IB Solar Likely To Launch TOPCOn-Based Modules By Oct: Abhinav Mahajan

What are the main products IB Solar is offering to the Indian solar market currently? 

Right now, we have a total solar module manufacturing capacity of 500 MW. We are set to add 900 MW of additional capacities in the next six months. We expect our cumulative solar module manufacturing capacity to reach approximately 1.4 GW by January next year. Our existing solar module manufacturing plant is located in Greater Noida, Uttar Pradesh. Currently, we are producing mono-PERC-based solar modules as well as bifacial modules. We manufacture solar panels and Li-ion battery packs under the name IB Energy.

Why did you choose Greater Noida to start your production line?

The policies in Uttar Pradesh have become conducive for the module manufacturing industry. This is why many solar module manufacturers from around the country are now investing in the state to set up their plants. Under the UP Electronics Policy, we have received special privileges and incentives to establish our plants. With the new government’s focused attention, land allocation through government bodies has become more streamlined and organized. We have received subsidies for land as well as capital subsidies for procurement of solar manufacturing equipment. Currently, there are 7-8 companies that have established new plants in Greater Noida. After Gujarat, Greater Noida is becoming the next hub for solar module manufacturing. The region is also becoming a hub for other electronic industries.

Are you planning to launch TOPCon technology-based solar modules as well?

Yes, we are gearing up to launch our new n-type TOPCon production by October this year. We will start the production of 300 MW TOPCOn-based solar modules with our new expansion. So by October this year, our total solar module production capacity will touch 800 MW with the addition of the TOPCon facility. As per industry demands, we also need to transition in the right direction, which means bringing in and offering new technologies. In addition to this, we are also all set to commission 600 MW of new module manufacturing factory around 2.5 kms away from Jewar airport in UP by January next year. So, by January next year, our cumulative production capacity will touch 1.4 GW. 

Have you seen a surge in the demand for modules after the launch of PM Surya Ghar? 

The PM Surya Ghar scheme has indeed increased the demand for rooftop solar panels. This scheme has brought about several reforms in the rooftop solar sector and has also raised awareness among the public. Its impact is slowly becoming visible on the ground, as we are seeing a growing number of customer inquiries. There is a notable rise in queries related to 3-10 kW systems. This positive buzz in the market is promising, and we expect demand to increase in the coming months and years, bringing positive changes to the residential rooftop sector. Issues related to net metering have also been addressed effectively.

What are the main challenges in the procurement of DCR solar cells in India?  

The main challenges are the availability and quality of solar cells. At present, the prices of DCR solar cells are about Re 1 higher than non-DCR cells, a gap that ideally should not exist. There is not much additional processing cost involved in the production of DCR solar modules. In terms of manufacturing, we are gradually reaching the processing costs offered by Chinese players, as we are now using similar types of machines. The higher cost of solar cells in India is mainly due to the monopoly of a few Indian solar cell makers, a situation that is expected to change as more solar cell manufacturers emerge in India. Once we have a sufficient number of solar cell manufacturers, the prices of Indian solar cells will likely decrease. There is a misconception that solar module manufacturers are drastically increasing their panel prices; in reality, the price fluctuations are primarily due to the prices set by the limited number of solar cell makers in the country.

How do you see global solar cell/module prices in the coming days?

The prices of panels are now at rock bottom, and solar cell prices are likely to only increase. Currently, Chinese solar companies are facing financial issues due to the global recession in demand. It is unlikely that solar cell prices will drop further below their current levels. We anticipate that prices may increase starting in January next year.

How is your Li-ion battery vertical faring? 

Our work on Li-ion batteries is progressing well, with production of Li-ion battery packs ranging from 12 V to 128 V, capable of delivering 1 kWh to 1 MWh. Many of these Li-ion batteries are used in rooftop solar systems. There is a notable price difference between lithium-ion batteries and lead-acid batteries, with Li-ion batteries also being more attractive in terms of appearance. As consumers increasingly look for hybrid inverters for rooftop solar systems, we expect demand for such energy storage devices to rise. Our main demand comes from system integrators for household rooftop solar applications.

How do you see the future of solar cell and solar module manufacturers in the country?

Several companies are now planning to enter the DCR solar cell production market. With the entry of new players, we expect prices to stabilize and the quality of solar cells to improve. India’s solar module manufacturing capacity has reached 60 GW, which has opened up opportunities for exporting solar modules. Many new production lines are also set to become operational. We are already exporting about 8 percent of our total modules to other countries.