🚀 India’s Solar Boom: A 5X Expansion! ☀️🔋 Solar cell manufacturing is set to grow 5X to 50-55 GW by FY27, backed by ₹28,000-30,000 Cr capex & policy support like PLI & ALMM. With 80% of solar cells still imported, this expansion will boost self-reliance & backward integration. Solar companies in focus: Waaree Energies, Premier Energies & Insolation Energy. 📌 CRISIL report on solar cell capacity sheds light on this massive transformation! Massive Expansion Ahead India’s solar cell capacity is projected to reach 50-55 GW by FY27, up from 10 GW in FY24. This ₹28,000-30,000 Cr investment will be funded with a 70:30 debt-equity mix. 📈 Policy Push Fuels Growth Govt initiatives like PLI (Production-Linked Incentive) & ALMM (Approved List of Models & Manufacturers) are driving expansion. The 'Make in India' push is further boosting domestic solar cell production. 🇮🇳⚡️ Reducing Import Dependence India still imports ~80% of its solar cells, mainly from China. While module imports have dropped to 25%, high import dependence for cells remains a challenge. 🏭🔻 Backward Integration Key More module makers are setting up in-house cell production, reducing reliance on imports. Currently, only 15% of domestic module capacity is supported by local cells—this will cross 50% by FY27. 🔄🔋 Financial Viability & Challenges Despite high capex, credit quality remains stable due to strong balance sheets & robust margins. However, domestic solar cells are 80-90% costlier than imports, due to lower scale & higher conversion costs. 📊💰 Future Outlook - 60-65 GW of new solar capacity expected by FY27. - ALMM & PLI to keep demand strong. - US trade policy shifts & China’s wafer supply disruptions will impact prices. 🌍⚡️