India’s PV module exports to US set to increase until 2025

IEEFA and JMK Research say that Indian solar module manufacturers will continue to sell products in the US market until July 2024. However, exports could stagnate in 2025 and decline from 2027 due to domestic capacity development under the US Inflation Reduction Act (IRA).

From pv magazine India

India’s solar module exports to the United States will rise until 2025, but they will then decline due to the IRA and domestic manufacturing policies in America and Europe, according to a new report by IEEFA and JMK Research.

“With annual global solar installations forecast to reach at least 1 terawatt (TW) by 2030, it is clear that there will be no dearth of PV demand in the future,” said Vibhuti Garg, director of South Asia for IEEFA. “Thus, Indian manufacturers must focus equally on domestic and international markets. Indian PV products will also need to compete in global markets with other large PV manufacturing countries in terms of quality and scale.”

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