India's Solar PLI:$2.5B Investment to Achieve 70+ GW by 2027

  Oct 27, 2023

Production Linked Incentive (PLI)

for Solar Revolution

India’s ambitious Production Linked Incentive (PLI) scheme for solar PV module manufacturing aims to propel the nation’s domestic production capacity beyond 70 gigawatts (GW) by 2027.
This initiative, with an investment of approximately $2.5 billion, signifies India’s commitment to meeting its energy needs while contributing to the global solar market.

The International Energy Agency (IEA) recognizes India’s efforts, stating that the country, which currently holds 3 percent of the global solar PV market,
is poised to achieve its 2030 target of having 50 percent of its electricity capacity generated from non-fossil sources well before the end of this decade.

While global solar manufacturing is primarily concentrated in a few countries, including China, India’s PLI program aims to diversify the market.
If fully realized by 2026, this capacity expansion could surpass India’s domestic demand and make it an exporter in the solar PV module industry.

Despite the ongoing import of solar PV modules, as the domestic production ramps up, India is set to reduce its reliance on imports, further strengthening its position as a reliable exporter.

With the growing demand for electricity, particularly driven by the increasing use of air conditioners due to rising temperatures, India is poised to become a major player in the global energy landscape.

SRIRAM’s Sustainable Energy Vision


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