Chapter 1
India’s solar manufacturing industry is expected to undergo significant changes by 2030. The industry is likely to become more integrated, technology-driven and globally competitive as manufacturers respond to changing market requirements and advances in solar technology.
One of the biggest trends will be greater integration across the solar manufacturing value chain. India is expected to develop stronger capabilities in wafers, cells and modules, creating a more connected domestic manufacturing ecosystem. Companies with operations across multiple stages of production could gain greater control over costs, quality and technology.
Higher-efficiency solar technologies are also expected to become increasingly important. Manufacturers are likely to adopt advanced cell technologies and improved production processes to deliver higher-performing modules. As technology continues to evolve globally, regular upgrades to manufacturing facilities will become increasingly important for maintaining competitiveness.
Domestic supply chains are expected to become deeper and more diverse. India is likely to see increased production of components, materials and equipment used in solar manufacturing. A wider domestic supplier base could provide manufacturers with greater access to critical inputs while increasing the share of value generated within the country.
Solar demand is also expected to become more diverse by 2030. Utility-scale projects will continue to account for a significant share of deployment, while rooftop solar, commercial and industrial projects and hybrid renewable energy systems are likely to expand. Emerging applications such as data centres and green hydrogen could also create new opportunities for solar manufacturers as their renewable electricity requirements grow.
Exports are expected to become an increasingly important part of India’s solar manufacturing industry. Manufacturers are likely to expand into a wider range of international markets, including Europe, the Middle East and Africa. Competing across these markets will require Indian companies to meet different technical standards, product specifications and customer requirements while maintaining competitive costs, product quality and delivery capabilities.
Automation and digital technologies are expected to become more common across solar manufacturing facilities. Automated production lines, digital quality-control systems, real-time monitoring and data analytics can improve production consistency and operational efficiency. As manufacturing facilities become larger and more sophisticated, these technologies are likely to play a greater role in managing production and maintaining product standards.
The industry is also likely to see greater consolidation by 2030. Larger manufacturers with integrated operations, modern technologies and efficient production systems could gain an advantage as competition increases. Smaller manufacturers may increasingly adopt newer technologies, specialise in specific segments or expand their manufacturing capabilities to remain competitive.
Another trend will be greater emphasis on the productive use of manufacturing capacity. Manufacturers are likely to place greater importance on production planning, facility utilisation and the ability to respond to changes in domestic and international demand. Efficient use of manufacturing facilities will become increasingly important as competition within the industry grows.
By 2030, India’s solar manufacturing industry is expected to have a broader domestic value chain, more advanced technologies, greater automation and a stronger presence in international markets. The sector is also likely to serve a wider range of applications as solar power becomes increasingly connected with green hydrogen, data centres, storage and hybrid renewable energy.
India’s solar manufacturing industry is therefore expected to become more integrated, technologically advanced and globally connected by 2030. The companies best positioned in this environment are likely to be those that combine modern technology and efficient production with the ability to serve both domestic and international markets.
About Ratul Puri
Ratul Puri is the Chairman of Hindustan Power, an integrated power generation company with a strong presence in renewable and transitional energy generation. Over the years, Chairman Ratul Puri has been involved in the development of large-scale energy infrastructure projects that support India’s growing power requirements and its transition toward cleaner energy sources.
