Manufacturing News

US company aims for 25% market share in Indian solar manufacturing

US company First Solar is aiming to take 25 per cent market share in the Indian solar equipment sector over the next three years.

As the Economic Times reports, the company, which is the largest American solar photovoltaic manufacturer is competing with equipment makers from China and EU

The Indian solar energy market is currently on the rise and there have been claims from the domestic producers in that country that suppliers from four countries, including China and the US have been dumping low cost products on the Indian market.

Several Indian manufacturers filed an anti-dumping case concerning the issue last year.

This problem isn’t unique to India. There have been similar claims made by the Australian solar energy industry of late.

However, First Solar CEO James Hughes claimed that the presence of foreign producers will help the Indian solar energy market.

"We don't expect any adverse result to come out of the anti-dumping case. We are here to compete in the solar imports industry," said Hughes.

"Indian solar market has all the characteristics to attract investment. The economy of the country is growing; there is huge energy demand, deficiency in the power supply and a great dependence on imported fuel."

There have been significant advances in solar energy technology of late.

Shares in solar developer Dyesol rocketed after the company announced that its solid-state dye solar cell had reached an efficiency of 11.3 per cent at full sun, allowing the company to fully compete with fossil fuel sources.

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