It is “unhealthy” for China to dominate solar manufacturing and production bases outside of the country are necessary to reduce the risk of supply chain disruptions, an Indian government official has said.
Solar PV capacity in Asia Pacific could triple to 1,500GW by 2030, with China driving deployment and Indonesia set to be the region’s fastest-growing market, according to Wood Mackenzie.
Module and cell manufacturers in India will expand their production capabilities by 13.75GW for modules and 6.9GW for solar cells, according to research by JMK Research and Analytics
Indian conglomerate Reliance Industries will construct an integrated PV module factory and look to enable more than 100GW of solar by 2030 as part of a US$10.1 billion clean energy plan.
The cost of building and operating new utility-scale PV is now cheaper than running existing coal plants in China, India and across much of Europe. However, rising commodity prices could see PV projects become temporarily more expensive in the second half of 2021, according to BloombergNEF analysis.
