Germany is expanding its trade cooperation with India – especially in the area of photovoltaics (PV). With exponential growth, the Indian PV market stands out as one of the most promising globally.
That is why the Indian PV market will be one of the hot topics at Intersolar Europe 2026. In cooperation with the German Solar Association (BSW-Solar), the exhibition will provide a wide range of presentations and plenty of information. In the run-up to the event, we asked David Wedepohl, Managing Director International Affairs at BSW-Solar, about what sets the Indian market apart, what significant developments are happening and what insights Intersolar Europe 2026 will offer regarding India’s PV market.
The German Solar Association has been working in India since 2007, and since 2017, we have had an association partnership with the National Solar Energy Federation of India (NSEFI). India is not just the world’s largest democracy, but also one of the key trade partners for Germany and the EU. This is partly because of the Indian economy’s fast-growing energy demand, which makes India an important, albeit complex, up-and-coming market for the German solar industry.
In 2025, India was the third-largest solar market worldwide, measured in annual installations. Today, the installed cumulative solar capacity is 138 GW (AC). In 2025, capacity expanded by a record 37.5 gigawatts (GW), an increase of 50 percent compared with the previous year. The 2026 budget provides for a deployment of 45 to 50 GW. Some analysts predict that in 2026, India will overtake the USA in yearly installed PV capacity and become the second biggest solar market in the world.
In recent years, the Indian market has significantly changed. Besides the traditional utilities sector, roof-mounted PV is now common on both commercial roofs and private homes, similarly to what we have seen in other established PV markets. The number of ground-mounted systems co-located with storage devices is also on the rise. Beyond its prowess in PV development, India has also been solidifying its position as a manufacturer of PV components. The country is already a strong player in the module industry. The country’s industrial policy under Modi’s government is now geared towards integrating the upstream parts of the supply chain by establishing a domestic manufacturing ecosystem, which will be benefiting from the expertise of German mechanical engineers, engineering service providers and research institutions.
The Indian market is characterized by a highly competitive mix of private conglomerates, state-owned businesses and an expanding manufacturing base. Among the top project developers are Adani Green Energy as the largest private player, NTPC Renewable Energy (a subsidiary of the biggest public utility company in India) as well as ReNew and Avaada Energy as leading independent electricity producers. Waaree Energies, Vikram Solar, Reliance New Energy and Tata Power Solar are among the largest solar module and cell producers. Yet the market is rapidly evolving, with new companies constantly entering the scene.
The Indian solar market is supported by a combination of direct subsidies, tax incentives and innovative power purchase agreements.
State subsidies and incentive programs:
Financing models:
India is both a major sales market and an attractive partner for expanding production capacity in the solar and storage industries. This also makes it a potential source for finished components and intermediate products. Intensifying the partnership is economically beneficial for both countries. In the long term, it may help to reduce dependance on dominant market players and strengthen the resilience of both the German and Indian economies.
Its young population makes India an interesting partner for skilled worker programs from the point of view of the EU, even though Germany’s demand for qualified workers is currently somewhat subdued.
The German Solar Association welcomes the historic Free Trade Agreement with India. It is one of the EU’s most comprehensive trade deals with vast economic potential, especially regarding the set-up of industrial production in India with German machines and know-how, as well as the more long-term potential for the diversification of global PV supply chains.
At Intersolar Europe 2026, BSW is planning several side events on the topic of the Indian PV market with the involvement of Indian stakeholders. Could you give us an idea of what to expect?
The exhibition will place a special focus on India. Together with Intersolar Europe and other partners, the German Solar Association is organizing numerous events on the topic of India throughout the exhibition week. For example, we have partnered with the German Mechanical Engineering Industry Association (VDMA) to discuss how to set up shared supply chains. Our Indian association partner, NSEFI, will help us facilitate meetings between high-ranking Indian industry representatives and German CEOs. There are also plans for a WISE (Women in Solar Energy) initiative meeting for Indian members, as well as for the attendance of several delegations, including the International Solar Alliance. The Indo-German Energy Forum will be hosting a lunch celebrating the new Free Trade Agreement between India and the EU. And of course India will be taking part in the meeting of international associations. Our host, Solar Promotion, is also said to be planning more India-related content.