Daily News Wrap-Up: Indian Solar Exports and Imports Surge in 2023
SECI commissions 120 MWh battery energy storage system in Chhattisgarh
February 27, 2024
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Indian solar exports rose 227% year-over-year to $1.8 billion (~₹152.6 billion) in CY 2023 from $561 million (~₹46.4 billion), according to recent data published by the Department of Commerce. Solar photovoltaic modules accounted for 97.4% of the annual solar exports, while solar cells accounted for the remaining 2.6%. The U.S. was the top buyer of Indian solar cells and modules, accounting for 97.3% of the exports in 2023. After imposing the anti-dumping and anti-circumvention duties on Chinese solar modules, the U.S. Department of Commerce clarified the scope of the anti-circumvention probe, allowing the import of solar modules made outside of Southeast Asia. These duties and clarifications have enabled Indian solar manufacturers to increase module shipments to the U.S.