 crore, the initiative offers subsidies and concessional loans to households, enabling them to generate their own electricity and receive up to 300 units of free power monthly. This not only promotes solar adoption but also stimulates demand for domestically manufactured solar components.
5. Central Public Sector Undertaking (CPSU) Scheme Phase-II
The CPSU Scheme Phase-II focuses on setting up 12 GW of grid-connected solar PV power projects by government producers using domestically manufactured solar cells and modules. The scheme provides viability gap funding support, ensuring the financial feasibility of these projects. Recently, the Ministry of New & Renewable Energy (MNRE) granted a nine-month extension for the commissioning of certain projects under this scheme, acknowledging challenges such as limited availability of domestically produced photovoltaic modules and transmission infrastructure issues.
Top 10 Solar Manufacturing Companies in India (2025)
1. Tata Power Solar Systems Ltd.
Tata Power Solar is one of the most respected Solar Manufacturing Companies in India, with decades of industry leadership. Headquartered in Noida, Tata Power Solar boasts a manufacturing capacity of over 1.2 GW and has commissioned a new 4.3 GW cell-making plant in South India. Their Bangalore facility is among the most technologically advanced in the country. Known for producing high-efficiency mono PERC modules, the company is backed by the strong legacy and trust of the Tata Group.
2. Adani Solar
Adani Solar, a division of Adani New Industries Ltd., is a prominent name among Solar Manufacturing Companies in India. Based in Ahmedabad, Gujarat, it operates one of India’s largest integrated solar PV manufacturing plants with a capacity of 4 GW. With ambitious plans to expand to 10 GW by 2027, Adani Solar is unique for its in-house polysilicon and wafer manufacturing capabilities, setting it apart from many other Solar Manufacturing Companies.
3. Waaree Energies Ltd.
Waaree Energies stands out as one of the largest and fastest-growing Solar Manufacturing Companies in India, with a staggering capacity of 12 GW. Headquartered in Mumbai and manufacturing from Surat and Umbergaon, Waaree offers solar modules ranging from 10W to 600W. It has a wide dealer network and exports to over 68 countries. Recognized as a Tier-1 Bloomberg NEF manufacturer, Waaree leads in both innovation and global reach.
4. Vikram Solar
Kolkata-based Vikram Solar is a major global player and one of the most trusted Solar Manufacturing Companies in India. Specializing in high-efficiency mono PERC and bifacial modules, the company has a robust manufacturing presence in Kolkata and Chennai. Vikram Solar is also credited with establishing India’s first floating solar plant. It exports to over 30 countries and consistently ranks in the Bloomberg Tier 1 list.
5. RenewSys India
RenewSys India is one of the pioneering Solar Manufacturing Companies offering a fully integrated approach. A part of Reliance Industries, it manufactures solar PV modules, encapsulants, and backsheets. Based in Mumbai with a capacity of 2.75 GW, RenewSys plays a critical role in India’s solar ecosystem. Its backward integration and commitment to sustainable manufacturing place it among the top Solar Manufacturing Companies nationwide.
6. Goldi Solar
Goldi Solar, a Surat-based company, has emerged as one of the most dynamic Solar Manufacturing Companies in India. With a capacity of 2.5 GW, it focuses on rural, off-grid, and export markets. Goldi Solar produces affordable, durable modules such as the HELLO Pro and HELLO Plus series. Its reach spans more than 20 countries, further strengthening India’s position in the global solar supply chain.
7. Saatvik Green Energy Pvt. Ltd.
Saatvik Green Energy is quickly establishing itself as a competitive force among new-age Solar Manufacturing Companies in India. With a current capacity of 3.8 GW and plans to expand in Gujarat and Rajasthan, Saatvik offers premium polycrystalline and mono PERC modules. Its offerings extend to EPC services for large-scale projects, making it a preferred choice for both rooftop and utility solar deployments.
8. Rayzon Solar
Rayzon Solar, located in Surat, is another strong contender in the race among top Solar Manufacturing Companies. With a production capacity of 6 GW, Rayzon focuses on high-efficiency solar modules and robust export strategies. It’s known for environmental consciousness and sustainable innovation. As part of the Enpee Group, Rayzon’s vertical integration and technological prowess distinguish it in the Indian solar market.
