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, Q3 2024

Source: CRISIL-BRIDGE TO INDIA research
Total module demand during Q3 is estimated to have been 6,553 MWp, of which utility scale accounted for 2,719 MWp (41%), open access 1,767 MWp (27%), rooftop 1,652 MWp (25%) and off-grid solar 415 MWp (6%)
Key developments from the quarter:
- Prices near record lows across the value chain
- The share of domestic modules for projects rose to 42% from 24% qoq
- Waaree and Adani were the leading manufacturers, followed by Saatvik and Premier
- Anti-dumping duties on solar glass are expected to have an impact on module cost
- ALMM to boost domestic cell production, reducing import dependence