Que: 2023: Unveiling Business Odyssey

Ans: In 2023, Rayzon Solar has launched the Mono PERC All Black Module (up to 545 Wp power rating) and also the TOPCon module (570 – 585 Wp power rating). We have installed a new 600 MW fully automated production line at our factory with an integrated online testing facility and a separate PDI facility for pre-dispatch inspections as per customer requirements. The new line has the capability to manufacture TOPCon modules using 16BB solar cells. Also, with the focus on ensuring the reliability of the raw materials and the finished product, an extensive test facility is being set up, including climatic chambers, UV test chambers, Pressure Cooker Test chambers, PID tester, automatic cell peel testers, volume resistivity tester, etc.

In 2023, Rayzon Solar successfully launched a state-of-the-art 600 MW fully automated production line, now in full operation. This cutting-edge line boasts the ability to produce TOPCon modules using M10 solar cells up to 16BB. With the incorporation of this new line, the overall plant capacity has surged to an impressive 1.8 GW. This advanced setup comprises an ATW high-speed fully automated stringer equipped with integrated cell cutting, a Visual Laminator, ASIC EL technology, HSPV Sun simulator, and Gaorun Automation, showcasing Rayzon Solar's commitment to innovation and efficiency in solar panel manufacturing.

Que: 2024: Unlocking New Horizons

Ans: In the upcoming year, Rayzon aims to introduce new TOPCon models, reaching up to 635 Wp in Monofacial and Bifacial designs featuring transparent back sheets and glass to glass technology. These advancements are projected to secure 3x IEC certification for 585 Wp models by March 2024. Additionally, the company intends to secure ALMM approval to escalate production capacity from 2.4 GW to further by 2024. To enhance testing capabilities, Rayzon plans to incorporate a DMLT tester, increase environmental chamber capacity, and introduce a full-size module UV testing chamber in their lab. Furthermore, plans are underway to obtain NABL accreditation for the reliability lab in 2024.

The expansion strategy for 2024 includes increasing capacity to 4 GW in India and 500 MW in the USA. The ultimate target is to achieve a total capacity of 5.0 GW by the conclusion of 2025. Rayzon also envisions establishing a 1.0 GW TOPCon cell manufacturing plant by 2025, showcasing the company's commitment to sustained growth and innovation in the solar industry.

Que: Navigating Growth: Ushering in New Trends

Ans: India’s solar power capacity has grown almost 11 times in the 5-year span of 2017 – 2022 and is expected to grow even faster in the coming years to keep up with the government’s target of 500 GW of renewable energy capacity by 2030. The market size is estimated to grow at a CAGR of 34.24 percent between 2022 and 2027. The Indian Government is also providing full support for the growth of the solar industry through incentives like the PLI scheme and the ALMM scheme. India has been ranked 3rd (after US and China) in the Renewable Energy Country Attractiveness Index (RECAI) released by Earnst & Young, which ranks the country’s attractiveness for investments in the renewable energy sector. So, overall the solar sector is making great progress and is poised to become the largest energy-related sector in India in the long term.

Some key trends driving the growth of the Indian solar industry include decreasing solar panel costs, supportive government policies, favourable weather conditions, increased private investment, increased flexibility in deploying solar PV systems (like floating solar), global focus on de-carbonisation of the world economy.