9. Loom Solar Pvt. Ltd.
Loom Solar is a modern, digital-first company carving a niche for itself among innovative Solar Manufacturing Companies in India. With a focus on the rooftop solar segment, it offers mono PERC panels, lithium batteries, and inverters. Despite a modest manufacturing capacity of 100 MW, its D2C business model and tech-forward approach make it popular in rural and semi-urban areas across the country.
10. Solar Ace Energy
Solar Ace Energy, a part of Insolation Energy, is a rising name among customer-centric Solar Manufacturing Companies in India. Operating out of Ahmedabad and Jaipur, the company provides reliable solar panel solutions and strong after-sales service. While its manufacturing capacity isn’t publicly disclosed, Solar Ace is recognized for tailored solar installations for homes and businesses.
Export Potential of Indian Solar Manufacturing
India’s renewable energy ambitions are no longer confined to domestic needs. Over the past few years, Solar Manufacturing Companies in India have risen as global contenders in the solar export market. In 2025, their influence extends well beyond national borders, supplying high-quality solar products to several countries across continents.
Massive Growth in Solar Exports
India’s solar module production capacity is projected to exceed 20 GW in 2025, surpassing domestic demand and enabling increased exports. Policy support initiatives like the Production Linked Incentive scheme and the Approved List of Models and Manufacturers (ALMM) are bolstering India’s solar manufacturing sector, enhancing its global competitiveness. India’s solar module exports have skyrocketed, reaching USD 2 billion in FY2024, a growth of over 2900% in two years. The US market share for Indian solar modules reached over 97% in 2023, thanks to geopolitical concerns and ethical sourcing regulations. India is now exporting solar modules to countries like Brazil, Vietnam, the UAE, and various European nations.
Global Destinations for Indian Solar Exports
| Country | Share of Exports | Role of Solar Manufacturing Companies |
|---|---|---|
| United States | 97% | Major market due to diversification from China |
| Brazil | Increasing | Importing from Indian Solar Manufacturing Companies due to strong trade relations |
| Vietnam | Growing | Partnering with India for solar supply chain |
| UAE | Expanding | Sourcing solar modules for large-scale installations |
| Europe | Scaling | Importing quality modules from top Indian manufacturers |
Challenges Faced by Indian Solar Manufacturers
1. Dependence on Imported Components
Indian solar manufacturing companies, despite efforts to increase domestic production, still heavily rely on imported raw materials like polysilicon, wafers, and solar cells, primarily from China. This dependency not only increases production costs but also exposes them to global price fluctuations and supply chain disruptions. For instance, in fiscal year 2024, China supplied a significant portion of India’s solar industry imports, causing increased costs and potential supply interruptions.
2. Skilled Workforce Shortage
The Indian solar sector faces a significant skills gap, with many manufacturers relying on foreign training or expertise, affecting domestic growth. The sector’s rapid expansion has outpaced the availability of trained personnel, leading to Indian companies sending engineers abroad, particularly to China, for training in solar cell and wafer production.
3. Low Capacity Utilization
India’s solar module manufacturing capacity has grown significantly, but actual utilization rates remain low due to high input costs, cheaper imports, and lack of large-scale domestic orders. Domestic manufacturing currently operates at 40-45% capacity utilization, meeting only 35% of domestic demand. This underutilization is attributed to competition from cheaper imports and limited domestic demand.
4. Financial and Policy Challenges
The Production-Linked Incentive (PLI) scheme in India, aimed at boosting domestic manufacturing, has been hindered by delays in subsidy disbursements and unmet production targets. This has led to the scheme’s underperformance, affecting the financial viability of solar manufacturing projects, particularly among Indian solar manufacturing companies struggling with inconsistent policy frameworks.
5. Limited Research and Development
Indian manufacturers are struggling to compete globally due to a lack of investment in R&D, leading to outdated and less efficient technology. This lack of innovation is hindering their ability to access cutting-edge technologies and compete with global competitors in terms of efficiency and cost-effectiveness.
6. Infrastructure and Regulatory Hurdles
Indian solar manufacturing companies face challenges such as land acquisition delays, weak power evacuation infrastructure, and inadequate logistics, which increase project costs and discourage international and domestic buyers from engaging with them. These issues hinder the timely commissioning of solar projects, affecting the overall growth of the industry.
