This report encapsulates quarterly trends in module demand and supply, import and domestic production volumes, supplier market share, break-up by technology and rating, global market scenario, pricing across the value chain, key policy developments and market outlook.
Figure: Domestic module availability, Q1 2024
Source: CRISIL-BRIDGE TO INDIA research
Note: Module shipments for domestic manufacturers are shown net of exports. Imports and exports are based on sample data that may be subset of the total quantum.
Total module demand in Q1 was estimated at 10,455 MWp, split 53:36:9:2 between utility scale, open access, rooftop and off-grid solar respectively.
- Strong uptick in construction progress
- Significant increase in domestic module exports
- ALMM applicability from Q2 onwards to push up domestic module prices in the short-term
- US tariff move against SEA imports to create opportunity for Indian manufacturers
- Indigenous manufacturing expected to reach sufficient scale to service domestic demand in the medium-term
