India’s Solar Market & PVH’s Vision

Did you know India’s Sunniest States receive the maximum annual global radiation?

Rajasthan and Gujarat, located in India’s “sunny belt,” receive over 2,000 kWh of solar radiation per square meter annually, basking in bright sunlight for more than 250–300 days each year. These ideal conditions propel India toward its ambitious goal of generating 500 GW of non-fossil fuel power by 2030. This positions the India solar market, with players like PVH, at the forefront of global renewable energy efforts.

India is strategically located to benefit from over 5,000 trillion kWh of energy annually, with most regions receiving 4–7 kWh/m²/day. The vast deserts and underused land make the country perfect for large-scale solar installations. Consequently, India has an ambitious plan to reduce carbon emissions by 30–35% by 2030, continue to draw in foreign capital for green energy and attain carbon neutrality by 2070.

In the following sections, we will dive into India’s Solar Market & PVH’s Vision. We will explore the government policies and initiatives driving growth, examine the challenges that impede progress, and highlight innovative technologies and investments shaping the sector. We will also discuss how global players like PV Hardware (PVH) contribute to India’s solar revolution through cutting-edge solutions, cost-effective technologies, and localised strategies.

By the end, you will understand how India is paving its way to becoming a global leader in solar energy.

Government Initiatives and Policies Supporting Solar Energy

Building on this vast potential, India has established itself as a global leader in renewables, with a focus on solar energy. The India solar market is expected to be led by the solar PV segment, and PVH’s vision to support this goal is getting fulfilled by our local India Office in Hyderabad. With this significant growth in utility-scale capacity, PVH aims to better understand the market mindset and develop more effective strategies to support local client requirements.

From only 2.5 GW in 2014, the country’s solar power capacity reached 94.16 GW in 2024, drastically increasing thirty-fold. By 2030, India aims to install 450 GW of renewable energy capacity, with over 60% (~280 GW) expected from solar energy. The government has introduced policies like the PM-Surya Ghar Muft Bijli Yojana to support this growth. The scheme aims to install rooftop solar panels in one crore households, providing up to three hundred free units of energy every month. Additionally, the Production Linked Incentive (PLI) Scheme for High-Efficiency Solar PV Modules aims to minimise reliance on imports, create 1,01,487 jobs, and increase industrial capacity by 48,337 MW by 2026. Significant investment plans include Reliance Industries’ intention to invest USD 80.61 billion over 10–15 years in Gujarat for 100 GW of renewable energy capacity.

Obstacles to India’s Solar Energy Development

However, despite the investments and growth in the India solar market, several challenges remain.

• The existing infrastructure needs upgrades due to shortages of substations and poor grid connectivity.
• Specific policy changes (e.g., 40% customs duty on modules) and uncertainty about long-term support mechanisms, such as the Inter-State Transmission System (ISTS) charges waiver, have created an unpredictable environment for investors.
• A significant investment gap exists, compounded by the financial distress of Discoms, which owe billions to power producers, and the high cost of debt, making financing more challenging.

Opportunities for Innovation in Solar Energy

With forecasts showing sustained growth, the solar sector in India has a promising future. PVH (PV Hardware) has recognised the growing potential of the India solar market and has made a strategic entry. To ensure localised service and a more significant presence, they opened a local office in Hyderabad. In keeping with India’s objective of providing inexpensive solar energy, PVH showcased the AxoneDuo Infinity tracker at REI 2024, which offers a 40% cost reduction with preassembled components. To meet growing demand, PVH has fortified its supply network in India, guaranteeing prompt delivery and cost savings. PVH hopes to significantly contribute to India’s solar revolution and renewable energy objectives with its affordable solutions and local presence.