India’s solar module manufacturing may face overcapacity due to US tariffs: ICRA
NEW DELHI: India’s photovoltaic (PV) module manufacturing capacity is likely to face a potential overcapacity situation following a reduction in exports due to the recent imposition of US tariffs, according to a report by ICRA.
The rating agency noted that annual solar capacity installations in India are expected to remain at around 45–50 gigawatt direct current (GWdc), while annual solar module production capacity stands at 60–65 GW. The imposition of US tariffs has adversely affected export volumes, as modules originally intended for export are now being redirected to the domestic market.
