Investor Presentaiton
Solar Manufacturing - Demand for domestic solar module expected to grow at a double digit growth rate
Low Penetration in Global Energy Demand
Global solar PV demand to grow at 13% CAGR
Solar Manufacturing concentrated in China
(in GW)
8.8%
■ROW EU India ■Japan
USA
China
Total Cell Capacity
168 GW
Total Module Capacity
219 GW
7.4%
6.2%
5.0%
116
119
121
122
106
99
38
33
42
79
45
India, 2%
45
3.6% 3.3%
14
Canada,.
4%
Others,
4%
Vietnam,
3%
USA, 2%
Others,
6%
52
13
India,
2.8% 2.6%
13
5
51
34
12
7
2.2%
7
17
Korea,
4%
12
6
16
7%
Germany
Japan
Australia
UK
China
India
World Avg
USA
France
Brazil
Canada
13
Canada,
15
7
12
15
0.9%
12
15
14
0.6%
7
11
8
13
12
Taiwan,
4%
9
10
7%
S Korea,/
6%
21
28
31
35
40
11
China,
76%
China,
75%
2015
2016 2017
2018 2019e 2020e 2021e 2022e
Global Solar Module oversupply bottoming out
Global Growth Drivers / Opportunities
USA
China
Europe
Africa &
Latin
America
Cells/Modules imported from India exempt
from tariffs
Projected market of -350 MW/year
Subsidy for new solar projects supportive to
global demand
Better than expected China solar target (i.e.,
>300 GW by 2020) positive for solar module
Resurgence of demand from Govt auctions &
residential will bring 43% annual growth from
2017 levels of 6.3 GW
• Spain & Italy will contribute 67 GW by 2030
MENA targets 84 GW by 2023
Latin America targets 40 GW by 2021
India: 31% power generation from Solar by 2030
Installed Capacity
Projected Capacity
CAGR 46%
CAGR - 66%
88
73
58
28
22
60
40
120%
110%
100%
90%
80%
70%
60%
50%
40%
Rooftop
Utility
Global capacity utilization
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
2015 2016 2017 2018 2019 2020 2021 2022e Target
Polysilicon
To achieve global sustainable development target, Solar PV requires annual growth of 17% till 2030
adani
Source: CS Primer, 2019, GTM / BNEF, IEO - International Energy Outlook
Wafer
-Cell
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