7. Quality Assurance and Standardization
India’s ongoing standardization and strict quality benchmarks could lead to inconsistent product quality, impacting export opportunities and domestic consumer trust. The absence of stringent quality control measures could lead to performance issues, negatively impacting the reputation of Indian solar manufacturing companies in both domestic and international markets.
8. Competition from International Players
Indian solar manufacturers face intense competition from global giants, particularly Chinese companies, who offer high-efficiency modules at lower prices. This competition, driven by economies of scale and advanced technologies, often leads to Indian companies reducing prices, often at the expense of margins and sustainability, making it challenging for them to sustain profitable operations without strong tariff support.
9. Environmental and Waste Management Concerns
India’s lack of robust policies for managing solar panel waste is posing environmental risks as solar adoption increases. A clear recycling and disposal roadmap is crucial for sustainability, as India’s current lack of comprehensive policies and infrastructure for end-of-life solar panels and related components is a significant issue.
10. Energy Storage and Grid Integration
The intermittent nature of solar energy necessitates efficient energy storage solutions and robust grid integration. India’s current storage infrastructure is inadequate, leading to challenges in maintaining a stable and reliable power supply, which in turn affects the adoption and scalability of solar energy solutions.
Opportunities Ahead
1. Rapid Expansion of Manufacturing Capacity
India has significantly ramped up its solar production capabilities. By December 2023, the country had achieved an annual capacity of 6 GW for solar cells and 37 GW for modules. Ambitious plans are in place to expand these to 25 GW and 60 GW, respectively, by 2025. This growth provides solar manufacturing companies with a strong foundation to meet both rising domestic demand and international export needs.
2. Government Initiatives Supporting Domestic Manufacturing
The Indian government is implementing targeted policies to promote local manufacturing. One notable example is the Approved List of Models and Manufacturers (ALMM), which from April 1, 2024, mandates the use of domestically produced panels in all government-supported solar projects. By June 2026, this requirement will extend to solar cells, boosting the demand and output of solar manufacturing companies across the country.
3. Emergence of Integrated Renewable Energy Complexes
Large conglomerates are establishing integrated renewable energy hubs that include solar panel manufacturing. A prominent example is Reliance Industries’ Dhirubhai Ambani Green Energy Giga Complex in Jamnagar, Gujarat. These state-of-the-art facilities will encompass production units for photovoltaic panels, energy storage, green hydrogen, electrolyzers, and more—creating new opportunities for collaboration and innovation among solar manufacturing companies.
4. Growing Global Demand for Solar Components
As countries worldwide accelerate their shift to renewable energy, Indian solar manufacturing companies are poised to become key global suppliers. With a focus on high-quality standards, efficient logistics, and competitive pricing, Indian manufacturers have the potential to dominate international markets and reduce global reliance on Chinese imports.
5. Attracting Foreign Investments and Strategic Partnerships
India’s favorable policies and growing market have made it a hotspot for foreign investments in solar. For instance, Rio Tinto’s partnership with India’s AMG Metals & Materials aims to create a low-carbon aluminium project powered by solar and other renewables. Such collaborations present major advantages for solar manufacturing companies, including access to cutting-edge technologies and expanded capital resources.
Role of Indian Solar Manufacturers in Net Zero Goal
1. Scaling Renewable Energy Capacity
India aims to achieve 500 GW of non-fossil fuel energy capacity by 2030, with solar energy playing a central role. Indian solar manufacturers are driving this transition by producing high-efficiency modules and components. India is ramping up its solar manufacturing capacity, with a significant portion driven by these companies. This increase in production capacity ensures solar energy becomes a major part of India’s energy mix, supporting the goal of net-zero emissions. Domestic solar manufacturing companies are instrumental in this expansion, providing the necessary infrastructure to meet national and international renewable energy demands.
2. Reducing Dependence on Imports
India is transitioning from a reliance on imported solar components to self-reliance, with companies like Adani and Reliance investing in integrated solar manufacturing facilities. This move strengthens the local economy and ensures energy security. Indian solar manufacturers are expanding local production of key components like panels, cells, and wafers, reducing import costs and contributing to a more self-sufficient energy system. Reducing import reliance is crucial for India’s sustainable energy future, and these manufacturers are leading the way in this transition.
