India Attains Solar Panel Self-Sufficiency; USD 1.03B Solar Panels Exported in 2022-23
According to the minister's statement, India's solar power generation capacity witnessed a remarkable addition of approximately 12.78 gigawatts in the financial year 2022-23.
February 08, 2024. By Abha Rustagi
According to the minister's statement, India's solar power generation capacity witnessed a remarkable addition of approximately 12.78 gigawatts in the financial year 2022-23. The installed capacity for solar PV module manufacturing in the country stands at around 50 gigawatts, with an additional installed capacity of approximately 6 gigawatts for solar cell manufacturing.
While self-sufficiency has been achieved in solar panel production, the country is yet to achieve substantial capacity in solar cell manufacturing, the minister clarified.
The data presented by the minister also highlighted the import and export trends of solar cells and modules over the past five years. Import figures indicate that around USD 11.171 billion worth of solar cells and modules were imported into India during this period, accounting for approximately 0.4 percent of the country's total merchandise imports. The export data revealed a significant increase in exports, with solar cells and modules worth USD 1.03 billion being exported in the fiscal year 2022-23 alone.
The achievement of self-sufficiency in solar panel production aligns with India's commitment to renewable energy transition and its efforts to reduce dependence on fossil fuels. It also underscores the country's growing prominence as a global player in the renewable energy sector. The minister's remarks were made in response to a question posed in the Rajya Sabha.
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