More Indian Module Makers To Setup Manufacturing Centers In US

More Indian Module Makers To Setup Manufacturing Centers In US

The interest of Indian solar modules is now rising to invest in the United States (US) in the solar business. Bolstered by the hand-holding support of the government there to support the domestic production of solar cells and solar modules in the country, the investments in US in the sector is set to rise.

This comes at a time when selected Indian solar module manufacturers like Waaree Energies and Vikram Solar has already announced their GW-scale solar module production factories in the country. A number of these firms are now buoyed with the benefits the Inflation Reduction Act (IRA) of US offers for investing in solar module manufacturing. With the tax credit benefits, it is cheaper for these firms to establish and run solar equipment units in the country and cater to the demands of the domestic solar industry.

However, several of these companies who are keen to invest in the country are doing their risk analysis and waiting for more political stability in the country in the wake of upcoming Presidential elections. Saur Energy talked to several solar module makers in the recently concluded REI Expo at Greater Noida and many of them confirmed their plans to invest in US.

“We are planning to start our new solar module manufacturing company in the United States (US). We are waiting for the Presidential Elections to get over and then only we can take a final decision on the issue. Many solar firms are now keen to invest in the US due to the hand-holding support of the country and conductive policies,” co-founder of a leading solar module manufacturer from Gujarat (among the top 10 solar module manufactures by capacity) told Saur Energy.

US has been a preferential country for the Indian solar makers as many Indian solar firms mainly export their solar modules to the US. With the latest restrictions imposed by the US against the dumping of Chinese solar modules and cells in US and investigations on such dumping from China and other Southeast Asian countries, export of solar modules from India got an impetus.

Now with more than 130 solar modules in the country, several solar cell makers and solar module makers are planning to spread their offshore business in the country. However, India is now alone in the business. Even several Chinese major solar module makers have already invested to start their solar module centres in the country.

While the Indian solar module makers are all set to increase the number of solar module manufacturing lines in the US, they are likely to compete with the Chinse firms operating in US and the domestic US solar module manufactures like FirstSolar and others.