The Aryavarth Express
Agency(New Delhi): India has marked a significant milestone in its renewable energy sector, as shared by the Union Minister for New & Renewable Energy and Power, Shri R. K. Singh. The country has achieved self-sufficiency in the production of solar modules, although it is still working towards substantial capacity in solar cell manufacturing.
In the financial year 2022-23, India added approximately 12.78 GW to its solar power generation capacity. The country’s installed capacity for solar photovoltaic (PV) module manufacturing is around 50 GW, as per data from the Approved List of Models and Manufacturers (ALMM) and independent assessments by the National Institute of Solar Energy (NISE). Industry feedback indicates that the installed capacity for solar cell manufacturing is about 6 GW.
India’s progress in the solar energy sector is further highlighted by its export performance. In 2022-23, the country exported solar panels worth $1.03 billion, showcasing its growing presence in the global renewable energy market.
Over the last five years, India has imported solar cells and modules worth around $11,171 million USD, constituting approximately 0.4% of the country’s total merchandise imports during the same period. The major contributors to these imports have been countries like China, Malaysia, and Thailand.
The change in HS Codes for solar PV cells and modules in recent years reflects the evolving nature of the solar energy industry and its categorization in international trade. The Union Minister’s statement underscores India’s commitment to expanding its renewable energy capabilities, particularly in solar power, and its successful efforts in becoming a significant player in the global solar market.