Solar module exports in the first quarter of 2025
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FAQS 4
Which country exports the most solar cells in Q1 2025?
Solar exports in the quarter were dominated by photovoltaic modules, which accounted for 98.7% of the total shipments, while solar cells made up the remaining 1.3%. The U.S. was the primary destination for Indian solar cell and module exports, accounting for 99.5% of the total in Q1 2025.
How did Indian solar module and cell exports perform in Q1?
Indian solar module and cell exports increased 26.1% quarter-over-quarter (QoQ) to $267.6 million (~₹23.1 billion) in the first quarter (Q1) of 2025 from $212.2 million (~₹17.92 billion), according to recent data published by the Department of Commerce.
How much solar energy did India import in Q1 2025?
India imported $1.3 billion (~₹112.8 billion) worth of solar cells and modules in Q1 2025, representing a 35.1% year-over-year (YoY) decrease from $2 billion (~₹166.9 billion). Solar modules accounted for 62.4% of the quarter’s solar imports, while solar cells accounted for the remaining 37.6%.
How did China's PV development surge affect module prices in Q1 2025?
Module spot prices rose 2% in Q1 2025 and remained around $0.09/Wdc. The impact of China’s PV development surge on module prices was muted by the persistence of oversupply conditions and poor economics for module manufacturers. Global polysilicon spot prices rose 12% in Q1 2025, from $5.54/kg to $6.24/kg.
