Top Solar Module Manufacturers Leading India’s Energy Revolution

Top Solar Module Manufacturers Leading IndIa’s Energy Revolution The solar module is the most important resource for expanding renewable energy.

It is now the largest contributor to India’s renewable power generation capacity, ranking ahead of wind energy.

The Ministry of New and Renewable Energy (MNRE) has updated its data to show that the country had a cumulative renewable energy capability of 132.15GW as of February 29, 2020. There was an additional capacity of 46.69GW at various stages of implementation and 34.07GW at various stages of bidding. Grid-connected solar power capacity stands at 35.07GW. There are 21.35GW currently in implementation and another 31.27GW at different stages of tendering.

While the solar module manufacturers in India are growing at a rapid pace, almost 70% of its demand is met by imports from China or other foreign markets. The Indian Government plans to rapidly transition to a more local-dependent market, and reduce imports from China and other foreign suppliers. New announcements were made in line with this plan. They will increase import duties on Chinese imports to 40 percent of the module’s cost. This is a heavy import duty that may be a boost to local manufacturers.

However, for 2019, the safeguard duty was in effect with import rates at 15 percent. The total module supply to the market is estimated to be approximately 8,366MW. We take a look at Solar module manufacturers in India • Risen

Energy Risen Energy, a Chinese brand, was the top module supplier on India’s market in 2019. Risen Energy finished the year with an 11.6% share of the Indian market.

This puts it just behind Waaree, a local manufacturer. According to Bridge to India research, the company remained at the top for the second year in a row.

• Jakson

Group The Jackson Group was established in the year 1947 as a diesel gensets manufacturing company. Now the company is has come a long way as has received several awards for its contribution to solar energy. The company has made it to the list of top 10 solar panel manufacturers in 2021.

• Waaree

Waaree, a Mumbai-based solar cell manufacturer in India, snatched a 10.6 percent share of the market in 2019, placing second behind Risen Energy. It did however beat Adani and Vikram Solar to take the top spot as the local module supplier.

• Znshine

Sunshine, another Chinese manufacturer, is the third supplier. Sunshine occupied the third spot with a 9.6 percent share of the market. The firm lost a lot of market share in 2019, though its exports to India fell to over a gigawatt in 2018, to 800 MWs in 2019.

• Vikram

Solar Vikram Solar, a Kolkatta-based solar cell manufacturer in India, is fourth on the list. It just narrowly lost out to Sunshine in the top three suppliers. It lost the top three places by an average of 8-10MWs as it occupied a market share that was 9.6 percent, compared to Znshines’ 9.6. The firm received a 300 MW solar plant from NTPC, and will likely remain at the top of this list in 2020.

• Adani

Adani, which accounted for 9.5 percent of the company’s market share, came in second behind Vikram solar. Adani is perhaps the largest IPP and project developer in India. Its indulgence in manufacturing, buoyed recently by its win in the first solar cell manufacturers in India (an annual mandatory manufacturing capacity of 2000MW), could make it challenging for the top spot.

• Trina

Solar Trina Solar will be the first of five Chinese companies to close the top 10 solar panel manufacturers in India. Trina Solar took an 8.5 percent share of the Indian market and finished sixth in 2019. The company is believed to have been leading the Indian market in the first half of 2018 but lost the race to the end.

• Renesola

Renesola, which accounted for a sixth of the market in 2019, is next on the list. It ranks seventh behind Trina Solar. At the end of 2019, the Chinese manufacturer had reached the 20 GW milestone in global solar panel manufacturing.

• JinkoSolar

JinkoSolar ranked eighth with a market share of 4.6 percent in solar panel manufacturing. Although not the best position for the supplier leader, JinkoSolar has made a strong start to 2020. According to JMK Research, the manufacturer was India’s leading supplier of solar modules in the first quarter of 2020.

• LONGi

Solar LONGi Solar, one of the most prominent manufacturers of monocrystalline solar modules and cells in the world, was the only 9th on the list of India’s top suppliers for 2019. LONGi Solar managed to capture a mere 4.5 percent market share, but it will be hoping to increase that percentage in 2020 as it signed a multi-year module supply agreement of 1.2 GW with Adani Green Energy.

• Canadian

Solar The seventh module manufacturer from China, Canadian Solar, rounds out the top 10. In 2019, the firm had a 3.8% share of India’s market. The firm held a 3.8 percent share of the Indian market in 2019. In April, it stated that the coronavirus epidemic had had a limited impact on its production facilities in China. It is expected to have a larger share of the market in 2020.