Energy & Renewables
Solar PV module manufacturing has scaled under PLI, but wafer and polysilicon capacity is still being built - 100% of wafers were imported in 2024. Wind sector imports high-grade bearings and rare-earth magnets. Electrolyser and green-hydrogen value chains are at infant stage with PLI support.
66.99Dependency index
$13.8 bnStrategic imports
3Critical products
▲ 0.812-month trend
Critical products
Where the dependency sits
| Product | CMDI | Source | Import | Verdict |
|---|---|---|---|---|
| Solar Wafers (Mono PERC, 156-210mm) | 85.85 | China | $3.2 bn | Build-now |
| Solar-Grade Polysilicon | 83.85 | China | $2.5 bn | Build-now |
| Solar Cells (Mono PERC, TOPCon) | 79.75 | China | $2.8 bn | Build-now |
| Solar Junction Boxes | 71.62 | China | $0.17 bn | Build-now |
| Wind Turbine Blades (>60m) | 69.15 | Denmark | $0.54 bn | Build-now |
| Solar Silver Paste (Front Contact) | 67 | China | $0.50 bn | Build-now |
| Wind Turbine Gearboxes (Multi-MW) | 66.75 | Germany | $0.55 bn | Build-now |
| Solar Junction Boxes | 66.74 | China | $0.20 bn | Build-now |
| Green Hydrogen Electrolyser Stacks | 66 | China | $0.20 bn | Build-now |
| Wind Turbine Converters | 65.73 | Germany | $0.25 bn | Build-now |
| Solar Tracker Systems | 65.12 | USA | $0.19 bn | Build-now |
| Wind Turbine Main Bearings (Slewing) | 65 | Germany | $0.30 bn | Build-now |
| Wind Yaw Bearings | 64.58 | Germany | $0.14 bn | Build-now |
| Solar Tabbing Wire | 64.49 | China | $0.07 bn | Build-now |
| Solar Tabbing Wire | 64.14 | China | $0.11 bn | Build-now |
| Battery Storage (BESS Pack) | 63.38 | China | $0.43 bn | Build-now |
| Green Hydrogen Compressors | 63.13 | USA | $0.10 bn | Build-now |
| Solar Backsheets (PVF) | 62.53 | Japan | $0.14 bn | Build-now |
| Central Power Plant Inverters (Utility-Scale Solar) | 61.5 | China | $0.40 bn | Build-now |
| Solar Tempered Glass (PV Cover) | 60.5 | China | $0.45 bn | Build-now |
| Solar Inverters (Micro) | 58.93 | USA | $0.16 bn | Position-early |
| Solar Encapsulant (EVA/POE) | 58 | China | $0.35 bn | Build-now |
Opportunity radar
Localisation opportunities
63Build-now
Solar Tempered Glass (PV Cover)
63Build-now
Solar Encapsulant (EVA/POE)
63Build-now
Central Power Plant Inverters (Utility-Scale Solar)
61Position-early
Wind Turbine Gearboxes (Multi-MW)
61Position-early
Solar Cells (Mono PERC, TOPCon)
61Position-early
Green Hydrogen Electrolyser Stacks
61Position-early
Solar Tabbing Wire
61Position-early
Solar Junction Boxes
61Position-early
Solar Backsheets (PVF)
Key Indian manufacturers
Suzlon EnergyAdani New IndustriesWaaree EnergiesNTPC Green EnergyHeramba EnerconNational Engineering IndustriesTata Power Solar SystemsABC BearingsOhmium InternationalBorosil RenewablesRenusol IndiaGold Plus Glass IndustryReliance Industries (New Energy)Adani SolarWinergy India
PLI performance
- High-Efficiency Solar PV Modules20%
Confidence: Reasoned estimate. Part of Techadyant Labs' Critical Manufacturing Dependencies (Edition I).