3. Driving Technological Innovation
Indian solar manufacturers are enhancing their solar technology through research and development. They are utilizing advanced technologies like mono PERC and bifacial solar modules, which offer increased energy efficiency and higher power output. These innovations are lowering the cost of solar energy, making it more affordable and accessible. This makes solar a more competitive alternative to traditional energy sources, crucial for achieving net-zero emissions and making it a more viable alternative to traditional energy sources.
4. Supporting Economic Growth and Employment
India’s solar manufacturing industry is generating thousands of jobs across the entire value chain, from manufacturing to installation, maintenance, and research and development. As demand for solar energy increases, the need for skilled workers in the solar sector increases, creating sustainable livelihoods. This boosts India’s economy and aligns with global sustainability goals. Green jobs drive economic growth, promoting sustainable practices and achieving the net-zero target by integrating sustainability into the country’s economic framework.
5. Enhancing Global Competitiveness
India’s solar manufacturers are expanding their global presence by producing high-quality solar modules and components at competitive prices. This positioning strengthens India’s position as a global leader in clean energy, contributing to its net-zero ambitions and enhancing its reputation as a leader in green energy. As the world shifts towards green energy, India’s ability to supply solar products globally will enhance its role in addressing climate change and achieving net-zero emissions. Their focus on quality and innovation is crucial for India to become a global leader in clean energy solutions.
Conclusion: Shaping the Solar Future of India
Indian solar manufacturing companies are at the forefront of India’s renewable energy revolution, playing a pivotal role in the country’s journey to achieve net-zero carbon emissions by 2070. By increasing solar manufacturing capacities, innovating with advanced technologies, reducing reliance on imports, and creating jobs, these companies are helping accelerate the shift to a sustainable energy future. Their contributions not only support India’s domestic energy needs but also position the nation as a global leader in clean energy solutions.
The continued growth and development of solar manufacturing companies in India are crucial for meeting renewable energy targets, strengthening energy security, and boosting economic development. As we move toward a greener and more sustainable future, the role of solar manufacturing companies will only become more significant, and their contributions will be vital in realizing the ambitious net-zero goal.
As India continues to embrace clean energy, the demand for high-quality solar products will only increase. If you’re interested in learning more about how solar manufacturing companies can help your business or home transition to renewable energy, contact us today! Explore innovative solar solutions and take the first step toward a sustainable, eco-friendly future. At Soleos Solar, we are committed to providing cutting-edge solar products and services that support India’s clean energy goals. Reach out to us now for a consultation and join the renewable energy movement!
FAQs
Q1. What are solar manufacturing companies?
A: Solar manufacturing companies are businesses that design, produce, and distribute solar energy components like photovoltaic (PV) panels, solar cells, inverters, and other related equipment. These companies are integral to the solar industry, providing the necessary infrastructure for solar energy generation.
Q2. How do solar manufacturing companies contribute to India’s net-zero goal?
A: Solar manufacturing companies play a critical role in helping India achieve its net-zero emissions target. By increasing the domestic production of solar panels, cells, and other components, these companies reduce the reliance on fossil fuels and enhance the adoption of renewable energy, contributing significantly to India’s carbon reduction efforts.
Q3. What challenges do solar manufacturing companies in India face?
A: Solar manufacturing companies in India face several challenges, including rising raw material costs, competition from imported solar products, and limited domestic supply chains. However, government initiatives like the Production-Linked Incentive (PLI) scheme and tariffs on imported solar products are helping to overcome these obstacles and boost local manufacturing capabilities.
Q4. How are solar manufacturing companies helping to reduce India’s reliance on imported solar products?
A: By increasing the domestic manufacturing of solar panels and components, solar manufacturing companies in India are reducing the country’s reliance on imports. This shift not only strengthens India’s energy security but also lowers costs, making solar energy more affordable for consumers and businesses alike.
Q5. How do government policies support solar manufacturing companies in India?
A: Government policies such as the Approved List of Models and Manufacturers (ALMM) and the Production-Linked Incentive (PLI) scheme are pivotal in supporting solar manufacturing companies in India. These initiatives provide financial incentives, promote domestic production, and reduce reliance on imported solar products, helping to make Indian manufacturers more competitive on the global stage.
