India plans to export 60 GW of solar modules annually by 2026

India aims to have about 100 gigawatt (GW) solar PV module manufacturing capacity by 2026, while its domestic requirement is 30-40 GW.

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India is likely to become a leading global supplier of renewable energy equipment in the coming years. The Ministry of New and Renewable Energy (MNRE) plans to export 60 gigawatts (GW) of solar modules annually by 2026.

Mr. Bhupinder Singh Bhalla, New and Renewable Energy Secretary stated, “We expect to have 100 GW module capacity by 2026 and our requirement is 30-40 GW. So, we will have the capacity to export 60 GW or more by 2026.” 

Currently, India has manufacturing capacities of 28 GW of solar modules, 6 GW of solar cells and 15 GW of wind energy (turbine). Rs 24,000 crore PLI scheme, would enable the country to add 48 GW new manufacturing capacity in the next three years.

The global confidence in India’s vision and capacities is building up. The Secretary informed that India has attracted about US$78 billion in investment, including more than US$10 billion as Foreign Direct Investment.

India has the world’s fourth-largest RE capacity at 178 GW. It aims to have 50% of its power generation capacity from non-fossil fuel sources like solar, wind energy and green hydrogen. The country has set a target of achieving 500 GW by 2030.

It may be noted that India had earlier levied a customs duty of 40% on solar modules and 25% on solar cells in April 2022 with an aim to encourage domestic manufacturing while curbing imports.