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Module enterprises ranking of PV market in India and Vietnam in 2020: SC

Vietnam’s photovoltaic industry continued to show explosive growth in 2020, and the newly installed capacity exceeded 10 GW. The sales of PV modules imported from China in Vietnam market also doubled on the basis of 2019.

The specific sales ranking of enterprises in Vietnam in 2020

In sharp contrast, India, which was once predicted by all major institutions to become a hot market in 2020, was seriously affected by the Covid-19 and its newly installed PV capacity has plummeted. It was estimated that the installed capacity in 2020 would only reach 3 GW, which was 50% less than that of 2019. The corresponding import of PV equipment in India was also significantly reduced compared with the same period last year.

At present, the annual photovoltaic manufacturing capacity of India is about 8.4 GW, and about 80% of relevant equipment is imported from China every year. The value of solar cells and modules imported from China declined sharply as the Indian government began to levy safeguard tax on Chinese photovoltaic modules and cells in 2018. According to the statistics of Solarbe Consulting’s overseas export data, India has imported photovoltaic cells and modules worth US $1.405 billion from China in 2019. However, the number dropped to US $760 million in 2020.

The specific sales ranking of enterprises in India in 2020


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