Solar Panel Manufacturing
India’s solar panel manufacturing sector has experienced rapid growth, expanding by approximately 50% over the last decade. Unlike finite fossil fuels, solar energy is renewable and enduring. Not only is it environmentally friendly, but it’s also economically viable. Consequently, the government has introduced various policies and incentives, such as the PLI scheme, to stimulate solar panel manufacturing in the country. Globally, the solar energy market reached a valuation of USD 59 billion in 2020, projected to soar to USD 230 billion by 2028. With environmental regulations prompting many industries to adopt solar rooftops, there’s a burgeoning market for solar panel manufacturers. Setting up a solar panel manufacturing plant entails acquiring numerous components, including solar panels, DC distribution boxes, batteries, panel stands, wires, and tracking structures. These panels harness sunlight, converting it into electricity through embedded solar cells. Explore our blog for a detailed guide on launching your solar panel manufacturing venture.
Here are the essential raw materials needed to initiate a solar panel manufacturing enterprise:
– Photovoltaic cells
– Aluminium framework
– Glass panels
– Wiring
– Acrylic sheets
Here are the machines necessary to commence a solar panel manufacturing venture:
– Solar stringer equipment
– Solar cell layup machinery
– Sun simulation device
– Solar laminating machine
– Electroluminescence testing device
– Silicone dispensing machine
– Automated station for manual busbar assembly
– Plastic cutting machinery
Below are the essential machines required to initiate a solar panel manufacturing business:
– Equipment for solar stringing
– Machinery for solar cell layup
– Device for sun simulation
– Laminating machine for solar panels
– Testing equipment for electroluminescence
– Machine for dispensing silicone
– Automated station for manual busbar assembly
– Machinery for cutting plastic
Steps To Start Solar Panel Manufacturing Business :
1) Comprehensive Project Report:
A detailed project report offers clarity by estimating the costs associated with starting a solar panel manufacturing plant, projecting profits, describing the technology to be employed, suggesting suitable marketing strategies, outlining necessary components for operational success, and more.
2) Financial Planning:
Entrepreneurs can leverage government subsidies and bank loans to finance the establishment of a solar panel manufacturing business. A thorough DPR is crucial for securing a bank loan and qualifying for subsidies.
3) Regulatory Compliance:
Registering and obtaining necessary licenses and permits are essential steps. Compliance with standards set by organizations like the Bureau of Indian Standards and the Ministry of New and Renewable Energy is mandatory. PV modules must undergo testing at NABL-accredited labs and meet all stipulated parameters and conditions.
4) Infrastructure Development:
Entrepreneurs can lease, purchase, or construct infrastructure for their solar panel manufacturing business. Optimal infrastructure should be located conveniently for sales and marketing. Once infrastructure is in place, machinery procurement and installation follow suit.
5) Machinery and Raw Material Acquisition:
Starting a solar panel manufacturing business entails acquiring a variety of machinery, with the type and scale of production determining specific requirements. Industries may opt for manual, semi-automated, or fully automated production processes. Consulting machinery experts is crucial before making procurement decisions.
6) Skilled Workforce Recruitment:
The solar module manufacturing industry relies on a trained and skilled workforce to enhance production efficiency. New enterprises should conduct regular training sessions for laborers to improve their skills and minimize manufacturing errors in the solar panel manufacturing plant.
7) Marketing and Brand Development:
Marketing plays a pivotal role in the success of a solar panel manufacturing business. With the global solar panel market expanding rapidly, manufacturers must devise effective marketing strategies to capture significant market share. Opportunities abound with MNCs and manufacturing units increasingly installing solar panels on their rooftops.
Are you considering launching a solar panel manufacturing business? As an entrepreneur venturing into this field, you can register with the Institute For Industrial Development to access a comprehensive range of services, from conceptualization to establishing your industry. As India’s leading service provider in the manufacturing sector, SolutionBuggy assists you in navigating market challenges and capitalizing on opportunities. Our solar consultants, equipped with practical expertise in solar module manufacturing, deliver cost-efficient solutions while upholding superior product standards. SolutionBuggy equips industries with a competitive edge by offering vital services throughout the entire process of setting up a solar panel manufacturing facility.
IID Membership
Membership programs for business startups offer valuable resources and support to entrepreneurs at various stages of their journey. These programs often provide access to mentorship, networking opportunities, educational workshops, and shared workspaces or office facilities. Additionally, members may benefit from discounts on services, access to funding opportunities, and exposure to potential clients or investors through community events. Joining a startup membership program can accelerate