Meet our India-based team at REI 2023! We had a great time connecting with our partners onsite. We are also expanding our team in India to enhance our ability to provide more advisory, engineering, and technical services to our clients in the solar and storage industries.
The Indian PV module manufacturing industry is experiencing rapid growth, marked by the establishment of new manufacturing facilities that are already operational. There is a growing diversification in the supply chain, with the sourcing of cells from Southeast Asia gaining prominence. The concept of traceability is becoming more widely discussed within the sector. However, the industry is grappling with the challenge of acquiring qualified and experienced personnel. Some Indian manufacturers have ambitious goals of expanding their operations to include module and even cell manufacturing in the United States, although these plans are still in their initial stages.
The decrease in PV module prices this year, coupled with the postponement of ALMM to April 1, 2024 (for now) and commissioning deadlines scheduled for the end of March 2024, has spurred a rise in demand for equipment sourcing from China and Southeast Asia. However, this is not without its challenges. Despite being in a market favorable to buyers, facing high-cost pressures on modules, clients may not always secure the most favorable manufacturing conditions for their orders, regardless of supplier rankings. It’s crucial for buyers to set clear supplier responsibilities in their purchase agreements and ensure verification by an independent and qualified inspection body on-site.