Solar PV module production capacity in India 2023, by company

As of March 2023, Waree Energies was by far the largest manufacturer of solar photovoltaic modules in India, with an annual capacity of over 4.75 gigawatts. Vikram Solar was another big player in module manufacturing. The company based in Kolkata had an annual manufacturing capacity of roughly two gigawatts. As of January 2023, Gujarat was the leading state in India in terms of solar PV module manufacturing capacity.

Solar energy in India

Solar energy is the largest renewable energy source in India in terms of installed capacity. In 2022, the Asian country had more than 63 gigawatts of solar capacity installed. Although India failed to reach the 100 gigawatts targeted for 2022, the use of solar has grown considerably in the last few years. From 2020 to 2022, India’s solar installations increased by roughly 60 percent. Furthermore, India has set ambitious targets for 2030, planning to quadruple the existing capacity by that year. India’s large land area and sunny weather make it ideal for the deployment of solar technologies.

India’s renewable landscape

Apart from solar, India generates a substantial amount of energy from wind and hydropower sources. In 2022, wind power production in the Asian country stood at roughly 70 terawatt hours and the cumulative wind power capacity reached 42 gigawatts. In comparison with the growth seen in the solar photovoltaic sector, India’s wind capacity has remained relatively stagnant. Nevertheless, India plans to invest in wind energy in the next years and has set a target of 170 gigawatts of wind installed by 2030, over four times the current capacity.