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Indian photovoltaic manufacturer Jakson plans to bring an initial 3 GW of integrated ingot, wafer and solar cell capacity into operation in India by the end of 2028, according to pv magazine, which spoke with Ivan Saha, Managing Director of Jakson Engineers Limited. Saha indicated that the company could later raise its ingot and wafer capacity to as much as 10 GW and its solar cell capacity to as much as 5 GW, subject to market conditions.
The company intends to develop its ingot-wafer and cell projects at the same time, though the cell facility may begin operating before the ingot-wafer plant. Saha described the strategy as centred on vertical integration, with Jakson seeking control over manufacturing quality at the ingot, wafer and cell stages instead of depending entirely on outside wafer suppliers.
He explained that wafer characteristics such as oxygen content, dislocation levels and resistivity can affect downstream cell performance, and that making wafers in-house would let Jakson manage those parameters and refine its manufacturing process.
Jakson currently holds roughly 1.2 GW of solar module manufacturing capacity. Saha said the company’s present investment priority is backward integration rather than major additional spending on standalone module manufacturing, which he characterised as a comparatively lower-value segment with higher operating costs. Instead, Jakson plans to concentrate on ingot, wafer and cell production and may sell cells to the market or pursue arrangements to convert cells into modules, depending on market requirements.
Saha expects substantial consolidation in India’s solar manufacturing sector over the next four years as manufacturers face growing pressure to compete on technology, product quality and production costs. He also anticipates considerable market restructuring as the industry moves its attention from announced capacity to commercially viable production.
Jakson plans to use TOPCon 3.0 technology at its proposed 3 GW solar cell facility. The approach adds process steps compared with conventional TOPCon cell manufacturing to improve conversion efficiency. Saha said the company intends to adopt the technology directly rather than move through successive technology generations, and that Jakson is targeting initial cell conversion efficiencies of 25.5% to 25.6%.
Saha pointed to the gap between India’s announced solar manufacturing capacity and actual market supply, noting that commissioned and ALMM-listed capacity, together with capacity utilisation, gives a more realistic picture of available production. By his assessment, India has about 17 GW of ALMM-compatible TOPCon cell manufacturing capacity, and based on publicly available financial results from selected listed manufacturers he estimated average utilisation at around 60%, which would imply annual production of roughly 10 GW. Not all of that output is necessarily available to the open market, since some manufacturers use their cells for captive module production.
Saha said the difference between announced capacity and actual supply creates opportunities for manufacturers with differentiated technology and integrated operations, adding that Jakson’s focus is on technology and vertical integration with an emphasis on high-quality, fully automated and high-efficiency manufacturing.
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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