India’s Solar Energy Boom: Unprecedented Growth in Module and Cell Manufacturing

🔹 Massive Growth in Solar Energy Sector:
India’s solar module manufacturing capacity has surged 9 times in the last four years, reaching 60 GW from just 7 GW in 2020. According to CRISIL Ratings, solar cell manufacturing capacity is expected to grow fivefold to 50-55 GW by FY 2026-27.

🔹 Towards Self-Reliance in Solar Manufacturing:
With expanding domestic manufacturing, solar module imports now account for only 25% of total consumption, down from 45% a year ago. However, solar cell imports remain high at 80%.

🔹 Massive Investments and Export Focus:
India’s top four domestic manufacturers are set to invest ₹30,000 crore in expanding solar manufacturing, positioning India as a major exporter of solar equipment. Leading companies like Reliance, Tata Power, Adani Solar, Vikram Solar, and Waaree Energies are ramping up their solar cell and module production capacities.

🔹 Solar PV Module Exports Soar 23 Times:
Between FY 2022 and FY 2024, India’s solar PV module exports surged 23 times to $2 billion (₹17,500 crore), with significant export potential to the US and other global markets.

🔹 85 Lakh Jobs by 2050 in Green Energy Sector:
India’s green energy sector employed over 10 lakh people in 2023, with the workforce expected to exceed 85 lakh by 2050, creating immense job opportunities.

🔹 Record Growth in Rooftop Solar Scheme:
The PM Surya Ghar Muft Bijli Yojana, the world’s largest rooftop solar initiative, aims to connect 1 crore households by March 2027. In just 10 months, 7 lakh households have already been covered.

🔹 Indian Companies Expanding into the US Market:
India could benefit from the US-China tariff war, as Waaree Energies and Vikram Solar plan to establish solar manufacturing facilities in the US.

🔹 India: The World’s 3rd Largest Solar Power Hub:
India’s solar energy capacity has surpassed 100 GW, compared to just 3 GW in 2014, making it the third-largest solar power producer after China and the US.

🌍 Key Points for UPSC and Other Competitive Exams:

✅ India’s Solar Module Capacity: 60 GW
✅ Projected Solar Cell Capacity (FY 2026-27): 50-55 GW
✅ India’s Solar PV Exports Growth: 23x, reaching $2 billion
✅ Projected Green Energy Jobs by 2050: 85 lakh+
✅ Rooftop Solar Scheme Target: 1 crore households (by March 2027)
✅ India’s Global Position: 3rd Largest Solar Energy Producer

💡 This article is highly useful for UPSC, MPPSC, Banking, SSC, Railway, and other competitive exam aspirants. Stay updated with the latest current affairs on Atharva Examwise and boost your exam preparation! 🚀

By : team atharvaexamwise