EQ In Exclusive Conversation With Mr. Vikas Arya, Vice President-Product Development & Design – Jakson Solar – EQ

1. What is the Opportunity in India Currently…in Terms of Projects in Tender, Pipeline etc…Opportunities in Manufacturing etc

India’s solar market is experiencing robust growth, driven by government tenders and private sector investments. The national target of achieving 500 GW of non-fossil fuel capacity by 2030, including 300 GW of solar, is creating significant opportunities across utility-scale, C&I, and residential segments. According to the latest reports, over 85 GW of solar projects are at various stages of implementation, with approximately 48 GW under tendering. This has led to a year-on-year increase in demand for solar modules.

Currently, India’s solar module manufacturing capacity has surpassed 67 GW per annum and is expected to reach 100 GW in the next 1–2 years—exceeding domestic demand for modules. With the announcement of ALCM (mandatory use of domestically produced cells in domestically manufactured solar modules) from mid-2026, there is growing momentum in new cell manufacturing plants across the country. This development is also driving investments in solar module components such as solar glass, frames, junction boxes, and encapsulants, generating employment and further boosting the manufacturing ecosystem.

Jakson Solar is well-positioned to capitalize on these opportunities by expanding its manufacturing capacities and strengthening its project execution strategies.

2. Kindly enlighten us with your tech roadmap, manufacturing capacity road map

Jakson Solar is committed to technological advancements and capacity expansion. Currently, we operate fully automated production lines with an annual solar module manufacturing capacity of 1.2 GW. This module manufacturing capacity is set to further increase with the addition of 2.5 GW new greenfield facility by early 2026

We offer both Glass-Glass (TOPCon technology) and Glass-Backsheet (PERC technology) modules, with module rating range from 400 Wp to 600 Wp. In the TOPCon range, we have also introduced 615/620 Wp modules using rectangular cells to meet customer demand for utility scale projects in FY 2025-26.

Additionally, we are also setting up another Green Field project for 3 GW solar cell manufacturing capacity, which is expected to be operational by mid 2026. With these expansions, we will have overall 6GW+ capacity of module and cell manufacturing capacity by next year.

We are also investing in operational efficiency and inhouse product reliability testing by adopting the latest technologies and testing equipment in compliance with latest IEC/BIS standards. With a focus on vertical integration, we aim to expand into ingot and wafer production in the coming years.

Furthermore, we are strengthening our R&D efforts to develop next-generation solar solutions, automation, and AI-driven quality control. Through these initiatives, Jakson Solar aims to contribute to India’s vision of becoming a global solar manufacturing hub while catering to both domestic and international markets.

3. How much manufacturing capacity India has in terms of Solar Modules, Inverters, Cells etc and what’s your anticipation in capacity addition in coming year

India currently has over 67 GW of solar module manufacturing capacity and around 20 GW of solar cell manufacturing capacity, 50% of this cell capacity having commenced production recently. By 2026, module capacity is expected to exceed 100 GW, and cell capacity is likely to surpass 50 GW, driven by PLI incentives, increasing private sector investments, and strong government support for domestic manufacturing.

The country is also witnessing significant investment in upstream manufacturing, including wafer and polysilicon production, which will reduce import dependency and enhance self-reliance. Additionally, inverters and energy storage solutions are anticipated to grow exponentially to meet increasing domestic and export demands, particularly with the push towards grid stability and energy independence.

4. What kind of market do you anticipate in current and future year in terms of Utility / C&I / Residential Market Forecast?

In the short term, utility-scale solar will continue to dominate due to economies of scale, resulting in the lowest cost of power through state and central tenders. However, the C&I sector is experiencing rapid growth, driven by corporate sustainability goals and rising electricity costs. Jakson Group is actively involved in both utility-scale and rooftop solar projects, offering in-house design, EPC, and O&M services to provide customized solar solutions for customers.

Residential solar adoption is also growing rapidly, supported by government subsidies and targeted marketing initiatives. The government aims to install solar systems in 10 million homes across all states and regions. Jakson Solar is actively contributing by providing DCR-compliant solar modules for the PM SuryaGhar scheme through its network of authorized partners.

5. What’s your view on the various opportunities such as PM Kusum & PM SuryaGhar?

The PM-KUSUM scheme presents immense potential for decentralized solar adoption, particularly in the agricultural sector. Jakson Solar has been a key supplier of solar modules for KUSUM projects, ranging from agricultural solar pumps to grid-tied solar power plants of up to 2 MW. We have supplied over 100 MW of solar modules under this initiative, contributing significantly to rural electrification and agricultural sustainability.

The PM SuryaGhar initiative, which focuses on large-scale rooftop solar adoption, is a game-changer. Our residential solar solutions, combined with financing options and quality assurance, are well-positioned to capitalize on this opportunity, promoting energy independence among households.

6. What could be the major changes in market in terms of major policy and regulatory announcements like New Open Access Rules, etc?

Key regulatory developments, such as the new Open Access Rules, ISTS waivers, and stricter ALMM norms, will reshape the solar market. Open Access reforms will allow C&I consumers to procure renewable energy more easily, while ISTS charge waivers will reduce project costs and encourage large-scale installations.

Stronger ALMM norms will enhance the competitiveness of domestic manufacturers. Additionally, supportive net metering policies and streamlined rooftop solar approval processes will drive adoption in the residential and C&I segments.

7. Visible Changes in RE Industry w.r.t. Energy Storage, RTC, Hybrid RE Projects, Floating, etc.; and their likely impact.

With over 100 GW of installed solar capacity, daytime electricity generation is often surplus, sometimes leading to curtailments, while there are shortfalls during peak evening hours. Energy storage is emerging as a key solution to address this supply-demand mismatch, ensuring 24×7 power availability and grid stability.

The rise of Round-the-Clock (RTC) and hybrid renewable energy projects, integrating solar, wind, and battery storage, is expected to accelerate large-scale adoption, ensuring an uninterrupted supply of clean energy to industries and DISCOMs. Government initiatives and declining battery costs will further accelerate growth in the energy storage sector.

Floating solar is also gaining traction, particularly in states with limited land availability, such as Kerala and West Bengal. This technology offers high energy yields while conserving land resources. Jakson Group is actively engaged in hybrid renewable energy solutions and energy storage technologies, aligning with market trends to enhance grid reliability, support RTC power generation, and enable large-scale renewable integration.

8. What’s your expectations from the Government, Policy Makers and Regulators?

Consistency in policy implementation, faster clearance processes, and incentives for local manufacturing are crucial for the sector’s sustained growth. Strengthening the PLI scheme, expanding ALMM to cover export markets, and removing regulatory bottlenecks will help unlock the full potential of India’s solar industry.

Jakson Solar strongly advocates for a stable and transparent regulatory environment to foster innovation, attract investments, and position India as a global leader in solar manufacturing.