Q3 solar exports jump 223%, imports up by 38%

After a downbeat second quarter this year, India’s solar industry perked up in Q3 with solar exports jumping 223% and imports increasing 38% over the Q2 CY 2018 numbers.

In Q3 2018, 84.5% of solar cell and module imports to India came from China.

Image: Jiri Rezac

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According to the latest data from the Department of Commerce, in the third quarter of 2018 India imported solar modules and cells worth US$602 million – nearly 38% more than the $436.63 million in imports in Q2.

During the same period, the export of solar cells and modules touched $56.23 million, a whopping 223% jump from Q2, which recorded $17.4 million. However, import activity was down 17% compared to Q3 of CY 2017.

In Q3 2018, the United States accounted for 58% of total solar modules and cells exported from India. Australia and EU countries – in particular Denmark, Poland, the Netherlands and Belgium – were other major importers of Indian solar products.

Supplying 84.50% of India’s total solar requirement, China continues to be the single largest supplier of solar modules and cells to the country. This Q3 data is slightly higher than the 75.90% share in the previous quarter.

A distant second was Singapore, which accounted for 6.9% of India’s imported solar cells and modules, totalling $41.33 million. Close on its heels is Taiwan, the third largest supplier with 3.8% of the country’s solar import share. Other supplier countries include Malaysia (1.3%), Canada (0.7%), Thailand (0.7%), Vietnam (0.6%) and Hong Kong (0.4%).