Latest list of Top Module and Inverter Suppliers in India

We all have been hearing that India is set to achieve its 100 GW solar installation target by 2022 on one hand, and the problems that India is facing that makes the whole estimation sound weird. Well half of the year has already gone by and it is time to have a little check on the Indian market – major players in different solar fields, products, numbers etc. India has installed close to 3.6 GW in the last one year, ending Q2 of 2016. According to Bridge to India, the list of major module and inverter suppliers is given below.

Also see how major module manufacturers performed during H1 of 2016.

Leading Module Suppliers in India

Read Solar Panel Efficiency Comparison

The top Indian domestic players like Tata Power, Vikram Solar, Waaree Solar comprise not even total 10% marketshare in the country. In contrast the top Chinese players like Trina Solar, Canadian Solar, Hanwha Solar, JA Solar, GCL, Renesola and Jinko Solar account more than 50% of the total marketshare in India. The only prominent Japanese company in India is the thin film player Solar Frontier, constituting 2.5% of the total market share. Major thin Film solar panel suppliers in India are USA’s largest solar manufacturer First Solar, Japan’s Solar Frontier and Hanwha Solar constituting ~19% of the total module market in India.

Leading Inverter Suppliers in India

ABB has become the No.1 inverter supplier in India, commanding a marketshare of 35%. ABB has the industry leading portfolio of solar inverters today, capable of meeting the requirements ranging from residential to large-scale megawatt size projects. The company recently announced the launch of self-commissioning inverters, which will simplify the whole installation process. SMA Solar slide down few positions, but is a preferred choice in the Indian market. This German maker of solar inverters also offers solar inverters for small residential as well as large multi megawatt sizes.

Also read list of Major EPC contractors in India in 2015.

According to the latest investor presentation by Canadian Solar, the annual PV installation is poised to grow at the rate of 8.3% CAGR over the next three years. However the Chinese are going to experience a FiT reduction in the second half of the year. USA solar utility market is expected to undergo a slowdown in 2017, but residential and commercial markets are expected to grow. India is advancing towards its targets, with its own set of problems. The Indian market is estimated to install 5.5 GW, 6.5 GW, 8.1 GW and 9.4 GW by the end of 2016 through 2019. It will be interesting to note how these rankings will change over time.