The India solar PV module market was valued at USD 7.94 billion in 2024 and is projected to reach USD 21.12 billion by 2033, registering a compound annual growth rate (CAGR) of 10.60% during the 2025–2033 period.

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Market growth is being driven by increasing demand for high-efficiency solar modules and the expansion of domestic manufacturing capacity. In addition, advancements in TOPCon and bifacial technologies, along with the scaling up of large-scale production, are supporting market expansion, strengthening energy security, and accelerating India’s transition to renewable energy sources.

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