As per Mercom Capital, India's capacity to produce solar modules is anticipated to reach 95 GW by the end of 2025. According to the research company, the capacity for producing solar modules as of September of last year was 39 gigawatts (GW). The research titled "State of Solar PV Production in India" stated that India's solar module manufacturing capacities "announced 39 GW at the end of September 2022 and is expected to reach roughly 95 GW by the end of the calendar
year (CY) 2025." On the back of government incentive programmes, Indian PV (photovoltaic) manufacturers are strategically positioned to increase their production capabilities and embrace new technologies in the future years. According to the report, states are advancing domestic solar manufacturing through fiscal and non-fiscal incentives under laws pertaining to industry, electronics, and solar power.
In an effort to draw in Rs 94,000 crore in investment, the Cabinet authorised a Rs 19,500 crore production linked incentive (PLI) scheme on the "national programme on high efficiency solar PV modules" in September 2022.
"The PLI initiative is an additional effort to improve vertical integration of newly added capacity and technology. By the end of the decade, India would need to instal 220 GW of solar capacity, which will necessitate a considerable expansion of its manufacturing capacity "Managing Director of Mercom India, Priyadarshini Sanjay, said. A renewable energy research and communications company with experience in the cleantech sectors is the US-based Mercom Capital Group.
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