Indian Solar Cell Exports to USA hit $562 M in 2022

 Due to global warming, the world is heading towards a greener future. Solar Energy is another conventional source of energy that countries are banking upon. Currently, China is the leading solar module exporter in the world with over 75% share in the global solar cell production. According to the China import export data, China's solar cells and module exports were around 46 billion US Dollars.

In India, Bhadla solar park is the leading solar cell capacity park with an output of 2245 MW. In terms of solar energy, Germany, Italy, Spain, Japan, United States, China, Czech, Australia, France and Belgium are the top 10 solar energy producing countries in the world.  Germany produces twice the solar output that any other European country produces. China leads the world in terms of solar power capacity, China installed over 50,000MW solar cells. 

After China, Vietnam, Malaysia, South Korea, the United States and India were other major solar cell and module producers. India is the fourth largest exporter of solar cells and modules in the world. According to the India customs data reports, the solar cells, PVs and module exports reached 42 billion US Dollars in 2022. The Indian solar sector is witnessing around 320% year on year increase.

Whereas, imports of solar cells and modules slowed down. As per India import data, solar imports totaled 22 billion US Dollars. While it was 29 billion US Dollars in 2021. The United States was the major contributor to Indian solar cells exports. India imports solar equipment worth 2 billion dollars in 2022. The US covers over 90% of total Indian solar cell shipments. Solar modules exports to the USA alone hit a record 562 million US Dollars in 2022.  The top importers of solar cells and modules from India were mainly the United States, Malaysia, Japan, Taiwan and European Union countries.  

Our India import export data suggests that Adani Solar, Vikram Solar, Premier Energies, Renew Power and Solex Energy are the top 5 solar module import export companies from India with high shipment volume. As per the Experts, the Indian government is eyeing 500 GW installing capacity of solar energy. Currently, India has installed 622 GW capacity solar cell plants. Recently, the Indian government has installed a 100 MW floating Solar PV Project in India. The Indian Solar Industry is gaining momentum in the global market and will see a positive growth for 2023.

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