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Mercom India’s State of Solar PV Manufacturing in India H1 2026 report shows the country brought online 50.6GW of module production capacity and 9.7GW of cell production capacity during the first six months of 2026.
The same research firm found that 27GW of solar generation capacity was installed in that half-year period, a record figure and a 49% rise from the 18GW recorded in the corresponding period of 2025.
That surge came on the back of an unprecedented opening quarter, in which 15.3GW of solar generation capacity was added during Q1 2026. This represented a 143% year-on-year jump from 6.3GW in Q1 2025 and a 49% sequential gain over the 10.3GW logged in Q4 2025, per Mercom data published in May 2026.
By June 2026, cumulative annual module production capacity had climbed to 261.7GW, while annual cell production capacity reached 36.6GW. Of the cumulative module figure, 225.5GW fell under the Approved List of Models and Manufacturers List-I, whereas List-II encompassed close to 35.5GW of cell production capacity.
Tunnel oxide passivated contact technology dominated ALMM-listed module production capacity as of June 2026, holding an 80% share. Monocrystalline passivated emitter and rear cell combined with tunnel oxide passivated contact took 11%, trailed by monocrystalline passivated emitter and rear cell at 4%, heterojunction technology at 3%, and thin-film at 2%.
Gujarat retained its position as the leading manufacturing hub, contributing close to 45% of the nation’s module production capacity and over 36% of its cell production capacity. Rajasthan and Tamil Nadu occupied second and third places for modules, with 26.1GW and 23.4GW respectively.
In cells, Gujarat again topped the table with 37% of annual production capacity, followed by Tamil Nadu at 4.3GW and Telangana at 4.2GW. Production capacity also stayed heavily concentrated among large players, with the ten biggest manufacturers holding 60% of the country’s total module production capacity.
Imports of solar cells and modules into India rose 18% during the first half of 2026 relative to the same period a year earlier. Cells made up 81% of the total, with modules accounting for the remaining 19%.
The United States was the destination for 92% of India’s solar cell and module exports in that half-year, remaining the single largest market. This position faces potential disruption from the US Department of Commerce’s final anti-dumping and countervailing duties on crystalline silicon photovoltaic cells of Indian origin, unveiled earlier in September 2026, which impose a combined 249.13% rate on Indian manufacturers. That figure consists of a 123.04% final dumping margin plus a 126.09% countervailing duty.
A September 2026 report from IEEFA and JMK Research & Analytics put India’s solar module production capacity at roughly 233GW, with plants running at an estimated 35-40% utilisation. The same report identified an additional 135GW of module capacity in the pipeline, supported by firm investment commitments and near-certain commissioning schedules.
Mercom also noted that average selling prices for Indian monocrystalline passivated emitter and rear cell modules slipped 1.8% on a quarter-over-quarter basis.
As of June 30, 2026, India’s installed renewable power generation capacity stood at 288GW, representing roughly 54% of total installed energy capacity, according to the JMK Research & Analytics Q2 2026 India RE Update published in August 2026.
Solar contributed 162GW, or 56%, of installed renewable generation capacity, with wind at 57GW and large hydro at 52GW. Approximately 149GW of renewable power generation projects spanning solar, wind, hybrid and storage were in the pipeline as of June 30, with commissioning anticipated over the next four to five years. Another 48GW sat in the bidding stage, where tenders have been issued but auctions have not yet concluded.
India’s renewable energy transition, covering everything from solar photovoltaic and energy storage to grid integration, will feature prominently at the Renewable Energy India Expo, held alongside the Energy Storage Summit India in Greater Noida from 22-24 October 2026.
Interactive table based on the Store Companies dataset for this report.
This report is an independent strategic market study that provides a structured, commercially grounded analysis of the market for Solar Cells and Module in India. It is designed for battery and storage manufacturers, power-electronics suppliers, system integrators, EPC partners, developers, utilities, investors, and strategic entrants that need a clear view of deployment demand, technology positioning, manufacturing exposure, safety and qualification burden, project economics, and competitive structure.
The analytical framework is designed to work both for a single specialized storage or conversion component and for a broader renewable energy generation component, where market structure is shaped by chemistry, duration, project economics, system integration, safety requirements, route-to-market, and grid-interface logic rather than by one narrow customs heading alone. It defines Solar Cells and Module as Semiconductor devices that convert sunlight directly into electricity, manufactured as individual cells and assembled into modules (panels) for integration into solar power systems and examines the market through deployment use cases, buyer environments, upstream input dependencies, conversion and integration stages, qualification and safety requirements, pricing architecture, commercial channels, and country capability differences. Historical analysis typically covers 2012 to 2025, with forward-looking scenarios through 2035.
This report is designed to answer the questions that matter most to decision-makers evaluating an energy-storage, battery, renewable-integration, or power-conversion market.
At its core, this report explains how the market for Solar Cells and Module actually functions. It identifies where demand originates, how supply is organized, which technological and regulatory barriers influence adoption, and how value is distributed across the value chain. Rather than describing the market only in broad terms, the study breaks it into analytically meaningful layers: product scope, segmentation, end uses, customer types, production economics, outsourcing structure, country roles, and company archetypes.
The report is particularly useful in markets where buyers are highly specialized, suppliers differ significantly in technical depth and regulatory readiness, and the commercial landscape cannot be understood only through top-line market size figures. In this context, the study is designed not only to estimate the size of the market, but to explain why the market has that size, what drives its growth, which subsegments are the most attractive, and what it takes to compete successfully within it.
The report is based on an independent analytical methodology that combines deep secondary research, structured evidence review, market reconstruction, and multi-level triangulation. The methodology is designed to support products for which there is no single clean official dataset capturing the full market in a directly usable form.
