DCR (Domestic Content Requirement) solar modules and cells are those that meet the Domestic Content Requirement (DCR) policy as mandated by the Ministry of New and Renewable Energy (MNRE) of India to promote made-in-India using locally sourced components.
In recent times DCR module prices have surged following several events like the Ministry of Finance’s decision to impose provisional anti-dumping duties on solar glass, cells, and modules imports from China and Vietnam, high demand for domestic panels due to various government initiatives, rise in raw material prices, domestic capacity not able to meet the demand and many more.
DCR cells and modules are in high demand as they qualify for government incentives, subsidies, and priority in government solar projects, ensuring enhanced quality control, creating jobs, and minimizing supply chain disruptions. These are essential for boosting local manufacturing, ensuring energy security, and reducing reliance on imports.
Considering the ongoing renewable energy initiatives, increasing demand, reducing dependence on imports, government initiatives boosting and promoting domestic production, and solar energy being the cheapest source of energy, Listed below are some of the stocks in the race to meet domestic and global demand with the ongoing boom in the solar sector.
Waaree Energies
Waaree Energies Limited is the largest solar PV modules manufacturer in India, It has a wide product portfolio of solar energy products that consists of Multicrystalline modules Monocrystalline modules and TopCon modules include flexible bifacial modules as well as building-integrated photovoltaic (BIPV) modules.
As of Q3FY24, Waaree Energies Limited is the largest manufacturer of solar PV modules with the largest aggregate installed capacity of 15 GW, and 5.4 GW of solar cell Manufacturing.
By FY27, Waaree Energies Limited intends to achieve 21 GW of Module Manufacturing, 11.4 GW of Solar Cell manufacturing and 6GW of Ingot.
Premier Energies
Premier Energies Limited is an integrated player in the solar ecosystem that manufactures and supplies integrated solar cells and solar panels. Its product portfolio includes Cell, Solar Modules, Monofacial and Bifacial, modules, EPC Solutions, and O&M Solutions.
Premier Energies Limited is India’s 2nd largest Solar Cell Manufacturer with a market share of 25 percent and an Installed capacity of 2GW. It is also India’s 4th largest Solar Module manufacturer with a market share of 6 percent and an annual installed capacity of 4.13 GW.
Tata Power Company
Tata Power Company Limited is India’s largest vertically integrated power company, primarily involved in the business of generation, transmission, and distribution of electricity, manufacturing solar roofs, developing EV charging stations, and many More.
Tata Power Solar Limited the company’s subsidiary has an annual installed capacity of 4.97GW for manufacturing solar cells and modules each.
Adani Enterprises
Mundra Solar PV Limited subsidiary of Adani Enterprises Limited is India’s largest solar cell manufacturer with a market share of 50 percent and an annual installed capacity of 4 GW. It is also India’s 5th largest Solar Module manufacturer with a market share of 5 percent and an annual installed capacity of 4 GW.
Written by: Bharath K.S
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