Big Opportunity for Indian Solar Market amidst US Solar Boom

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Efforts by the United States to foster the growth of India’s solar industry has facilitated the entry of components manufactured in China. Waaree Energies Ltd., one of India’s largest solar producer, has shipped millions of panels to the US containing components sourced from a Chinese company. The company, Longi Green Energy Technology Co., had faced repeated denials of entry into the US market due to concerns regarding forced labour associated with its products.

The solar cells produced by Longi Green Energy Technology Co. in facilities located in Malaysia and Vietnam have been integrated into Waaree panels deployed across solar farms in various states including Texas. As reported by BNN Bloomberg, the heightened scrutiny on China has inadvertently presented an opportunity for Indian solar producers. The exports to the US totalled nearly $2billion in panel sales during the first eleven months of the previous year, marking a substantial increase compared to the entirety of 2022.

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