The solar industry, one of the key drivers of renewable energy, is witnessing significant turbulence in global pricing. Recent changes in China’s export tax rebate policy have resulted in a 4% price increase in solar cells and an anticipated 10% increase in solar wafers.
These fluctuations have raised concerns for project developers and manufacturers, impacting overall costs and market competitiveness.
India, one of the fastest-growing solar markets, faces these changes. States like Rajasthan and Gujarat, which contribute significantly to India’s solar capacity, are now faced with challenges such as delayed installations and rising costs.
We spoke with Mr. Aditya Singh Poonia, Founder of Etrica Power which has a strong base in Rajasthan and Gujarat to shed light on these challenges and potential solutions.
In our conversation, Mr. Poonia shared his views on how price hikes affect India’s solar markets, particularly in Rajasthan and Gujarat, and how Etrica Power is adapting to these changes in the industry. Here’s what he had to say:
Q: How do you perceive the impact of these price increases on the solar industry, particularly in India?
Aditya Poonia: The recent price hikes present both challenges and opportunities. While project costs may rise, this is also a moment for the industry to innovate and optimize supply chains. At Etrica Power, we focus on efficiency and sustainability to navigate these changes effectively.
Q: How do these fluctuations impact solar markets in states like Rajasthan and Gujarat?
Aditya Poonia: Rajasthan and Gujarat are the largest contributors to India’s solar capacity. However, higher input costs might slow down new installations and push developers to renegotiate project timelines. Despite this, both states are well-positioned to adapt, thanks to strong government policies and ongoing investments in renewable energy. Etrica Power is prioritizing strategic partnerships in these regions to ensure projects remain on track.
Q: How is Etrica Power managing these price hikes?
Aditya Poonia: We are strengthening our supplier relationships and exploring opportunities to source components locally. We aim to protect our projects from major cost fluctuations while maintaining quality standards by diversifying our supply chains and adopting cost-efficient technologies.
Q: How do Etrica Power’s core values align with the current challenges faced by the solar industry?
Aditya Poonia: Our core values integrity, superior supply chain management, 24-hour service commitment, and high-quality products, are the foundation of how we operate. Amid these price fluctuations, these principles guide us to ensure seamless operations and maintain trust with our partners and customers. We have 1800+ happy customers with us till now.
Q: What advice would you give the solar industry to navigate these challenges?
Aditya Poonia: The industry needs to focus on long-term strategies, such as investing in R&D for efficiency improvements, building strong and stable supply chains, and endorsing supportive policies that encourage local manufacturing. Collaboration between stakeholders is key to sustaining growth amid global price shifts.