The study typically uses the following evidence hierarchy:
The analytical framework is built around several linked layers.
First, a scope model defines what is included in the market and what is excluded, ensuring that adjacent products, downstream finished goods, unrelated instruments, or broader chemical categories do not distort the market boundary.
Second, a demand model reconstructs the market from the perspective of consuming sectors, workflow stages, and applications. Depending on the product, this may include Grid-connected solar farms, Commercial rooftop installations, Residential solar systems, Industrial self-consumption projects, Off-grid electrification, and Solar-powered consumer electronics and mobility across Power Generation (Utilities/IPPs), Commercial Real Estate, Industrial Manufacturing, Residential Construction, Telecommunications, and Public Infrastructure and Technology R&D and Pilot Lines, Capacity Planning and CAPEX Deployment, Supply Chain Sourcing and Qualification, Manufacturing Process Optimization, Quality Assurance and Certification, Sales Channel and Distribution Setup, and Project Design and System Integration. Demand is then allocated across end users, development stages, and geographic markets.
Third, a supply model evaluates how the market is served. This includes Polysilicon, Silicon Wafers (Mono Grown, Cast Multi), Solar Glass, Encapsulation Materials (EVA, POE), Backsheets, Frames (Aluminum), Silver Paste & Conductive Adhesives, and Specialty Gases and Chemicals, manufacturing technologies such as Passivated Emitter and Rear Cell (PERC), Tunnel Oxide Passivated Contact (TOPCon), Heterojunction Technology (HJT), Interdigitated Back Contact (IBC), Bifacial Module Design, Half-Cell and Shingled Cell Interconnection, and Advanced Module Encapsulation and Framing, quality control requirements, outsourcing, contract manufacturing, integration, and project-delivery participation, distribution structure, and supply-chain concentration risks.
Fourth, a country capability model maps where the market is consumed, where production is materially feasible, where manufacturing capability is limited or emerging, and which countries function primarily as innovation hubs, supply nodes, demand centers, or import-reliant markets.
Fifth, a pricing and economics layer evaluates price corridors, cost drivers, complexity premiums, outsourcing logic, margin structure, and switching barriers. This is especially relevant in markets where product grade, purity, customization, regulatory burden, or service model materially influence economics.
Finally, a competitive intelligence layer profiles the leading company types active in the market and explains how strategic roles differ across upstream material suppliers, component and controls providers, OEMs, storage-system integrators, EPC partners, project developers, and distribution or service channels.
This report covers the market for Solar Cells and Module in its commercially relevant and technologically meaningful form. The scope typically includes the product itself, its major product configurations or variants, the critical technologies used to produce or deliver it, the core input categories required for manufacturing, and the services directly associated with its commercial supply, quality control, or integration into end-user workflows.
Included within scope are the product forms, use cases, inputs, and services that are necessary to understand the actual addressable market around Solar Cells and Module. This usually includes:
Excluded from scope are categories that may be technologically adjacent but do not belong to the core economic market being measured. These usually include:
The exact inclusion and exclusion logic is always a critical part of the study, because the quality of the market estimate depends directly on disciplined scope boundaries.
The report provides focused coverage of the India market and positions India within the wider global energy-storage and renewable-integration industry structure.
The geographic analysis explains local deployment demand, domestic capability, import dependence, project-development relevance, safety and approval burden, and the country’s strategic role in the wider market.
This study is designed for strategic, commercial, operations, project-delivery, and investment users, including:
In many energy-transition, storage, power-conversion, and project-driven markets, official trade and production statistics are not sufficient on their own to describe the true market. Product boundaries may cut across multiple tariff codes, several product categories may be bundled into the same official classification, and a meaningful share of activity may take place through customized services, captive supply, platform relationships, or technically specialized channels that are not directly visible in standard statistical datasets.
For this reason, the report is designed as a modeled strategic market study. It uses official and public evidence wherever it is reliable and scope-compatible, but it does not force the market into a purely statistical framework when doing so would reduce analytical quality. Instead, it reconstructs the market through the logic of demand, supply, technology, country roles, and company behavior.
This makes the report particularly well suited to products that are innovation-intensive, technically differentiated, capacity-constrained, platform-dependent, or commercially structured around specialized buyer-supplier relationships rather than standardized commodity trade.
The report typically includes:
The result is a structured, publication-grade market intelligence document that combines quantitative modeling with commercial, technical, and strategic interpretation.
Energy-Storage Market Structure and Company Archetypes
Part of Adani Group; one of India's largest integrated solar manufacturers.
India's largest solar module exporter; capacity over 12 GW.
Leading module producer with global certifications.
Subsidiary of Tata Power; established player in solar manufacturing.
Integrated manufacturer of solar modules and encapsulation materials.
Rapidly expanding module capacity; strong domestic and export presence.
Known for high-efficiency modules and EPC services.
Diversified energy company with solar manufacturing division.
Focus on residential and commercial solar modules.
Manufacturer of polycrystalline and monocrystalline modules.
Part of Chiripal Group; new entrant with large capacity plans.
Known for high-efficiency mono PERC modules.
Exports to multiple countries; ALMM certified.
Growing manufacturer with focus on quality and innovation.
Part of the Goyal Group; produces mono and poly modules.
Diversified engineering group with solar manufacturing arm.
Major supplier of solar glass to module manufacturers.
One of India's oldest solar cell manufacturers; recently revived.
Part of Moser Baer Group; cell and module producer.
Specializes in solar cell production; under restructuring.
Integrated manufacturer with cell and module lines.
Part of Borosil group; produces modules for domestic market.
Focus on off-grid and rooftop solar solutions.
Part of Mahindra Group; major solar project developer.
Independent power producer; large solar portfolio.
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Free Data: Solar Cells and Light-Emitting Diodes — India
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