Solar energy expansion is booming worldwide. India, in particular, is seeing rapid growth thanks to state funding programs, tax incentives, subsidies and green loans from banks. In 2025, 37.5 gigawatts were added – a 50 percent increase from the previous year. The 2026 budget provides for a deployment of 45 to 50 gigawatts, allowing the most densely populated country to become the second largest solar market in the world, behind China and ahead of the USA. India is also evolving into a producer of PV components. Intersolar Europe will shine a spotlight on the south Asian country from June 23–25 in Munich. India is an up-and-coming market for the international PV industry. There will be numerous events where visitors can learn about the market, new business opportunities and the structure of new supply chains. They will also have the opportunity to meet experts from India in person. The exhibition will take place as part of The smarter E Europe, Europe’s largest alliance of exhibitions for the energy industry. More than 100,000 visitors and 2,800 exhibitors from all over the world are expected to attend.
India is fast-tracking its path towards climate neutrality by 2070, with a strong focus on solar energy. Photovoltaics (PV) serves as the technological backbone of supply security in the expansion of renewable energies. Because the economy and the population are rapidly growing, the energy demand increases and more and more companies are turning to renewable energy. 500 gigawatts of renewable energy are expected to be installed by 2030, including 280 gigawatts of solar energy. PV is becoming more attractive due to unprecedented price erosion: According to data from the International Renewable Energy Agency (IRENA), solar power costs in India have fallen by 80 percent since 2010, making it the most cost-effective option for new power installations.
But there are also challenges. The need for highly specialized skilled workers, the expansion of modern energy infrastructure and the scaling of storage capacity are key factors for the next transformative phase. These developments also open up enormous opportunities for collaborations and new markets. “India is both a major sales market and an attractive partner for expanding production capacity in the solar and storage industries. This also makes it a potential source for finished components and intermediate products”, says David Wedepohl, Managing Director International Affairs at the German Solar Association. The association has been active in India since 2007 and Germany has already supported several projects there. Some of these projects explored how solar power can be fed into the grid while maintaining grid stability, others provided training for workers in the installation and maintenance of roof solar modules.
India is shifting from being an importer to a global exporter of highly efficient photovoltaic components. Backed by state incentive programs such as PLI (Production Linked Incentive), the industry is investing heavily in local production of state-of-the-art n-type technologies (such as TOPCon and HJT), which significantly outperform conventional monocrystalline PERC modules and are much more resistant to high temperatures. Module production is set to increase sixfold by 2030. This gives Germany and Europe the opportunity to diversify their supply chains while supporting India’s industrial production with their expertise. After all, India is the fifth largest economy in the world. At the end of January 2026, the European Commission signed a free trade agreement with India. “Along the entire PV value chain – from module production and cells to wafers, ingots and polysilicon – India is growing to become one of the most dynamic producers in the world. European machines and plants form the technological backbone for stable, precise and powerful processes, which Indian manufacturers are using to set new benchmarks in quality. Since day one, our machine and plant manufacturers have been in India to support the growth of the industry and provide guidance along the way. Through close collaboration between India and Europe, and with the support of European research, we are driving this industrial awakening while strengthening European production. The EU-India Free Trade Agreement also gives new opportunities for discussion and trade between both regions”, explains Dr. Puzant Baliozian, Sector Group Leader Photovoltaics Equipment at VDMA (German Engineering Federation).
Until now, there have been big barriers to trade, such as import duties, import and export restrictions and political initiatives such as Make in India. What’s more, India is a federation with 28 states, meaning energy policy and its implementation often depends on different regulatory guidelines and local circumstances. This is a challenge for foreign investors. To remedy this, Subrahmanyam Pulipaka, CEO of the National Solar Energy Federation of India (NSEFI), has suggested establishing a National Electricity Council to standardize policies.
PV on reservoirs, bodies of water and agricultural land
Around 75 percent of the installed solar capacity in India is concentrated in five states: Rajasthan, Gujarat, Tamil Nadu, Maharashtra and Karnataka. These states have high levels of sunlight year-round. In the future, solar energy is set to expand onto reservoirs, bodies of water and agricultural land using agricultural PV and floating solar systems. In an article for Energyworld, Subrahmanyam Pulipaka wrote: “Agricultural PV offers a compelling dual advantage: enhancing both energy and food security while adding generation capacity closer to the tail-end of the grid, thereby improving its strength and efficiency. A dedicated National Mission for Floating Solar would be instrumental in unlocking India’s immense potential for gigawatt-scale deployment on reservoirs and water bodies, transforming unused spaces into engines of clean energy growth.”
The energy transition is expected to improve prosperity and reduce poverty. In late February 2024, the government launched a program with 7.1 billion euros in funding, aimed at helping at poor households install PV systems on their roofs and generate their own electricity. This initiative has increased the number of rooftop solar installations by more than 50 percent in just one year. The NSEFI founded the Committee of Women in Solar Energy (WISE) with the goal is to help women gain access to energy, education and careers in the energy sector.
Side events at the exhibition
With support from Intersolar Europe and other partners, the German Solar Association is planning several side events at the exhibition on the topic of the India’s PV market. Together with the VDMA, they are dedicated to building joint supply chains. The VDMA, the German Solar Association and the Indian NSEFI are hosting a CEO roundtable, bringing together high-ranking industry representatives. A meeting of the WISE initiative from India is also planned. The Indo-German Energy Forum are hosting a business dialogue to mark the free trade agreement concluded between India and the EU. On June 24, this series of events will be concluded by the India Meets EU: Solar Night – Networking Reception.
