Solar Boom and Ambitious Goals
In 2025, India’s solar sector stands at a pivotal moment, marked by rapid growth and innovation. The country’s installed solar capacity has crossed 100 GW, a testament to decades of progress. As Solex Energy Limited celebrates its 30th anniversary in 2025, it exemplifies the industry’s evolution from its nascent beginnings to a global solar manufacturing hub.
India’s ambitions continue to rise. The government targets 500 GW of non-fossil power capacity by 2030, with solar energy as a cornerstone. This drive has led to record installations: India added 25.2 GW of solar capacity in 2024, a 204% jump over the previous year. Analysts note that annual additions must reach ~35 GW to stay on track for 2030 targets, indicating a robust pipeline ahead.
Efficiency Gains and New Materials
Advancements in solar technology are fueling this momentum. Module efficiencies have steadily improved thanks to innovations like PERC+ and next-generation N-type cells (TOPCon, HJT) that deliver higher performance. Cutting-edge designs enable higher output per panel. For instance, Solex’s new TOPCon modules use a rectangular cell layout to deliver up to 625 Wp with ~23.1% efficiency, reducing land and balance-of-system costs for large projects. Meanwhile, new materials are on the horizon: Perovskite-silicon tandem cells have surpassed 30% efficiency in lab settings, hinting that future panels could far exceed today’s limits. These innovations promise to make solar power even more cost-effective and space-efficient.
Policy Support and Industry Expansion
Strong policy support is also shaping the industry’s future. The Production Linked Incentive (PLI) scheme for solar manufacturing is bolstering domestic production of high-efficiency modules – across two phases, about 48 GW of new module factory capacity has been allocated under PLI incentives. This push for self-reliance, along with import duties on solar equipment, is encouraging companies to expand. Solex’s expansion from 1.5 GW to 4 GW total capacity by mid-2025 reflects the broader trend of manufacturers scaling up to meet demand.
With a confluence of advanced technology, supportive policy, and market momentum, the future of solar in India looks brighter than ever. Large-scale manufacturers and developers are leveraging these trends to drive efficiency and scale. As an industry veteran at its 30-year milestone, Solex Energy Limited stands at the forefront of this transformation, contributing to India’s journey toward sustainable energy leadership.
